Modern Healthcare | 2020: Annual Executive Compensation Article
SullivanCotter helps to examine how health care organizations are adapting their executive compensation practices in response to COVID-19
As costs surge and revenue declines for health care organizations amidst the COVID-19 pandemic, many are re-evaluating their executive compensation programs as they focus on organization-wide equity, recovery and what lies ahead in such an uncertain environment.
Featured in an August 2020 edition of Modern Healthcare, SullivanCotter’s Bruce Greenblatt and Tom Pavlik share data from SullivanCotter’s recent COVID-19 research and highlight some of the key executive compensation changes being implemented or considered in response. This includes actions on base salaries, adjustments to current year incentives to account for the impact of the pandemic, and adjustments to future compensation programs and talent strategies to incorporate recovery considerations and ongoing uncertainty.
In order to focus on the need for financial sustainability, cost efficiencies and revenue growth, all of which have been accelerated by COVID-19, organizations should adopt a more flexible and fluid approach as they move into 2021 and beyond.