Dynamic pay strategies for the changing health care environment

In the rush to adapt to the rapidly shifting health care environment, organizations have spent thousands of hours and dollars changing structures, processes, and jobs. Largely overlooked have been compensation strategies, which if used effectively are critical drivers of the change process. This article details the following issues: the evolution of new health care work cultures and the need for compensation strategies that are aligned with these new cultures; dynamic reward and recognition strategies, including team- and competency-based pay, and their application in the health care environment; and the changing role of the nurse manager in developing, implementing, and administering dynamic reward programs.