Hospital CEO in Boston Recognized for Altruistic Paycut Policy

Paul Levy, president and CEO of Beth Israel Deaconess Medical Center in Boston, is being recognized for his altruistic paycut policy, in which he convinced higher-paid employees to take a paycut in order to retain lower-paid staff, according to a report by the Boston Globe.

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Beliefnet.com, a religion Web site, cited Mr. Levy’s actions when it recently nominated him as a finalist for its “Most Inspiring Person of the Year” award.

When Mr. Levy gathered his employees this March and proposed the policy, he was met with thunderous applause. Many staff voluntarily agreed to forgo raises and take unpaid days off so that other employees could stay on the job.

Read the Boston Globe’s report on Paul Levy.

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