Senior Specialist Executive Compensation at Abbott

North Chicago, Illinois, United States

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

HealthcareIndustries

Requirements

Bachelor’s degree required with preference for financial degree
Strong quantitative skills
Three to five years’ experience in compensation and/or benefits administration, preferred
Experience submitting, analyzing, and summarizing data as well as creating and developing reports
Detail oriented, with strong analytical, mathematical, and process skills
Highly proficient in Excel and PowerPoint with working knowledge of other MS Office programs
Able to solve problems taking into account the customer, strategic, and operational perspectives
Able to multi-task and work in an environment with multiple deadlines
Able to work effectively, both independently and as part of a team, with initiative and accuracy
Strong interpersonal skills to establish and maintain relationships with internal and external partners

Responsibilities

Support quarterly and annual deferred compensation administration
Prepare program communications for management review and approval
Generate distribution lists and distribute open enrollment communications
Answer participant questions, research and follow-up as needed with key stakeholders
Review plan documents annually and recommend adjustments to management
Support day-to-day activities including working with vendors, payroll, finance
Ensure feeds occur as scheduled and resolve any discrepancies
Establish quality control audits and procedures
Complete data audits and testing
Ensure funding requirements are met
Run audits to ensure tax, demographic, retirement, payroll details are correct
Create workflows to resolve any issues. Escalate to management as needed
Create and deliver reports
Maintain deferred compensation data in accurate and usable form
Maintain key employee lists
Ensure plan administration compliance
Collaborate with Abbott Treasury, Finance, Payroll, and other internal functions as needed to support deferred compensation administration
Work on other executive compensation projects as needed

Skills

Executive Compensation

Deferred Compensation

Compensation Administration

Program Management

Compensation Analysis

Communication

Abbott

Healthcare solutions in diagnostics and devices

About Abbott

Abbott Laboratories focuses on improving health through various medical technologies and health solutions. The company operates in areas such as cardiovascular health, diabetes management, diagnostic testing, nutrition, and neuromodulation for chronic pain and movement disorders. Abbott's products include advanced medical devices and diagnostic tests that help healthcare professionals and patients manage health conditions effectively. For example, their cardiovascular technologies assist in heart health management, while diabetes care products enable accurate glucose monitoring without painful fingersticks. Unlike many competitors, Abbott emphasizes accessibility and affordability in its offerings, aiming to make life-changing technologies available to a broader audience. The company's goal is to positively impact global health and well-being, supported by a commitment to sustainability and a 2030 Sustainability Plan.

Lake Bluff, IllinoisHeadquarters

1888Year Founded

IPOCompany Stage

HealthcareIndustries

10,001+Employees

Risks

Departure of key leader Dr. Adamson may affect Abbott's Heart Failure division.

Integration challenges with Medtronic could impact glucose monitor-insulin pump rollout.

Thermo Fisher's microfluidics expansion may increase competition for Abbott.

Differentiation

Abbott integrates continuous glucose monitoring with automated insulin delivery systems.

Abbott's microfluidic devices streamline diagnostic processes efficiently.

Abbott's neuromodulation products target specific nervous system areas for chronic pain relief.

Upsides

Microfluidic technology offers cost-effective solutions in diagnostics.

Strategic partnerships like Abbott-Medtronic enhance product offerings and market reach.

Significant investments indicate strong market confidence in Abbott's healthcare solutions.

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