Compensation And Benefit Managementstudent Projectlakeside Health Cent ✓ Solved

Compensation and Benefit Management Student Project Lakeside Health Center is a health care organization which provides a 50 bed medical hospital and outpatient rehab services. Lakeside is a subsidiary of a large hospital, Sunnyview. The executive director of the health center reports to the CEO of the hospital, and the CEO of the hospital reports to a Board of Directors. Lakeside’s hospital is for less severe services. The more critical medical cases are handled at the parent hospital.

Lakeside‘s specialty is rehab services. These services can include rehab for sports injuries, rehab from strokes, etc. The city that Lakeside is in does have other medical clinics. Some of these clinics do offer rehab services also. In addition to Lakeside, Sunnyview does operate other clinics throughout the region.

Sunnyview’s mission statement does include providing efficient, quality care and being an employer of choice. Lakeside has been having problems with staff turnover. It appears from exit interviews that there is not consistency with pay patterns, pay scales, and equity among staff. With the medical profession being in short supply of workers, especially rehab workers, the Board wants this addressed. Lakeside does not have a formal pay model in place.

As the new Human Services Director, you will design the pay model for the organization. The project will include a formal document that the Executive Director can present to the Board for recommended implementation. Information regarding Lakeside’s staffing is as follows: 1.0 Executive Director Hospital : 1.0 Director of Nursing 7.0 RN’s 8.0 LPN’s 10.0 Nursing Assistants 3.0 Lab Technicians 2.0 X- Ray Technicians Rehab Center : 1.0 Rehab Director 7.0 Rehab Therapist 15.0 Rehab Therapy Assistant Administrative : 1.0 Office Manager 1.0 Billing Specialist 2.0 Accounting Clerks 3.0 Receptionist 1.0 Human Resource Manager 2.0 Human Resource Assistants There are a total of 65.0 FTE’s. (Full Time Equivalents) The number of staff in each category is as follows: Executive Director: 1 Director of Nursing: 1 RN’s: 12 LPN’s: 14 Nursing Assistant: 18 Lab Technicians: 4 X Ray Technicians: 3 Rehab Director: 1 Rehab Therapist: 9 Rehab Assistant: 13 Office Manager: 1 Billing Specialist: 1 Account Clerk: 2 Receptionist: 2 HR Manager: 1 HR Assistants: 2 The total number of staff is 85.

Physicians are contracted through the hospital. Janitorial and maintenance services are also contracted out. The students will develop a compensation plan for Lakeside Health Center. Throughout the course, part of the weekly assignments will be components of the plan that the student will compile into their final document. The student's final document should be submitted to the Dropbox by Day 7 of Week 8.

A recommended outline of the final document is as follows: Lakeside Health Center Compensation Plan I. Organizational Chart II. Compensation Objectives III. Job Analysis Guidelines IV. Job Description V.

Job Ranking VI. Performance Appraisal VII. Pay Scale (Pay Plan) VIII. Benefit Plan IX. General Policy Guidelines This is a recommended outline.

Students may revise their own plan as they choose, adding or modifying components. For example, a student may wish to add a compensation budget, or may choose to add a section on how the system will be managed. The final document should be considered a formal document. The final document should have a cover page, a table of contents, and each section should be identified and have the supporting information included. Each section should also contain a description of the information included.

More information will continue to be provided regarding sections of the plan throughout the course. Students should be working on their plan throughout the course as components of the plan are discussed.

Paper for above instructions

Cover Page
Lakeside Health Center
Compensation Plan
Prepared by: [Your Name]
Date: [Submission Date]
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Table of Contents

1. Organizational Chart
2. Compensation Objectives
3. Job Analysis Guidelines
4. Job Description
5. Job Ranking
6. Performance Appraisal
7. Pay Scale (Pay Plan)
8. Benefit Plan
9. General Policy Guidelines
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I. Organizational Chart

The organizational structure of Lakeside Health Center is based on a hierarchical model, reflecting the clear lines of authority and communication. At the top is the Executive Director, followed by department heads such as the Director of Nursing, Rehab Director, and HR Manager. Departments are clearly delineated, promoting efficient management and coordination among the various roles including nurses, therapy specialists, administrative staff, and technicians. This structure aims to enhance accountability while supporting Lakeside's mission of providing efficient, quality care.

II. Compensation Objectives

Lakeside Health Center's compensation strategy centers around a few key objectives:
1. Market Competitiveness: To ensure that Lakeside attracts and retains skilled professionals, compensation must align with market standards in healthcare reimbursement.
2. Internal Equity: Pay structures should reflect the relative value of jobs within the organization, thus minimizing discrepancies and building a culture of fairness among employees.
3. Performance-Based Rewards: Implementing compensation that correlates with performance will encourage higher output and accountability.
4. Retention and Satisfaction: By addressing turnover issues, compensation and benefits need to foster job satisfaction, thereby improving the quality of care provided to patients.
Achieving these objectives will help Lakeside become an employer of choice and achieve operational excellence.

III. Job Analysis Guidelines

To design an effective compensation plan, a comprehensive job analysis cycle should be initiated. Key steps include:
1. Data Collection: Utilize qualitative and quantitative methods to gather job-related information through interviews, surveys, and direct observation.
2. Identify Job Responsibilities: Clarify the essential functions and tasks associated with each role, including clinical, administrative, and support services.
3. Establish Job Competencies: Determine the skills, knowledge, and abilities required for each position, which would inform the development of job descriptions.
This thorough analysis will provide a foundation for equitable pay scales.

IV. Job Description

Effective job descriptions provide clarity on roles and expectations. Each position will include the following:
1. Title: Clearly states the role (e.g., RN, Rehab Therapist).
2. Departments: Indicates where the role fits within the organization (e.g., nursing, rehabilitation).
3. Reporting Relationships: Specifies who the position reports to.
4. Key Responsibilities: Outlines tasks and expectations for job performance.
5. Qualifications: Lists required education, certifications, experience, and skills.
For example, a job description for an RN might detail patient care duties and collaboration with healthcare teams, along with licensure requirements and preferred specialties (Hewitt, 2020).

V. Job Ranking

To establish internal equity, Lakeside will implement a job ranking system based on:
1. Job Complexity: Degree of difficulty and skill required.
2. Responsibility Level: The impact of decisions made by the role.
3. Working Conditions: Physical and emotional demands associated with each job.
Ranking positions from highest to lowest will guide pay scales and help address potential disparities (Milkovich & Newman, 2021). It’s essential that this ranking is updated regularly to reflect changes in job roles and healthcare needs.

VI. Performance Appraisal

To ensure that performance informs compensation decisions, Lakeside Health Center will establish a structured performance appraisal process:
1. Continuous Feedback: Encourage regular check-ins and feedback throughout the year.
2. Formal Evaluations: Perform semi-annual and annual performance reviews against predetermined performance metrics and goals.
3. Alignment with Compensation: Use performance results to determine merit increases and bonuses, incentivizing high performance.
This focus on performance will not only motivate employees but will also align workforce efforts to organizational goals (Aguinis, 2019).

VII. Pay Scale (Pay Plan)

Lakeside's pay scale will be structured around competitive benchmarks that reflect the local labor market. Key components include:
1. Base Salary: Establishing base pay that meets or exceeds the market median for similar roles in the healthcare sector.
2. Pay Banding: Grouping jobs into pay bands that reflect their relative value and complexity (Henderson, 2022).
3. Performance-based Increases: Implementing a merit increase system that rewards high performers with annual raises.
4. Cost-of-Living Adjustments (COLA): Regular reviews of economic factors to adjust salaries accordingly.
This pay plan ensures fair remuneration while attracting top talent motivated by competitive wages.

VIII. Benefit Plan

Benefits play a critical role in employee satisfaction. Lakeside will develop a comprehensive benefits plan that includes:
1. Health Insurance: Providing competitive health plans, covering medical, dental, and vision.
2. Retirement Plans: Offering 401(k) or pension plans with employer matching contributions to aid future planning.
3. Paid Time Off (PTO): A flexible PTO policy encouraging work-life balance.
4. Professional Development: Funding and support for continuing education and certification programs relevant to employees' roles.
5. Employee Assistance Programs (EAP): Addressing personal issues impacting work performance and emotional well-being.

IX. General Policy Guidelines

Lakeside Health Center's compensation policies will guide organizational practices, ensuring adherence to legal and ethical standards. General policies include:
1. Transparency in Compensation: Fostering open dialogue and understanding about pay structures.
2. Compliance with Regulations: Adhering to Fair Labor Standards Act (FLSA) and Equal Employment Opportunity (EEO) guidelines.
3. Regular Reviews: Committing to periodic reviews of the compensation plan to ensure competitiveness and compliance.
In summary, Lakeside's Compensation Plan is designed to address current staffing challenges while establishing a fair, motivating environment for employees. By aligning compensation with performance and market demands, Lakeside Health Center aims to achieve stability and satisfaction among its workforce.
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References

1. Aguinis, H. (2019). Performance Management for Dummies. Wiley.
2. Henderson, R. I. (2022). Compensation Management in a Knowledge-Based World. Pearson.
3. Hewitt, B. (2020). The Healthcare Manager’s Guide to Continuous Quality Improvement. CRC Press.
4. Milkovich, G. T., & Newman, J. M. (2021). Compensation. McGraw-Hill Education.
5. Dessler, G. (2018). Human Resource Management. Pearson.
6. World Health Organization (WHO). (2022). Global Health Workforce Statistics. Retrieved from [WHO website](https://www.who.int/gho/hrh/statistics/en/).
7. U.S. Department of Labor. (2023). Bureau of Labor Statistics: Occupational Outlook Handbook.
8. American Hospital Association. (2023). Compensation and Benefits Analysis for Health Systems.
9. Becton, J. D., & Jones, K. P. (2019). Understanding Job Analysis: Principles and Procedures. Journal of Human Resources Management.
10. Society for Human Resource Management. (2023). Employee Benefits: A Primer.
This outline provides a comprehensive framework for Lakeside Health Center’s compensation plan, integrating best practices and addressing existing staffing challenges effectively.