Health & Benefits North America – Product Leader

Overview

The Product Leader will define and drive the execution of the strategic roadmap for WTW’s Health & Benefits (H&B) portfolio of one-to-many products and services across North America that allows WTW’s H&B business to innovate, differentiate itself from its competitors, work smarter, make better decisions, enable growth, and enhance profitability.  The Product Leader is responsible for ensuring that the portfolio of new and existing products aligns with market messages and client needs to maximize business potential. 

As a member of the NA Commercialization Team, you will partner closely with specialty leaders across our Insights and Commercialization (I&C), Sales Function, our Marketing Function and H&B Region Leaders and will be accountable for high quality execution and management of the product portfolio.  You will report to the NA Commercialization Leader. You will partner with our I&C and client service team (CST) leaders to ensure promotion of and engagement with the benefits of the products and services offered by H&B in North America. You will be expected to hold the priorities of the North America geography in balance with the global objectives and priorities for Commercialization.

The Role

• Provide product portfolio leadership for H&B NA products and services. Specifically, partner with NA Commercialization Leader to lead the development and execution of the strategic roadmap for H&B products and services, including applicable ROI and value realization measures.
• Develop and execute a comprehensive approach to product development for H&B NA, including:
  1. A product innovation strategy:
     • Organizing resources for a design sprint and fast-cycle market research or concept development
     • Develop a co-creation approach, including sales incentive strategy in partnership with sales leadership.  This may include:
       • Capturing and cataloguing new ideas
       • Developing preliminary business models and modeling revenue/profit potential
       • Developing an approach to evaluate build, partner, or buy capability alternatives related to solutions.
       • Quickly testing concepts with internal stakeholders, customers, and prospects
       • Translating market requirements to product requirements
       • Build and test prototypes
       • Continually soliciting user feedback
       • Prioritizing and synthesizing recommendations to bring forward to Commercialization and H&B National leadership for decision-making
  2. A process for launching boldly:
     • Developing pricing strategies and packages to target different segments
     • Collaborating with leaders and experts to create messaging to articulate the value proposition
     • Creating a multi-channel marketing plan
     • Creating a sales strategy and gaining buy-in from sales team and other key internal stakeholders
     • Ensuring approvals and senior leader decision-making
  3. A way to manage and iterate:
     • Client onboarding process
     • Product performance reviews with financial KPIs, market input and qualitative measures
     • Overall product portfolio reviews for comparative analyses and relative performance 
• Set priorities and deliverables for development to ensure timely delivery of quality products in an agile environment
• Develop innovation-friendly success measures (# of new, viable product ideas generated per year; ability to launch on schedule, number of new clients gained since launch, overall product revenue and profitability)
• Effectively manage the cost budget for all products and services
• Partner with NA Commercialization Leader to develop and implement a product investment criteria, including: Solution purpose, target group, customer need, solution features and business goals.
• Develop updates to North American Leadership Team (NALT) regarding product development and performance, including discussion of new investments. 

Qualifications

• Bachelor’s Degree in product development, marketing or related field preferred; Masters or MBA preferred
• 10+ years of experience with product visioning, development and project management
  1. Experience leading product management team(s)
  2. Brand, product development, technology experience preferred
  3. Budgeting & planning experience
• Knowledge of the market, H&B NA capabilities and broader rewards consulting preferred 
• Strong interpersonal skills.  Ability to exert cross-functional influence.
• Results-oriented

Skills

• Strong product management & strategic analysis skills
• Passionate about product development, healthcare and employee benefits with an entrepreneurial spirit
• Ability to lead with: High energy, sense of urgency, responsiveness, confidence, thoroughness; unafraid to make decisions
• Results-oriented; Embraces a rapid test-and-learn approach
• Foster psychological safety by welcoming diverse experience and ideas

Compensation and Benefits

Base salary range and benefits information for this position are being included in accordance with requirements of various state/local pay transparency legislation. Please note that salaries may vary for different individuals in the same role based on several factors, including but not limited to location of the role, individual competencies, education/professional certifications, qualifications/experience, performance in the role and potential for revenue generation (Producer roles only).

Compensation

The base salary compensation range being offered for this role is $185,000 – $230,000 USD.

This role is also eligible for an annual short term incentive bonus. 

Company Benefits

WTW provides a competitive benefit package which includes the following (eligibility requirements apply):

• Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Group Accident, Group Critical Illness, Life Insurance, AD&D, Group Legal, Identify Theft Protection, Wellbeing Program and Work/Life Resources (including Employee Assistance Program)
• Leave Benefits: Paid Holidays, Annual Paid Time Off (includes paid state/local paid leave where required), Short-Term Disability, Long-Term Disability, Other Leaves (e.g., Bereavement, FMLA, ADA, Jury Duty, Military Leave, and Parental and Adoption Leave), Paid Time Off (Washington State only)
• Retirement Benefits: Contributory Pension Plan and Savings Plan (401k). All Level 38 and more senior roles may also be eligible for non-qualified Deferred Compensation and Deferred Savings Plans. 

This position will remain posted for a minimum of three business days from the date posted or until a sufficient/appropriate candidate slate has been identified.

At WTW, we trust you to know your work and the people, tools and environment you need to be successful. The majority of our colleagues work in a ”hybrid” style, with a mix of remote, in-person and in-office interactions dependent on the needs of the team, role and clients. Our flexibility is rooted in trust and “hybrid” is not a one-size-fits-all solution.

We understand flexibility is key to supporting an inclusive and diverse workforce and so we encourage requests for all types of flexible working as well as location-based arrangements. Please speak to your recruiter to discuss more

EOE, including disability/vets.