As health care undergoes unprecedented change and the marketplace for talent grows increasingly competitive, hospitals and health systems must design executive compensation programs that effectively support the organization’s talent management strategy.

Executive compensation programs are evolving to meet the needs of business transformation while providing compelling and sustainable rewards in an uncertain environment.

To help ensure the effective governance of executive compensation, SullivanCotter recommends developing a Compensation Committee Handbook –- a valuable resource that can be made available to all Committee members.

As health care continues to evolve, pediatric hospitals and health systems face a unique set of challenges in the way they recruit, engage and retain key executive talent. Adapting to industry transformation and aligning executive incentive plan design and reward strategies with both the organization’s annual and long-term goals is critical, and requires a close review of health care industry norms and best practices.