Despite healthcare workers braving the worst of the pandemic, compensation isn't poised to improve compared to other industries, according to a new compensation survey.
Payscale's "2022 Compensation Best Practices Survey" gathered responses from 5,578 respondents who were involved in their company's compensation process between November 2021 and January 2022. The respondents across 15 industries were asked about their plans for compensating workers and biggest workforce-related challenges.
Six findings:
- The healthcare industry was one of the least likely to commit to giving workers raises of over 3 percent, with only 32 percent of healthcare industry respondents saying they would. The industry came in behind the education sector (at 25 percent) and hospitality (at 32 percent).
- On average, 44 percent of employers said they would raise worker pay by more than 3 percent.
- Eighty-seven percent of healthcare industry respondents said they faced hiring challenges in 2021.
- Only 10 percent of respondents working in the healthcare industry said that automation was the future, and even fewer, at 4 percent, said they were looking into it to replace human workers.
- Forty-three percent of respondents in healthcare didn't give pay increases in 2021 to make up for pay cuts or freezes in 2020 and don't plan on doing so this year.
- However, 55 percent of healthcare respondents plan to shift their pay strategies and structures in 2022.