Struggling to manage critical compensation functions amidst an ongoing health care workforce crisis?
Hospitals and health systems nationwide need help to meet staffing needs and build a sustainable pipeline of future talent as turnover remains high, burnout increases, and the demand for patient care outweighs the supply. In addition, employee compensation programs and pay practices have grown more complex as organizations look to address the ongoing impact of the COVID-19 pandemic and other emerging industry trends.
These challenges continue to generate a substantial burden for various HR functions and can result in a lack of time and resources for addressing key operational needs.
Don’t let critical compensation initiatives fall by the wayside. Through our co-sourcing services, SullivanCotter can partner with your existing team to support annual compensation planning, data strategy and management, market benchmarking analysis, and other activities that help your organization effectively strategize, manage, and enhance results in a complex environment.
We leverage years of health care industry experience in total rewards and strategic workforce planning. SullivanCotter can provide interim support to guide your team as you navigate key vacancies or focus on major strategic initiatives. Our resources will impart best practices to ensure market alignment and enable your team to drive a more consistent, accurate, and cost-effective compensation management process.
Our comprehensive Co-Sourcing/Interim Support services include:
- Market Benchmarking Analysis: Define and utilize a standard market benchmarking methodology to conduct competitive analyses. Leverage analysis and results to evaluate internal policies and practices and provide salary grade and pay recommendations.
- Compensation Planning: Provide insight on annual salary structure and merit increase projections and perform associated cost modeling to determine the potential impact. Recommend relevant compensation adjustments based on organizational goals.
- M&A/Integration Support: Audit and consolidate job data and compensation administration processes to help support organizational readiness for an integration. Provide post-integration support and ongoing resources as needed.
- Data Strategy & Management: Review existing data library and associated processes to provide recommendations for enhancement. Facilitate annual benchmarking through management of survey operations – including data submissions and audits, survey job mapping, and maintaining compliance.
- Technology Support: Manage compensation systems (HRIS, market pricing platform, job description manager) on your organization’s behalf to organize data, ensure consistency, and provide recommendations for optimization.
- Job Description Support: Partner with relevant stakeholders to create/revise job descriptions for roles in need of market analysis/leveling recommendations.
- Ad-Hoc Advisory Services: Serve as an on-demand resource to advise on market movement and trends, participate in select team and/or business leader meetings, and conduct analyses to address evolving legislation or market conditions.
- Interim Support: Provide support via a dedicated SullivanCotter consultant to deliver a variety of services, including but not limited to:
- Serving as a compensation point-of-contact for business leaders within your organization
- Administering training to new hires and existing staff
- Performing market analyses
- Providing other operational and compensation program management support
