MHA Monday Report Jan. 24, 2022

MHA Monday Report

MICNP and MSMS Address Legislative Policy Panel

The MHA Legislative Policy Panel convened Jan. 19 to develop recommendations for the MHA Board of Trustees on legislative initiatives impacting Michigan hospitals. The meeting was highlighted by presentations from representatives of the Michigan Council of Nurse Practitioners and the Michigan State Medical Society …


Grants Awarded to Address Substance Use Disorder in Upper Peninsula

Blue Cross Blue Shield of Michigan announced Jan. 19 that four Upper Peninsula community organizations will receive $490,000 in grant funding to help them address gaps in service for individuals and families facing substance use disorder and to support the development and growth …


Register Now for Jan. 28 Workplace Violence Response Training

According to the Bureau of Labor Statistics, healthcare workers are five times more likely to suffer a workplace violence injury than workers overall. This affects workers not just physically, but mentally, contributing to burnout and worsening turnover. …


Virtual Breakthrough

MHA Breakthrough Discounts on Registration, Hotel Rates Expire Soon

The MHA’s major membership meeting Breakthrough will be held Feb. 17 and 18 at the Grand Traverse Resort and Spa. The early registration discount will expire Jan. 28 and the discounted room rate at the Grand Traverse Resort and Spa will expire Jan. 26. …


Nominations Open Through Feb. 18 for MHA Ludwig Community Benefit Award

The valuable role of Michigan hospitals and healthcare providers during the COVID-19 pandemic is unmistakable. Brave personnel throughout these facilities have worked for two years to care for the staggering number of patients coming through their doors. …


Member Forum to Examine MHA Strategic Action Plan

The MHA will host a virtual member forum from 2 to 3 p.m. Feb. 24 to outline the MHA 2021-2022 program year’s strategic action plan, which the MHA Board of Trustees approved in August. The forum will review the priorities set for the year, progress to date, and the tactics the association will use to …


Trustees Strategic Planning Webinar and New AHA Trustee Insights Available

The webinar Governance Megatrends: What is the Impact on Your Board? Is scheduled from 1 to 2 p.m. Jan. 26 and will focus on relevant trends to the board and how to perform a comprehensive review of an existing strategic plan through pandemic-era eyes. Registrants will examine …


Salary.comSalary.com Offers 2022 Compensation Best Practices E-book

Salary.com, an MHA Endorsed Business Partner, is sharing its “10 Compensation Best Practices” e-book as a resource for hospital leaders to consider in developing compensation strategies. Hospitals and health systems continue to transform, and compensation …


News to Know

  • The MHA will host a free Lunch and Learn webinar from noon to 12:45 p.m. ET Feb. 1 to provide an update on the latest labor market trends and leading practices to attract and keep valuable employees.
  • DataGen hosted a national webinar Jan. 19 to review the 2022 Medicare fee-for-service outpatient prospective payment system final rule and hospital impact analysis. A recording from the webinar is available online.

MHA in the News

WXYZ Detroit interviewed MHA CEO Brian Peters Jan. 19 to discuss the impact the COVID-19 surge is having on health systems statewide.


Salary.com Offers 2022 Compensation Best Practices E-book

Salary.com

Salary.com, an MHA Endorsed Business Partner, is sharing its 10 Compensation Best Practices” e-book as a resource for hospital leaders to consider in developing compensation strategies.

Hospitals and health systems continue to transform, and compensation practices need to keep pace. Staff retention has become a top concern, and diversity and pay equality issues are critically important.

An organization’s compensation philosophy is the first step toward fair and competitive pay, leading to higher retention rates and the ability to attract top talent. Employers can open the level of transparency throughout the organization and develop trust among employees. The philosophy will help answer employees’ questions about how their pay is determined.

Downloading Salary.com’s “10 Compensation Best Practices” e-book will help healthcare leaders review their compensation philosophy in the context of today’s human resources challenges and discover other strategies for setting appropriate pay structures in 2022.

Members with questions may contact Kevin Plunkett at Salary.com. For more information on the MHA Endorsed Business Partner program, contact Rob Wood at the MHA.

Salary.com Shares Resources for Developing Compensation Strategies

salary.com

As part of an educational series from the MHA Endorsed Business Partners, Salary.com shared the following three resources for hospital leaders to consider in developing compensation strategies.

As part of its Get Pay Right podcast series, Salary.com explores Remote Work and Compensation. In this episode, Salary.com leaders share insights from the latest research and discuss how to define a strategy for remote pay and ways to address the impact on compensation, pay equity and culture.

As organizations evaluate their post-pandemic hiring practices, many are offering signing bonuses to stand out in the shifting war for talent, but is this a short-term fix? Salary.com’s recent New Hire Pay Practices Pulse Survey shows the extent to which organizations are increasing pay levels to attract top talent and how new hire pay practices are impacting internal equity. The results highlight important findings that organizations should consider as they define their post-pandemic practices.

Finally, Salary.com shared new findings from the annual National Salary Budget Survey. Planned 2022 salary increases for U.S. workers are trending upward, breaking a 10-year flat cycle. Forty one percent of organizations will have a higher salary increase budget in 2022 than 2021.

Members with questions may contact Kevin Plunkett at Salary.com. For more information on the MHA Endorsed Business Partner program, contact Rob Wood at the MHA.

Salary Benchmarking is an Important Consideration in Setting Competitive Pay

salary.com

Salary benchmarking is a process by which managers match internal jobs and their descriptions to similar jobs and descriptions in a salary survey or other source of market pay data to identify the market pay rate for each position. As one of the MHA’s Endorsed Business Partners (EBPs), Salary.com offers pricing intelligence and strategic solutions to workforce challenges.

In a typical year, annual salary benchmarking helps ensure that an organization’s internal pay rates remain competitive within local pay markets. In 2021, salary benchmarking takes on a new level of importance as organizations have been impacted enormously by the COVID-19 pandemic and undergone major shifts in employment and pay rates. These shifts have not been the same across every industry or job type, so it’s critical to plan benchmarking initiatives using the most current compensation data from trusted sources.

When pricing a new position, it's important to understand not only the key attributes of the positions being considered, but also the best source for the data necessary to conduct an accurate market assessment and salary comparison. The first step in this process is to define the internal position, documenting the key job requirements and attributes in a job description. Then select a relevant data source for the business and compare the jobs and job descriptions there to find the best match for the job being priced. This is critical to an effective salary benchmarking exercise.

MHA members are eligible for discounted prices for Salary.com’s trusted human-resource-sourced data. Special offers from Salary.com allow MHA members to stay competitive and set pay appropriately while being fiscally responsible.

Visit the MHA EBP webpage to learn more about available member resources. Questions regarding the EBP program should be directed to Peter Schonfeld at the MHA.

MHA Endorsed Business Partner Salary.com Addresses Pay Equity and Compensation Strategies

salary.com

Salary.comDuring this time of both economic and societal upheaval, organizational commitment to fair pay remains high, according to the 2020 Pay Practices and Compensation Survey published in December by MHA Endorsed Business Partner Salary.com. Seventy-three percent of the surveyed organizations agree or strongly agree that their employees are paid fairly, and almost half rated their employee engagement as "excellent or above average." However, the survey revealed a lack of structure to support and validate that fair pay commitment. More than half (56%) of the responding organizations do not have a formal process in place to address pay equity.  

On a more positive note, formal compensation philosophies are slowly gaining more traction, with 62% of participating companies reporting having a compensation philosophy, up from 57% in 2019. However, 74% of these organizations still do not provide formal training to managers on how to talk with their employees about pay. To integrate a greater understanding of a compensation philosophy, employers must increase their level of transparency. This requires the review and improvement of pay policies and practices so they will be perceived by employees as fair in terms of being externally competitive and internally equitable.

To help organizations design, manage and improve their human resources compensation strategies and fair pay processes, Salary.com now offers free benchmark job reports to MHA members. These customizable reports leverage Salary.com's largest, most comprehensive compensation dataset of over 80 million records and 15,000 job titles across 225 industries and subindustries. Members receive access to aggregate compensation data for every state, major metro area and ZIP code nationwide. Additional reports are discounted off the Salary.com suggested retail price of $245 for members. Visit the Salary.com endorsed business partner profile page to learn more. Members should contact Peter Schonfeld at the MHA for more information on the MHA Endorsed Business Partner program.

Salary.com Survey Report Describes COVID-19 Impact on Compensation, Benefits

salary.com

Salary.comSalary.com, an endorsed business partner of the MHA and a leading software provider of cloud-based compensation data, software and analytics, released new survey data that shows 66% of employers either reduced their workforce or negatively impacted employee pay in response to COVID-19, though just 10% of survey respondents expect the layoffs to be permanent.

The downloadable summary report provides the results of the COVID-19 Compensation and Benefits Impact Survey that Salary.com conducted in mid-April. The survey targeted 1,176 compensation managers across the U.S. and Canada to better understand the full range of actions that employers and human resources professionals are taking in response to the COVID-19 pandemic. The report provides details on industries most impacted by the current crisis, as well as how organizations are adjusting base and variable pay and long-term compensation strategies.

Industries such as healthcare, retail (brick and mortar), manufacturing, and nonprofits — hit the hardest by the economic downturn — were more likely to take multiple negative actions that impacted employee pay. For all industries, 20% of employers eliminated planned merit raises for 2020 and another 24% are postponing merit increases. Within the healthcare sector, 52% indicated no change in merit increases in 2020, with another 31% indicating they did not know whether there would be a change. In terms of staffing, 26% of healthcare sector respondents implemented furloughs compared to an average of 30% in all industries. Additionally, 16% of healthcare respondents indicated an increase in temporary hiring, with another 15% indicating an increase in permanent hiring.

Salary.com plans to update the survey data quarterly to help organizations with total compensation decisions. Information on the complete Salary.com survey catalog and how to participate in future surveys, including the COVID-19 Compensation and Benefits Impact Survey and the 2020 Salary Budget Survey, is available on the Salary.com website. Members with questions may contact Greg Leonard at Salary.com. For more information on the MHA Endorsed Business Partner program, contact Rob Wood at the MHA.