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Related Experiment Videos

Pay incentives for the long haul.

J Greene

    Modern Healthcare
    |February 17, 1992
    PubMed
    Summary

    Many hospitals are adopting long-range compensation programs to reward executive performance. These programs aim to achieve financial and non-financial objectives while enhancing executive retention.

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    Area of Science:

    • Healthcare Management
    • Executive Compensation
    • Hospital Administration

    Background:

    • A small but growing number of acute-care hospitals are implementing long-range compensation programs.
    • These programs are increasingly viewed as a strategic tool for hospital leadership.

    Purpose of the Study:

    • To explore the motivations behind the adoption of long-range compensation programs in hospitals.
    • To understand the perceived benefits, including financial and non-financial objectives.
    • To assess the impact on executive retention in the healthcare sector.

    Main Methods:

    • Analysis of current trends in hospital executive compensation strategies.
    • Review of objectives associated with long-range incentive plans.
    • Examination of the role of compensation in executive recruitment and retention.

    Main Results:

    • Hospitals utilize these programs to meet diverse financial and operational goals.
    • A key driver for adoption is the desire to improve the retention of essential executive talent.
    • These programs offer a structured approach to aligning executive performance with organizational objectives.

    Conclusions:

    • Long-range compensation programs are emerging as a significant strategy in hospital management.
    • These initiatives support both financial performance and the critical need for executive stability.
    • Hospitals are increasingly recognizing the value of performance-based executive rewards for long-term success.

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