Is it challenging for your organization to successfully 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 related to talent acquisition and retention.
These challenges continue to generate a substantial burden for various HR functions and can result in a lack of essential time and resources for addressing critical operational needs.
Don’t let critical compensation initiatives fall by the wayside. Our approach to co-sourcing allows us to provide annual compensation planning, survey operations, market benchmarking, and other services to help your organization strategize, effectively manage, and enhance results in a complex environment.
Additionally, leveraging years of experience and longstanding health care industry expertise in total rewards and strategic workforce planning, SullivanCotter can provide interim strategic support – either in a short-term or longer-term capacity – to drive a more consistent, accurate and cost-effective compensation management process while imparting best practices to ensure market alignment.
Our comprehensive Co-Sourcing/contracting services include:
- Compensation Planning: Review salary structure(s) and model costs, identify areas for improvement, and recommend relevant compensation adjustments.
- Survey Operations: Facilitate annual benchmarking by managing employee survey submissions, mapping client jobs to appropriate survey matches, auditing/peer-reviewing data, maintaining market-standard compliance, and more.
- Portfolio Management: Track and administer ongoing changes to survey job profiles, coordinate with survey vendors to ensure successful implementation, and effectively manage multiple survey platforms on behalf of your organization.
- Market Benchmarking Analysis: Conduct competitive analyses and compare organizational practices to market benchmarks – leveraging SullivanCotter’s proprietary Benchmarks360™ technology solution.
- Market Insights: Provide strategic insight on market trends, including annual pay structure movement and merit adjustments.
- Job Description Support: Support documentation needs associated with creating new roles or revising existing roles, aiming to market price and evaluate roles upon completion.
- Interim Support: Provide support via a dedicated SullivanCotter consultant deliver a variety of services, including but not limited to:
- Serving as a compensation point-of-contact for business leaders within your organization
- Delivering ad-hoc advisory services
- Administering training to new hires and existing staff
- Performing market analyses
- Providing other operational and compensation program management support
SullivanCotter offers additional specialized services through co-sourcing, tailored to meet client needs, including essential initiatives such as Pay Equity and the development and maintenance of governance structures
