Senior Manager, Incentive Compensation

Ferring Pharmaceuticals, Inc. Parsippany , NJ 07054

Posted 4 weeks ago

Job Title:

Senior Manager, Incentive Compensation

Job Description:

Ferring Pharmaceuticals is a globally recognized, research-driven, biopharmaceutical company with more than 65 years of history. Headquartered in Switzerland, Ferring is privately owned with approximately 6,500 employees in nearly 60 countries. In the United States, Ferring identifies, develops and markets innovative products in the fields of reproductive health (infertility), urology, gastroenterology, endocrinology, women's health (obstetrics/gynecology), orthopedics and Oncology. Ferring's US operations employ approximately 900 people.

People Come First At Ferring. The Ferring Philosophy places people at the heart of what we do. This guides our relations with patients, physicians, employees, and other stakeholders. We invite you to share our passion for people and the power of science.

Summary:

The Incentive Compensation (IC) role will be responsible for managing IC operations and processes across marketing and sales teams, and lead the development of the IC plan philosophy and design. He/she will be responsible for field based sales awards, rewards, contests and sales compensation practices to meet the demands of the business' sales targets. He/she will ensure appropriate plan designs and methodology, as well as consistent and automated measurements and reports.

Responsibilities:

  • Design, communicate and maintain IC programs that provide market-competitive pay, reinforce sales strategy, and align with business objectives.

  • Identify opportunities to streamline IC operations and improve quality and productivity through automation. Implement enabling technologies and tools to automate and streamline sales reporting.

  • Collaborate with commercial teams and IC vendor to apply industry best practices to develop optimal IC plans.

  • Establish IC program rules, policies, and procedures. Ensure appropriate enforcement of timelines and policies, including adherence to the IC process across the organization.

  • Proactively drive the rewards and recognition program through measuring compensation plan effectiveness, engagement and utilization. Provide each BU with monthly updates to assess goal effectiveness and employee performance.

  • Develop and promote IC best practices; identify and share relevant strategies and business rules that can be applied across multiple business units/product portfolios.

  • Optimize goal setting strategy, lead process to set goals and develop measurement approach.

  • Interface with IT and data analytics to ensure appropriate data procurement, integration and governance.

  • Develop the design, tracking and reporting for sales contests and annual awards. Make recommendations for changes to common business rules.

  • Serve as a liaison to the Ferring Commercial Leadership Committee (acts as the IC committee); manage IC agendas, present plans and provide quarterly updates as necessary.

  • Design and implement a field sales communication plan to ensure understanding of IC plans and other IC strategies and tactics.

  • Support queries on specific field performance issues related to IC; review and manage adjustments, appeals and impact analyses.

  • Manage and interface with external IC vendor to apply best practices to develop optimal IC plans in support of sales objectives; ensure adequate operations are in place to support effective IC operations.

  • Serve as the IC expert to provide training and assistance to internal and external stakeholders (plan participants, sales leadership, Commercial Leadership Team members, etc.)

Requirements:

  • BA/BS degree required

  • 5+ years of direct experience in Incentive Compensation

  • 3+ years of sales analytics and/or consulting experience

  • Knowledge of sales incentive theory and practical application

  • Experience with IC plan design across all stages of lifecycle (e.g., launch vs mature brands)Demonstrated project management skills

  • Ability to work in a matrix environment

  • Proven ability to influence others

  • Strong presentation skills

  • Strong interpersonal skills and the ability to contribute individually and in team settings

  • Proficient verbal and written skills

  • Proficient in Access, Excel, PowerPoint

We are proud to be an Affirmative Action/EEO Employer. EOE Minorities/Females/Protected Veterans/Disabled

We maintain a drug-free workplace and perform pre-employment substance abuse testing.

If you need assistance during the application process due to a disability, please email careers@ferring.com

Location:

Parsippany


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Senior Manager, Incentive Compensation

Ferring Pharmaceuticals, Inc.