Centura Health boosts pay, benefits by $82M

Centura Health is investing an additional $82 million in compensation and benefit changes for its 21,000 employees, the Centennial, Colo.-based health system announced Nov. 30.

The changes affect workers at hospitals, physician clinics and community care settings in Colorado and western Kansas. They include increased tuition reimbursement, paid time off cash-outs, housing stipends, changes to sign-on bonuses, and market-based bonuses and adjustments.

"I remain incredibly proud and grateful for how our caregivers have continued to extend whole person care to our patients, our neighbors and our communities when they need us the most," Peter D. Banko, president and CEO of Centura Health, said in a news release. "We have an unwavering commitment to our people — they are our first priority in words and, more important, action. Now more than ever, we are transforming our culture, redesigning our work and supporting our colleagues in new ways through enhancement of our total rewards structure and introducing new benefits as we continue our journey to become the system of choice for our caregivers."

Under the compensation and benefit changes, annual tuition reimbursement will climb to $5,000 for full-time workers and $2,500 for part-time workers, effective Jan. 1, according to Centura.

The health system said it is also providing eligible workers a one-time PTO cash-out option, under which they may elect to cash out up to 80 hours of PTO.

Other offerings include a Summit County housing stipend for eligible workers starting in January; increased up-front bonus payments to new employees in key bedside positions; a market-based bonus to nearly 20 percent of employees in high-need areas; and additional market adjustments in 2021 for select positions.

The $82 million investment is on top of $66 million in salary increases Centura announced in October, $24 million in March 2021 and $29 million in December 2020.

Overall, Centura's investments in compensation and benefit increases tops more than $200 million since December 2020, according to the health system.

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