The future of compensation management: don’t get left behind
As organizations seek innovative solutions to adapt and thrive, it’s important not to neglect comp management. The right solution, that addresses the comp workflow from source system data transformations all the way through to business rule automation, can empower organizations with the technology and visibility required for a profitable, value-based future.
Takeaway: Is your comp, ops and finance team fighting with data corrections/calculations or dealing with caveats outside the your comp system? Let’s talk.
Preparing for the workforce of the future
The healthcare workforce is undergoing significant changes, with shifts in job perspectives, departures for new opportunities, and evolving expectations. Despite projected shortages in certain healthcare roles, recent data indicates a positive trend in overall healthcare employment. Health system executives are addressing workforce composition and shortages through initiatives such as residency programs, virtual care integration, flexibility, and upskilling opportunities.
Takeaway: Which initiatives are you implementing now to address the workforce of the future?
Physician compensation by the numbers
AMN Healthcare reports that plastic surgery and cardiology remain among the highest-paid specialties, while public health, preventive medicine, and pediatrics are on the lower end. Anesthesiology, oncology, and psychiatry consistently show high pay raises, with psychiatry experiencing a 19% increase to a median of $355,000. Data shows an increase in the average signing bonus for physicians, and that gender and minority pay differences persist, with male physicians and certain ethnic groups earning more than their counterparts.
Takeaway: Are your compensation packages competitive and attracting top talent?