In excellent HCOs, Human Resources Management (HRM) emphasizes training for virtually all associates, supports the transformational culture by training all managers and supporting their development, and advises on all human resource issues. Traditional HRM functions of recruitment, compensation, benefits management, and collective bargaining continue. In fulfilling its purposes, HRM becomes a central force that shapes and sustains the culture of empowerment and transformation, a major contributor to improvement goals and a critical component of strategy development.
Upon completion of this assignment, you should be able to:
Analyze the reasons that HCOs strive for compensation that treats similar positions equitably and that is competitive with similar employment elsewhere.
Textbook: The Well-Managed Healthcare Organization
Website: Online Student Resources and Book Companion: http://www.ache.org/pubs/hap_companion/book.cfm?pc=2156
Compensation constitutes more than half the expenditures of most HCOs. From the organization’s perspective, such a large sum of money must be protected against both fraud and waste. From the employee’s perspective, accuracy regarding amount, timing, and benefit coverage should be perfect. Fair compensation is based upon perceptions and must be properly managed to find the win-win for the HCO and the employee.
Review Chapter 11 in The Well-Managed Healthcare Organization.
Navigate to the threaded discussion and respond to the following topic adapted from The Well-Managed Healthcare Organization:
a. The local news calls, having found the HCO’s IRS Form 990. The reporter notes that the CEO and several employed physicians are listed with generous compensation. She’d like an explanation of the HCO’s policy.
What’s the best answer? (p. 350)
What are the key takeaways you want the reporter to put in her story? (p. 350)
How do you ensure compensation is equitable?
Your initial response should be 200to 250 words in length and include at least one citation from the textbook, articles, or other credible sources. Your citations must be in proper APA format.