Helping healthcare organizations create balanced compensation plans that promote the attraction and retention of top-tier executives, while maintaining compliance and reasonableness, is a key focus of our firm.
(PRWEB) October 31, 2011
Integrated Healthcare Strategies, a national compensation and human resource consulting firm dedicated exclusively to healthcare, announced the recent publication of results from its 2011 National Healthcare Executive Benefits Survey. In 2011 the benefit survey was separated from the compensation survey, allowing the firm to capture a greater depth and quality of responses on executive benefits in healthcare organizations than previously available from industry surveys.
Integrated Healthcare Strategies, with offices in Minneapolis, Kansas City, and Dallas, has conducted healthcare compensation and benefit surveys for over 20 years. Its new benefit survey provides expanded results to assist healthcare organizations in better understanding the executive benefit marketplace.
A small sub-set of data provided from the survey showed that:
- Approximately 70% of employers supplement their qualified plans with additional employer-funded, non-qualified retirement benefits for their senior executives. Supplemental plans providing an annual contribution were slightly more prevalent than those targeting a specified benefit at retirement.
- Median medical plan premiums for family coverage increased an average of 8% per year over the last three years.
- A majority of organizations continue 100% of salary for executives during a short-term disability period through one or more disability programs. The median salary replacement during a long-term disability is 60% and it is provided by group and supplemental disability plans at the executive level.
- The trend is moving away from perquisites, except for items that can be treated as business expenses. The most prevalent perquisite remains an automobile or automobile allowance with 86% of CEOs receiving either one or the other.
Integrated Healthcare Strategies has been analyzing and designing benefit programs for over three decades. “Competitive benefits are a cornerstone to retaining talented executives,” said Linette Allison, Vice President of Operations and Quality in the Executive Compensation and Governance practice at Integrated Healthcare Strategies. “Helping healthcare organizations create balanced compensation plans that promote the attraction and retention of top-tier executives, while maintaining compliance and reasonableness, is a key focus of our firm.”
The full survey report provides data on benefit programs ranging from retirement plans to healthcare benefits and covers perquisites, employment agreements, and severance plans. The survey report is available only to participating organizations. Healthcare organizations interested in participating in the 2012 National Healthcare Executive Benefits Survey can email the Compensation Survey Department at Integrated Healthcare Strategies at Comp.Surveys@IHStrategies.com or can call (800) 327-9335.
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 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.