Charlottesville-based University of Virginia Health System is dedicating more than $30 million in fiscal year 2022 for increased compensation as a way to reward and retain staff.
This will include market pay adjustments for a large portion of the organization's workforce, according to an Oct. 5 news release from the organization.
"As we continue to experience the impact of the pandemic, we are extremely mindful of the current operational challenges that impact our team members," said CEO Wendy Horton, PharmD. "We have prioritized compensation as essential to our operations, and the more than $30 million we are devoting to compensation is a significant budget increase from previous years."
This is the beginning of a plan to retain and recruit staff. In January, the UVA Medical Center will complete another market review to investigate shifts that could further change compensation planning.