What are the responsibilities and job description for the Associate Director, Incentive Compensation position at Life Science People?
Associate Director, Incentive Compensation
The Associate Director, Incentive Compensation will serve as a strategic partner to business leadership, providing data-driven guidance and recommendations to design equitable and precise incentive plans. These plans will align with corporate objectives in a legal and compliant manner for the US Commercial Organization, focusing on Orserdu, Elzonris, and future indications/drugs.
Responsibilities
- Spearhead the design, documentation, administration, and reporting of sales Incentive Compensation (IC) plans
- Craft fair and accurate incentive plans, goals, and contests, ensuring effective implementation
- Demonstrate profound understanding of IC principles, including contests, to recognize and reward employee achievements
- Analyze growth drivers, including account-level goals, collaborating with the forecasting team to ensure accurate IC goals
- Investigate data sources to enhance IC, partnering with Data Operations and Strategy teams
- Ensure 100% accuracy in IC plan/design, goals, payouts, and contest design as the quality flag bearer
- Collaborate with AVP, Commercial Excellence, Sales Leadership, and Vendor Partners to develop motivating incentive plans aligned with corporate objectives
- Liaise with HR, Finance, Legal, and Compliance to maintain IC plan and SOP compliance with company policies
- Oversee IC plan administration and timely payouts
- Manage IC plan rollout to field teams in accordance with IC SOP
- Conduct regular health check analyses to monitor IC plan and contest effectiveness
- Deliver presentations on IC plans to sales leadership and during field sales meetings
- Address field queries related to IC data and payouts
- Develop training materials for new field personnel
Skills/Knowledge
- Bachelor's degree in Business, Data Science, Analytics, or related field; advanced degree preferred
- 8 years of relevant experience in pharma/biotech, with Hematology/Oncology experience preferred
- 5 years of experience designing and managing incentive compensation and awards programs
- Deep knowledge of pharmaceutical/biotechnology industry data leading to IC
- Proficiency in complex data manipulation using SAS, Alteryx, R, Python, or SQL; experience with big data technology and visualization tools
- Expertise in analyzing large longitudinal data sources, including Claims, EMR, GPO dispense, and Specialty Pharmacy data
- Comprehensive understanding of current trends and best practices in incentive compensation and employee recognition programs
- Strong attention to detail and deep knowledge of incentive compensation principles
- Excellent communication and organizational skills with a proven track record in executing incentive compensation plans
- Ability to collaborate effectively with cross-functional teams
- High degree of creativity and innovation in developing new approaches and methodologies
- Strong oral and written communication skills, including the ability to explain complex data topics simply
- Excellent organizational and time management skills
- Confidence in interfacing with Executive Leadership as a subject matter expert
