Compensation strategy motivates executives to achieve goals.
A compensation strategy helps healthcare organizations motivate key executives to achieve business goals. Such a strategy has five elements: base salary, annual incentive plans, long-term incentive plans, perquisites, and benefits. In designing a compensation package, an organization should consider the managerial model of its executives plus the institution's culture and its position in the business life cycle.
D004649:Employee Incentive Plans; D006270:Health Facility Administrators / Q000191:economics*; D006740:Hospital Administrators / Q000191:economics*; D006764:Hospitals, Community / Q000458:organization & administration; D006777:Hospitals, Proprietary / Q000458:organization & administration; D006784:Hospitals, Teaching / Q000458:organization & administration; D010559:Personnel Management; D012456:Salaries and Fringe Benefits; D014481:United States