In a changing economic landscape, designing effective compensation strategies for executives, physicians, advanced practice providers and other employees is more challenging than ever before.
Developing competitive programs that drive individual performance and align with key organizational objectives is critical as health care and not-for-profit organizations compete to attract and retain the industry’s top talent.
SullivanCotter works closely with clients to design highly customized compensation programs that support organizational priorities. Combining data-driven intelligence with this tailored approach, we help health care and other not-for-profit organizations achieve their business objectives and fulfill their missions while staying in compliance with the changing regulatory environment.
We help our clients design compensation programs that drive performance through:
- Total employee compensation and benefits philosophy, policy and strategy alignment
- Base salary and pay-for-performance plan designs
- Cash compensation audits
- Cost impact analyses, implementation planning
- Defining performance and identifying appropriate value-based metrics
- Evaluation of current compensation plans
- Education on market trends and work effort allocation methodologies
- Survey selection and market benchmarking
- Stakeholder interviews and focus groups
- Compensation philosophy development
- Development of conceptual compensation models
- Measurement system and scorecard assessment
- Financial modeling and impact assessments
- Communication/ implementation assistance
- Plan administration support