HealthStream offers performance learning management solutions to help develop your healthcare staff into leaders and reduce turnover.
View All ProductsHealthStream works with healthcare organizations to create engaging and high-quality training videos for your staff and management.
View All ProductsImprove care quality and save money by making informed decisions about your healthcare facility and staff with HealthStream's reporting analytics solution.
View All ProductsHealthStream's proven methods for the improvement and overall engagement of your healthcare staff foster a positive workplace and increase retention rates.
View All ProductsBe confident in your staff’s ability to reduce risk by providing compliance training that changes behavior.
View All ProductsDevelop next-level people for next-level care by prioritizing quality and safety improvements.
View All ProductsStandardize policy and procedure management with an automated, customized, and centralized system.
View All ProductsEstablish a culture of belonging with education supporting DEI, wellness, engagement, and leadership development.
View All ProductsDeliver custom or industry designed product training directly to patient and resident care environments to reinforce proper use.
View All ProductsStreamline the revenue cycle management process and protect your bottom line with expert-backed education.
View All ProductsIn all areas of resuscitation, from neonatal to elderly care, clinical deterioration is a risk that can be avoided with the help of HealthStream's training programs.
View All ProductsNurture the skills of your nurses and medical staff to help mold them into effective leaders with development training from HealthStream.
View All ProductsMake sure your clinicians have the support they need to provide competent care with clinical competency training and development from HealthStream.
View All ProductsHealthStream’s learning management system and comprehensive suite of competency management tools empower your healthcare workforce to deliver the best patient care.
View All ProductsThe suite of healthcare onboarding solutions available from HealthStream aids in nurse retention and improved patient outcomes.
View All ProductsGive your healthcare staff the decision support and skills training they need with the online products available from HealthStream.
View All ProductsHealthStream leverages medical professional development in healthcare by providing staff training programs
View All ProductsCreate engaging and impactful learning experiences that meet the unique needs of your acute care staff.
View All ProductsTackle all the challenges of provider directory management within a health plan with a single solution tailored to your specific needs.
View All ProductsOur affordable CVO credentialing services establish patient safety by enabling primary source verification for your healthcare organization.
View All ProductsFinally, a comprehensive resource to support collecting, storing, and sharing credentialing data with ease.
View All ProductsIntegrate with Epic to validate and add new providers directly to your provider master file.
View All ProductsHealthcare workforce management is essential. We provide advanced scheduling solutions for organizations to solve issues such as nurse retention
View All ProductsMitigate risk and elevate your quality of care. Improving both clinical and business outcomes starts with a smarter, more integrated approach to regulatory training, continuing education and quality management.
Learn MoreThis blog post is the first of four excerpting our article, It Pays to Overhaul Compensation: Boost Retention and Operational Efficiency.
Ask any healthcare executive about employee engagement, and you’ll hear a lot about employee and leader rounding, alongside a host of other communication tools that are trending in the industry right now. Ask that same person about compensation strategies, and the answer—if there is one—will likely be more subdued.
Start Thinking About Compensation as a Strategy
That’s largely because compensation is seldom seen as an overarching strategy to drive employee recruitment, retention, and satisfaction. Rather, it’s usually viewed as a stand-alone element of employee engagement, to be brought up during annual reviews. And unless an organization is sizeable, there’s unlikely to be a compensation director; these duties fall somewhere between HR and accounting. The result is at best a compensation manual that’s as outmoded as the ones for long-discontinued software, or a spreadsheet system that’s equally creaky and ineffective.
Transform Annual Reviews into a Planning Tool
“As an HR leader or compensation leader, you typically conduct a lot of compensation work via Excel spreadsheet.,” says Trisha Holbert, MA, SPHR, Associate Vice President, Talent Solutions, at HealthStream. “Someone spends a lot of time updating those—just to have the end product out of date due to hiring, turnover, or transfers. Several years ago, we began exploring how a compensation strategy could be more than just an annual review process, and instead be a tool for engagement and growth within a company. We realized that a planning tool would, if developed properly, affect the bottom line in many ways. If you’re improving retention, and paying for performance vs. just presence, you’re an employer who’s going to solve a lot of internal problems while also controlling costs.”
As a former vice president of human resources, Holbert knows how cumbersome the healthcare compensation management process often is at every employee level, from senior management to the hourly worker. She also understands why things remain the same even in the face of complications— evaluating new systems and implementing change can be incredibly difficult and time consuming.
The full article advises healthcare leaders to:
Download the article here.
HealthStream’s learning management system and comprehensive suite of competency management tools empower your healthcare workforce to deliver the best patient care.
View All Learning & PerformanceHealthStream offers performance learning management solutions to help develop your healthcare staff into leaders and reduce turnover.
View All ProductsHealthStream works with healthcare organizations to create engaging and high-quality training videos for your staff and management.
View All ProductsImprove care quality and save money by making informed decisions about your healthcare facility and staff with HealthStream's reporting analytics solution.
View All ProductsHealthStream's proven methods for the improvement and overall engagement of your healthcare staff foster a positive workplace and increase retention rates.
View All ProductsWhen you enact HealthStream's quality compliance solutions, you can do so with the confidence your healthcare organization will meet all standards of care.
View All Quality & ComplianceBe confident in your staff’s ability to reduce risk by providing compliance training that changes behavior.
View All ProductsDevelop next-level people for next-level care by prioritizing quality and safety improvements.
View All ProductsStandardize policy and procedure management with an automated, customized, and centralized system.
View All ProductsEstablish a culture of belonging with education supporting DEI, wellness, engagement, and leadership development.
View All ProductsHealthStream offers professional training and education on how to best optimize your reimbursement process within your healthcare organization.
View All ReimbursementStreamline the revenue cycle management process and protect your bottom line with expert-backed education.
View All ProductsLearn about our advanced resuscitation training solutions. Our solutions are designed to help improve patient outcomes.
View All ResuscitationIn all areas of resuscitation, from neonatal to elderly care, clinical deterioration is a risk that can be avoided with the help of HealthStream's training programs.
View All ProductsNurture the skills of your nurses and medical staff to help mold them into effective leaders with development training from HealthStream.
View All ProductsExpand the decision-making skills and effectiveness of your healthcare workforce with HealthStream's clinical development programs and services.
View All Clinical DevelopmentMake sure your clinicians have the support they need to provide competent care with clinical competency training and development from HealthStream.
View All ProductsHealthStream’s learning management system and comprehensive suite of competency management tools empower your healthcare workforce to deliver the best patient care.
View All ProductsThe suite of healthcare onboarding solutions available from HealthStream aids in nurse retention and improved patient outcomes.
View All ProductsGive your healthcare staff the decision support and skills training they need with the online products available from HealthStream.
View All ProductsHealthStream leverages medical professional development in healthcare by providing staff training programs
View All ProductsComprehensive, industry-leading provider onboarding and credentialing software that validate health outcomes and support provider assessment.
View All CredentialingOur affordable CVO credentialing services establish patient safety by enabling primary source verification for your healthcare organization.
View All ProductsIntegrate with Epic to validate and add new providers directly to your provider master file.
View All ProductsMake sure your healthcare staff can schedule out appointments and work schedules with ease using HealthStream's line of software solutions.
View All SchedulingHealthcare workforce management is essential. We provide advanced scheduling solutions for organizations to solve issues such as nurse retention
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