Hospital Executive Advantage Plan™
Executive turnover is an increasing threat to the continuity of health care delivery in the United States. Leadership change can be disruptive for any organization, but the complexities of healthcare organizations can make it an even bigger challenge.
Rural and community-based hospitals are even more dependent on administration for day-to-day operations and tasks. This increases the risks associated with talent turnover, which often results in quantitative and qualitative losses that have an impact on healthcare organizations.
Retain and reward your top executive talent with the Hospital Executive Advantage Plan™. By linking compensation to loyalty, performance or other quality metrics, you will create alignment in your organization and establish a culture of continuity. This will help you bolster your relationships and attract the right talent for your organization.
As an enhancement to the executive’s overall total rewards, the Hospital Executive Advantage Plan does not interfere with or coordinate with other benefits such as qualified plans. Most importantly, the flexible platform may be customized to meet the unique needs of your hospital.
Key Advantages and Benefits
Unlike qualified plans, the program does not have a maximum deferral limit
Benefits accrue without current income taxation
Does not coordinate with (or diminish) qualified plans
Enhances overall “total rewards” package for executives
Provides a significant reward for stability and retention
Cost effective use of existing assets to retain and reward superior performance and longevity
Rewards May be linked to annual or short-term performance and/or quality measurements
The repositioned asset provides diversification of hospital investments
Selective participation allows for the selection of eligible executives at the hospital’s discretion
Cost efficient and simple to administer
Want to Learn more? Let’s Talk
Every healthcare organization is unique. Our solutions are designed to be customized in order to fit your needs. If you would like to find out more about us and our solutions or simply discuss your organization's compensation challenge, complete the form below and we will arrange a call with one of our consultants.