Biomedical subjects
Publications and source records attributed to T P Flannery.
As pay trends go, one executive's bonus can be another's bane. Asked what they like about their compensation programs, health care execs and trustees say they're satisfied with the base salaries paid to their top people, but not with their bonus plans, especially for meeting long-term goals like stronger credit ratings and asset positions.
Nurse managers require critical competencies and skills to thrive in today's turbulent health care environment. A nurse manager's relationship with nursing staff is the primary variable that can reduce nursing turnover and improve unit morale in a variety of measurable ways. Self-confidence is the cornerstone competency required for the nurse manager's success. Nurse managers set the context for the delivery of patient services. To do so effectively, a working partnership with finance and human resources is required. Both functions can provide essential information for real time decision making, including variance analysis, flexible budgets, absenteeism rating, turnover rate, and innovative compensation programs.
In the rush to adapt to the rapidly shifting health care environment, organizations have spent thousands of hours and dollars changing structures, processes, and jobs. Largely overlooked have been compensation strategies, which if used effectively are critical drivers of the change process. This article details the following issues: the evolution of new health care work cultures and the need for compensation strategies that are aligned with these new cultures; dynamic reward and recognition strategies, including team- and competency-based pay, and their application in the health care environment; and the changing role of the nurse manager in developing, implementing, and administering dynamic reward programs.
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New "contingent" compensation programs tailored to the hospital work unit provide employees with incentive payments for outstanding performance that augment--or replace--the annual merit increase.
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Explore the source record for details and available documents.