Offering competitive compensation is essential in today’s healthcare environment. After all, nearly every healthcare organization faces stiff competition when recruiting staff. The challenge is even more pressing in rural areas where experienced talent is harder to come by. This was the case for Uniontown Hospital in Pennsylvania, a community hospital featuring very individualized positions. Without a proper healthcare compensation data solution, the organization struggled to determine whether or not it was offering competitive wages.
Struggling to Keep Pace
As the lone compensation/IT analyst at Uniontown Hospital, Deidra Grimm struggled to ensure her organization was paying competitively. To develop a pay scale and compare Uniontown to its peers, Grimm aggregated data from numerous compensation market data analysis surveys. Unfortunately, these surveys did not strongly match the positions at Uniontown. This resulted in Grimm reading every job title and description to identify the closest matches. Even then, the surveys were only released once or twice a year, so the information was largely outdated when Grimm consulted it. Coming up with a pay baseline for the organization’s 1,110 employees and approximately 200 annual new hires was challenging and time-consuming.
Tapping into a Comprehensive Solution
Wanting compensation information at her fingertips, Grimm started searching for a solution. After seeing a demo of HealthcareSource Pay DataSM at a conference, she presented it to her immediate leadership consisting of the Director of HR and Executive Director of HR. They in turn took the recommendation to the CEO, who approved the purchase. According to Grimm, getting started was extremely simple. “HealthcareSource ‘flipped a switch’ and I had access,” she explains.
Accessing Compensation Data with Ease
With access to Pay Data, Grimm can much more easily compile and analyze relevant healthcare compensation data. She greatly appreciates the fact that she no longer needs to manually aggregate data and match positions. She can even create customized pay markets, such as viewing finance compensation across industries. The ready access to accurate data prompted Grimm to spearhead a project to reevaluate all leadership compensation.
Even better, Grimm can now work from an accurate baseline. “Before I could barely match 10% of our positions. Now it’s easy to find positions that closely match ours. Plus, the data is continuously updated so I never have to question my analysis and recommendations, and the hospital can feel confident about its compensation decisions,” says Grimm. As a result, Uniontown can more easily stay competitive in the local job market. “We do not have much to compare to because we are in a rural area. But with Pay Data, we know we are offering competitive compensation, which helps us more easily retain existing employees and bring new ones on board,” concludes Grimm.
Building a Patient-Centered Workforce
To build a Patient-Centered WorkforceTM you need to stay competitive when attracting talent and to ensure employee satisfaction. HealthcareSource Pay Data and HealthcareSource Survey ManagementSM automate the process of creating, managing, and analyzing the healthcare compensation data that influences your salary recommendations and adjustment decisions, and help you stay competitive to recruit and retain top healthcare talent. These compensation market data analysis solutions are designed to save time, so that your compensation team can focus on strategy, not spreadsheets and other manual processes.
As proven by the success experienced at Uniontown Hospital, harnessing compensation market data is the simplest way to verify that you and your hiring team are making informed decisions regarding your compensation packages, whilst providing you with proof that your organization’s pay rates are fair and competitive with your healthcare peers.