Bringing Total Rewards In Line With Organizational Business Strategy

Download Now Date Added: May 2010
Format: HTML

A 400-bed not-for-profit hospital, during the implementation of its strategic plan, found that its total rewards programs were not doing well and in need of critical care. This hospital was among the oldest and largest hospitals in the region and also one of the largest local private employers with more than 3,300 full-time and part-time employees. Also, the hospital was witnessing both steady growth and a shortage of Registered Nurses (RNs), which were among their most critical workforce. It realized that in order to be the leading choice for health care and employment in the region, the hospital would need a comprehensive total rewards strategy that could attract talent while satisfying a diverse workforce that included managerial, administrative, medical and service staff. It wanted to transform its total rewards strategy so as to be aligned with employee preferences and corporate goals. To achieve its goals, the hospital sought assistance from Deloitte. Deloitte helped the hospital organization plan and conduct a comprehensive review of its total rewards program, along with employee attitudes and preferences, market analysis for compensation and benefits, and more. Using the findings of the assessment, the organization decided to revitalize its total rewards program to reflect campus care, shared responsibility and employee choice. Deloitte assisted the organization to better align its overall strategy with its total rewards program and thereby raising its profile as an employer of choice for the region.