6 recent hospitals, health systems investing in employee compensation

While hospitals and health systems struggle with staff shortages, they're making major investments in employee compensation.

Six compensation initiatives announced in November, as reported by Becker's:

1. Spectrum Health to make $117M investment in higher pay, bonuses
To retain and recruit employees, Grand Rapids, Mich.-based Spectrum Health plans to spend $117 million for pay increases and bonuses, MiBiz reported Nov. 21.

2. Advocate Aurora Health invests $93M to boost minimum wage
Advocate Aurora Health will invest $93 million to boost its minimum hourly wage, the health system said Nov. 11.

3. Overlake Medical Center invests $23M in workforce
Bellevue, Wash.-based Overlake Medical Center & Clinics is investing $23 million in its workforce, which includes retention bonuses and a minimum wage increase.

4. Maine hospital raises minimum wage to $17 an hour
To improve retention and recruitment, Bangor-based Northern Light Eastern Maine Medical Center is increasing its minimum wage to $17 an hour, which will affect nearly 2,000 employees, the Bangor Daily News reported Nov. 5.

5. Augusta Health to invest $10.6M in employee compensation
Fishersville, Va.-based Augusta Health will spend $10.6 million on employee compensation improvements, which go into effect Dec. 5.

6. 92,000 UPMC employees to receive $500 bonus
All 92,000 staff members of UPMC are set to receive a $500 bonus to thank them for their work during the COVID-19 pandemic.

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