Integrated Healthcare Strategies understands the importance compensation plays in attracting, retaining, and engaging the best talent that will perform at the highest level to help the organization succeed.
(PRWEB) October 31, 2011
Integrated Healthcare Strategies, a national compensation and human resource consulting firm dedicated exclusively to healthcare, today announces the close of its 2011 healthcare compensation survey season with data highlights from select surveys. Responses from survey participation shared with the public came out of the firm’s recognized National Healthcare Staff, Nursing, and Leadership Compensation Surveys.
Integrated Healthcare Strategies, with offices in Minneapolis, Kansas City, and Dallas, has conducted healthcare compensation surveys for over 20 years, making the firm a trusted source for reliable and comprehensive information used to develop compensation plans that effectively engage employees to align with the organization’s goals.
Data on staff compensation showed that, of the average single year wage growth rates, four of the top ten positions are rehabilitation jobs. These jobs had an average base wage growth rate of 2% or higher, year over year. In 2011, 75% of all staff survey respondents indicated that their actual salary increase budget remained unchanged or increased from the previous year.
Data on nursing compensation showed that 80% of respondents provided nursing positions with market increases over the last 12 months, while 87% of respondents indicated nursing positions were provided with merit increases. Nationally, organizations provided a 1.8% average total increase to staff level nursing positions within the last twelve months.
Also nationally, new hire rates for staff nurses are approximately $3.00 per hour higher for nurses with at least five years of experience, compared to entry level staff nurses. The same holds true for nurses with at least ten years of experience, compared to nurses with five years of experience.
Data on leadership compensation showed that median same incumbent salary levels increased on average 3% at healthcare systems, and by 2.8% at independent and subsidiary hospitals. Chief Executive Officers who are eligible for both short- and long-term incentives have a total incentive opportunity as high as 80-100% of salary at target or expected value. C-Suite executives, on average, received a short-term incentive award between 25% to 35% of salary at healthcare systems, and between 18% to 27% of salary at independent and subsidiary hospitals.
“Integrated Healthcare Strategies understands the importance compensation plays in attracting, retaining, and engaging the best talent that will perform at the highest level to help the organization succeed – we’ve been doing it for healthcare organizations for over three decades,” said Kevin Talbot, Executive Vice President and Practice Leader for the Executive Compensation and Governance practice at Integrated Healthcare Strategies.
The full survey reports are available to both participant and non-participant organizations. Healthcare organizations interested in purchasing the 2011 surveys, or participating in the 2012 National Healthcare Compensation Surveys can email the Compensation Survey Department at Integrated Healthcare Strategies at Comp.Surveys(at)IHStrategies(dot)com or can call 1-800-327-9335. Other non-healthcare organizations may purchase the surveys by direct request.
Integrated Healthcare Strategies conducts surveys on all the ‘People of Healthcare’ – executives, employees, physicians, advanced practice clinicians, medical directors and nurses. To see details on all the firm’s compensation and engagement surveys, please visit http://www.ihstrategies.com.
About Integrated Healthcare Strategies
Integrated Healthcare Strategies provides healthcare organizations with direct access to a comprehensive array of healthcare-specific services, delivered by professionals from the industry who understand the rigors of running a healthcare organization – from the lunchroom to the Board Room. Its client list is a “who’s who” of healthcare organizations including over 1,200 major healthcare providers, 1,800 hospitals and 700 independent and affiliated medical groups. Integrated Healthcare Strategies specializes in the areas of physician strategy and compensation, employee compensation, executive compensation, human resource solutions, labor relations, leadership transition planning, executive search, compensation and employee engagement surveys, performance management, board governance solutions, and M&A transition issues. Visit http://www.ihstrategies.com.