As the healthcare environment begins to move into the hands of a younger generation from the baby boomers, new compensation models should be considered, according to an article from Integrated Healthcare Strategies.
Baby boomers are used to pay models based on experience: The more dedicated you are to an organization and the more years of experience you accrue, the more you get paid.
"Generation Y" is different because this generation of employees is more committed to their work than their organization, according to the article. Consequently, healthcare organizations that employ work-focused employees could consider skill-based pay, which rewards acquired skills, knowledge and breadth of experience instead of only duties and responsibilities performed during a tenure.
Baby boomers are used to pay models based on experience: The more dedicated you are to an organization and the more years of experience you accrue, the more you get paid.
"Generation Y" is different because this generation of employees is more committed to their work than their organization, according to the article. Consequently, healthcare organizations that employ work-focused employees could consider skill-based pay, which rewards acquired skills, knowledge and breadth of experience instead of only duties and responsibilities performed during a tenure.
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