In an effort to ease the pandemic-related toll on its front-line workers, Banner Health has raised its minimum hourly wage and starting pay for many RN positions.
Compensation Issues
Some employers may tack on health coverage surcharges for employees who don't plan to get fully vaccinated against COVID-19, according to an Aug. 5 blog post from Mercer, an asset management firm.
Virginia Commonwealth University Health System is raising its minimum hourly wage from $12 to $15, the Richmond-based organization said Aug. 10.
With America's projected physician shortage and the financial effects of the COVID-19 pandemic, it is important to keep tabs on how physician compensation is evolving.
The following health systems revealed plans in June, July and August about offering employees a bonus if they are vaccinated against COVID-19:
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Family medicine physicians saw the greatest average signing bonus offered to recruits among the five most requested medical specialties, according to Merritt Hawkins' "2021 Review of Physician and Advanced Practitioner Recruiting Incentives."
Physician assistants saw the greatest year-over-year increase to base salaries offered to recruits, according to Merritt Hawkins' "2021 Review of Physician and Advanced Practitioner Recruiting Incentives."
Amid a worker shortage and the latest COVID-19 wave, Little Rock-based University of Arkansas for Medical Sciences is offering a $25,000 signing bonus for nurses, CNN reported Aug. 5.
Employees at St. John's Health in Jackson Hole, Wyo., can expect a 6 percent boost in wages.
New hires and employees of Holland (Mich.) Hospital will receive an extra $3 more per hour over the coming months as part of a new incentive program, the hospital said.