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Management compensation. A reward systems approach
1Nursing Services, Youngstown Osteopathic Hospital, OH.
The Journal of Nursing Administration
|July 1, 1991
Summary
Businesses are adopting innovative compensation systems to reward employee performance. Nurse executives face challenges in designing management pay structures that recognize achievement and contribution using reward systems approaches.
Area of Science:
- Healthcare Management
- Organizational Behavior
- Human Resources
Background:
- Businesses nationwide are evolving traditional reward structures.
- Innovative compensation systems are emerging to meet new business demands.
- Nurse executives must adapt management compensation to align with performance.
Purpose of the Study:
- To explore innovative compensation systems for rewarding performance.
- To provide nurse executives with a framework for management compensation.
- To discuss a reward systems approach to compensation.
Main Methods:
- Literature review of contemporary pay concepts.
- Analysis of reward systems in management compensation.
- Conceptual framework development.
Main Results:
- Emergence of newer, more innovative compensation systems.
- Management compensation systems should reward achievement, performance, and contribution.
- A reward systems approach is applicable to contemporary pay concepts.
Conclusions:
- Nurse executives need to design compensation systems that reflect current business trends.
- Reward systems offer a strategic approach to management pay.
- Aligning compensation with performance is crucial for organizational success.