Richmond, Va.-based Bon Secours Mercy Health plans to invest $17 million over the next three years to raise its minimum wage to $15 per hour, according to local CBS affiliate WTVR.
More than 8,000 employees will benefit from the wage increase, which will take place in phases, according to the report. The health system also plans to begin offering benefits like well-being programs and savings and retirement programs. The new compensation plan was announced Dec. 19.
"I'm excited about this refinement to our compensation philosophy. It's the right thing to do for our associates and it's one more way that we ensure Bon Secours Mercy Health is the place where people want to work, sharing their talents, skills, and passions in support of Jesus' healing ministry," said Joe Gage, chief human resources officer of Bon Secours Mercy Health, according to the report.
Read the full story here.
More articles on compensation issues:
Healthcare businesses recruiting most $100K-plus managers
10 cities with the largest physician pay growth
10 highest-paying medical specialties