Senior Manager, Incentive Compensation

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Date: May 28, 2024

Location: Wickliffe, OH, US, 44092

Company: Lubrizol Corporation

Job Title: Senior Manager, Incentive Compensation

Job Location: Wickliffe, Ohio

Job Type: Full-Time

Type of role: Hybrid

 

About Lubrizol  

The Lubrizol Corporation, a Berkshire Hathaway company, is a specialty chemical company whose science delivers sustainable solutions to advance mobility, improve wellbeing and enhance modern life. Founded in 1928, Lubrizol owns and operates more than 100 manufacturing facilities, sales, and technical offices around the world and has about 8,000 employees. For more information, visit www.Lubrizol.com.

We value diversity in professional backgrounds and life experiences. By enabling a consistent, unbiased, and transparent recruitment process, Lubrizol seeks to create a positive experience for candidates so we can get to know them at their best. We recognize unique work and life situations and offer flexibility, ensuring our employees feel engaged and fulfilled in every aspect of life.

Join Our Thriving Team at Lubrizol as a Senior Manager, Incentive Compensation

Unleash Your Potential. At Lubrizol we're transforming the specialty chemical industry and looking for exceptional talent to join us on this journey. If you are ready to join an international company with talent around the world, and want to make a real impact, we want you on our team.

 

What You'll Do:

We are seeking a highly skilled and experienced Senior Manager of Incentive Compensation with a strong finance background and expertise in designing short-term and long-term incentive plans, including Sales Incentive plans, and administering such plans. As a Senior Manager of Incentive Compensation, you will play a key role in developing and implementing incentive programs that attract, motivate, and retain top talent within our organization.

This position is responsible for the annual strategy and day-to-day operations surrounding the incentive plans. It is responsible for organizing, maintaining, and directing all activities and functions related to the administration, calculation, and communication of incentive compensation as well as the design and modeling of plan changes.

 

To excel in this role, you will need proven experience across the full talent management life cycle, ideally in a global innovation and/or manufacturing based environment.  Strong analytical and problem-solving skills will be essential, as well as excellent change and project management expertise.  Lastly, we’re looking for someone who is a great communicator and has the ability to build relationships that deliver lasting business solutions.

 

At Lubrizol, we value taking a one company approach, with accountability, ownership, continuous improvement and diverse thinking as engines of our potential.  Join our thriving team and be part of a dynamic organization that seeks to leverage talent management as a strategic lever for high performance, as well as a creating a first class employee experience.  With pull from our senior executives, you'll have the opportunity to make a meaningful impact and grow in a supportive environment.

 

What We're Looking For: 

  • Incentive Compensation Program Design: Design and develop comprehensive incentive compensation programs, including short-term and long-term incentive plans, to align with the company's strategic goals and objectives. Collaborate with cross-functional teams to ensure the plans are competitive and compliant with relevant regulations.

  • Sales Incentive Plan Design: Lead the design and implementation of Sales Incentive plans, ensuring they are aligned with sales targets and business objectives. Develop metrics and performance measures that drive sales performance and achieve desired outcomes. Partner with businesses to review, design, and/or model compensation plans as requested to drive sales behaviors desired by the respective business.

  • Incentive Compensation Administration: Oversee the design and administration of incentive compensation programs, ensuring accuracy, fairness, and compliance with internal policies and external regulations. Manage the day-to-day operations of incentive compensation programs, including data analysis, reporting, and communication. Review plan performance and provide periodic updates.

    Market Research and Analysis: Conduct market research and analysis to benchmark incentive compensation practices and ensure competitiveness in the industry. Stay updated on emerging trends and best practices in incentive compensation design and administration.

  • Communication and Education: Develop and deliver communication and training programs to educate employees and managers on incentive compensation plans, policies, and guidelines. Creates and provides guidance of policies, procedures and operational changes related to the incentive plans.

    Performance Management Integration: Collaborate with the HR team to integrate incentive compensation programs with performance management processes, ensuring alignment between rewards and performance outcomes.

  • Liaison Role: Act as a liaison between the Total Rewards department and Finance, ensuring effective communication and collaboration between the two teams regarding compensation-related matters.

    Reporting: Prepare and present reports on incentive compensation programs, performance metrics, and trends the Compensation Advisory Committee. Provide insights and recommendations for program enhancements and improvements.

 

Skills That Make a Difference:

  • Bachelor’s degree in Finance, Business Administration, or a related field. Advanced degree preferred.

  • Minimum of 7 years of experience in compensation management, with a focus on incentive plan design and administration.

  • Strong financial acumen and understanding of financial metrics related to compensation, sales performance, and business objectives.

  • Demonstrated experience in designing and implementing short-term and long-term incentive plans, including Sales Incentive plans.

  • In-depth knowledge of compensation regulations, best practices, and market trends.

  • Excellent analytical and problem-solving skills, with the ability to interpret data and make data-driven decisions.

  • Exceptional communication and presentation skills, with the ability to effectively communicate complex compensation concepts to diverse audiences.

  • Strong project management skills, with the ability to manage multiple priorities and meet deadlines.

  • High level of integrity and ability to handle confidential information with utmost discretion.

 

Perks and Rewards That Inspire:

  • Competitive salary with performance-based bonus plans
  • 401K Match plus Age Weighted Defined Contribution Plan
  • Competitive medical, dental & vision offerings
  • Health Savings Account
  • Paid Holidays, Vacation, Parental Leave
  • Flexible work environment

Learn more at benefits.lubrizol.com!

Ready for your next career step? Apply today and let's shape the future together!

It’s an exciting time to be part of Lubrizol. Lubrizol is not staying put. We are continually learning and evolving. Our passion delivers our success — not only for Lubrizol but for those who count on us every day: our employees, customers, and communities.

As a diverse, global team, we work together to solve some of the world’s most pressing challenges. We impact everyday lives through science only Lubrizol can deliver, and we never stop pushing to do it better.

One of the founding principles of The Lubrizol Corporation more than 90 years ago was treating every employee with dignity and respect. That same commitment is only stronger today. More than that, we are committed to providing an environment where every employee can be the best they can be, no matter their race, color, religion, sex, national origin, sexual orientation, gender identity, disability, or protected veteran status, or any other characteristic. 

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