Employee incentive plans. The newest idea: give employees a share of what they save.
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Pioneering CEOs are backing ideals with their own money: They're linking bonuses to how well they improve community health. The day may be near when CEO pay hinges on meeting community health needs.
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Although trustees usually are not involved in the day-to-day details of executive compensation matters, they do have an important role to play in determining the program's philosophy and in helping to develop specific eligibility and payment criteria.
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It is difficult for health information managers to maintain their career motivation in times of financial cutbacks, reforms, and changing technologies. Diminished motivation leads to poor job performance, which harms the department's productivity and the manager s job security. Revitalizing performance through improved motivation does not depend on fate. The article explains why motivation diminishes and suggests a plan for recapturing lost motivation.
Nonprofit organizations should consider using incentive-based management programs so long as such programs are studied thoughtfully, implemented carefully, and closely tied to other important management practices. The article describes the experiences of one nonprofit organization, Citizens' Scholarship Foundation of America (CSFA), in successfully conducting a staff incentive program during the past several years. The author also reports briefly on the results of a recent survey among CSFA staff involved in the incentive plan, outlining the benefits of such a program in helping the organization to reach its objectives. Finally, the author addresses potential pitfalls to avoid in implementing an effective staff incentive program.
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.
This paper is the second from a series of three, addressing human resource practices using best practice examples. The analysis covered is based on the experiences of organisations that have won the Malcolm Baldrige National Quality Award (MBNQA) in the USA. The subcriteria covered in this benchmarking comparative analysis covers the following areas: human resource planning and management; employee involvement; employee education and training; employee performance and recognition; employee wellbeing and satisfaction. The paper concludes by reflecting on the likely implications for health-care professionals working in the human resource field.
Although performance-based evaluation and salary systems are common among healthcare organizations, most facilities have not adopted rank-and-file variable compensation plans. One option, gain sharing, may draw increasing attention in health care because it is designed to reward employees based on financial performance, productivity, and quality measures--addressing some prominent concerns in the industry.
Performance-based compensation is increasingly replacing the annual bonus as hospitals seek ways to motivate their management. Two Ernst & Young authorities outline how to establish the incentive approach and put the performance measures in place. In the process, the performance goals should communicate what's important to the organization.