Total compensation statements are a great tool to drive employee engagement and retention - the problem is that traditional printed annual statements are not only outdated from the time they are printed but are expensive and time consuming to produce for busy HR teams in healthcare facilities with limited resources. HRIS expert Christopher Ford will share how healthcare HR departments can transform an outdated compensation statement process into a value-driven total rewards system that generates measurable improvement in engagement at a lower cost.

1. Taking Your
Hospital From Total
Compensation
Statements To A
Total Rewards
System
Guest Presenter: Christopher Ford
Senior Director of HR Operations
Riverbed Technology
Webinar & Podcast Series

2. AGENDAThe Series
HealthcareSoftwareHub
webinar & podcast series
Healthcare Software Series

3. AGENDAWebinar Info
✓ We are informal (and fun)
✓ Ask Questions!
✓ Q&A Session at end
✓ HRCI Credit
✓ Slides will be available after
Healthcare Software Series

4. AGENDAAGENDA
Talent Management for Healthcare
✓ Recruiting
✓ Compensation & Total Rewards
✓ HR Service Delivery
The Sponsor
Thank You to our Webinar Sponsor!
Healthcare Software Series
HealthStream.com

5. AGENDAThe Presenter
Christopher Ford is an accomplished
international Information Systems Professional
and Business Leader who has over 20 years of
successful technology implementation and
leadership experience in Silicon Valley. He has
created value by identifying and implementing
various global technologies supporting
company objectives across multiple industries
including Financial Services, Semi-Conductor,
Networking, and Telecommunications. He’s
noted as a top leader who has the unique
ability to influence C-Suite Executives to
support global technology initiatives that drive
value for the company. He has significant
global technology and process implementation
experience throughout the US, Europe, Middle
East and Asia.
Christopher Ford
Senior Director, HR Ops
Riverbed Technology
Healthcare Software Series

6. AGENDAThe Agenda
 Defining Total Compensation
& Total Rewards for your Hospital
 Total Rewards: Making The Case
 Total Rewards Statements
 Total Rewards Systems
 Healthcare Rewards Mobility
 Cost Considerations
 Healthcare Case Study
From Total Compensation Statements
To A Total Rewards System
Healthcare Software Series

7. AGENDADefining Total Compensation & Total Rewards
Total Compensation
Total Rewards
Base Pay Bonus Equity
Medical Dental Vision
Retirement Plans ESPP / ESOP Insurance, Disability, Long
Term and Short Term Care
Commuter Benefits Wellness / EAP Café / Meal Discounts
Deferred Compensation Employee Discounts Vacation (PTO)
Sick / Leave Policies Onsite Services (Laundry,
Automobile, Massage, Day
Care, etc.)
Travel & Expense Policies
Employee Gift Programs
Comp
Base Pay Bonus Equity
Additional Benefits
Medical Dental Vision
Healthcare Software Series

8. AGENDADefining Total Compensation & Total Rewards
Total Rewards Tip
Replace your offer letters
with an Employee Value
Proposition
Creates differentiation for
your hospital allowing you
to attract the top medical
talent
Healthcare Software Series

9. AGENDAPoll #1
Healthcare Software Series
What is your Total Rewards Approach today?

10. AGENDATotal Rewards: Making the Case
Total Rewards is a
comprehensive valuation of
all employee compensation,
benefits and perks.
Highlight perks that promote
what’s unique about your
hospital’s value proposition:
Schedule Flexibility, Workforce
Mobility, Excellent Medical!
Base Pay
Bonus
Equity
Medical
Retirement
Medical Benefits
$$$$$$
$$$
$$
$$
$$$
$$$
$$$ TOTAL REWARDS $$$
Healthcare Software Series

11. AGENDATotal Rewards: Making the Case
✓ Communicates a broader value
proposition
✓ Creates greater appreciation from
employees and their families
✓ Contributes to a hospital employer of
choice differentiator
✓ The secret sauce for attracting and
retaining top talent in the medical
field
Healthcare Software Series

12. AGENDAHospital Total Rewards Statement
Benefits
• Increases Employee Engagement
• Decreases Voluntary Turnover
• Increases Retention
• Engages the Employees’ Family
Drawbacks
• Annual Massive “All HR” Project
• Takes months to prepare
• Incredibly Expensive > $100K
• Out-dated before it’s delivered
• Doesn’t support mobile workforce
Annual statement presented to employees providing a comprehensive
valuation of their compensation, benefits and perks.
Healthcare Software Series

13. AGENDAHospital Total Rewards System
Benefits
• Increases Employee Engagement
• Decreases Voluntary Turnover
• Increases Retention
• Engages the Employees’ Family
Additional Benefits
• One-Time All HR Project
• Significantly Less Expensive
• Updated Regularly (Mobile
enabled)
• Greater Functionality (WAVE)
• Access to Powerful Analytics
• Low Cost Continuous Innovation
Annual statement presented to employees providing a comprehensive
valuation of their compensation, benefits and perks.
Healthcare Software Series

14. AGENDAHospital Total Rewards System
Every hospital’s cost for a Total Reward Statement or
System is different based on several factors:
Hospital Size Regional vs. National Staff Differentiation
Content Features Branding
Audience Differentiation Team / Resources Vendor(s)
Healthcare Software Series

15. AGENDAHospital Total Rewards System
Sample Cost Comparison
Healthcare Software Series

16. AGENDAPoll #2
Healthcare Software Series
How frequently do you update
Total Rewards information?

17. AGENDAHospital Total Rewards System Tips
What are the considerations for an effective hospital Total
Reward System?
Healthcare Software Series

18. AGENDAHospital Total Rewards Case Study
THE CHALLENGE
Hospital already using Total Rewards Statements
 Large Annual Project
 HR Project Team Hated the project!
 Medical Staff didn’t provide + or - feedback
 Felt Like An Expensive waste of time
THE SOLUTION
Hospital already working on a Merit Compensation System
✓ Shared the Hospital Total Rewards System Solution
✓ Quickly implemented for less than the Total Rewards Statement
✓ Well received by multiple hospital stakeholders (Administrators, Doctors, Nurses &
Support Staff)
✓ Eventually expanded the use of the hospital Total Rewards System for “Stay
Conversations” with RNs
✓ Currently being considered for value proposition recruiting of key medical
positions
Healthcare Software Series

19. AGENDAThe Clear Choice
1. Total Rewards presents a better value proposition than Total Compensation
2. Total Rewards Systems offer hospitals significantly more advantages than Total Rewards
Statements
 Approximately 30% Lower Cost Over Time
 One-Time All HR Project vs. Annually
 Updated Regularly
 Greater Functionality (WAVE)
 Access to Powerful Analytics
 Low Cost Continuous Innovation
 Hospital employer of choice differentiation
 Key medical staff recruiting value propositions
3. Choosing To Implement A Hospital Total Rewards System is the
Clear Choice for the Future
Healthcare Software Series

20. AGENDAQuick Takeaways
Things to consider when considering a Total Rewards System
1. Be purposeful with your intent. What opportunity are you looking to achieve?
 Hospital Branding, Lower Cost, Better Service, Improved Retention, etc.
 Tie it to hospital objectives (Attract & Retain Top Medical Staff, Culture / Branding
Initiatives)
2. Keep it simple! Start Small / Less Complex and expand from there
 Implement Key Medical Staff First
➢ Consider where your most impactful employee populations are
➢ Consider what impact and/or outcome you want to achieve with that population
 Choose to monetize features that differentiate the hospital and your value proposition
➢ Pay, Bonuses, Equity, Retirement, All Benefits with Employer Contribution, Employee
Gifts, Commuter Benefits, Meal Programs, Discount Programs
 Choose a manageable update frequency (real-time, weekly, monthly, quarterly)
 Use Good Change Management. Make it a big deal
 Consider easy access by employees and/or their family (mobile device enabled)
Healthcare Software Series

21. AGENDA
Quick Takeaways
Things to consider when considering a Total Rewards System
3. Build the right team
 Compensation (Total Rewards), HRIS, Benefits, HR Business Partners, Payroll, Marketing,
IT, Vendor
 Have an Executive Sponsor (Head of HR)
 Have a Project Manager
 Involvement / Endorsement from the CEO and Executive Staff
Healthcare Software Series

22. AGENDAQuick Takeaways
Things to consider when considering a hospital Total Rewards System
4. Systems Architecture is a key consideration
 Work with your vendor, HRIS and IT on the best overall architectural design. There are
many options
 Two common approaches are:
➢ Data Warehouse Approach
➢ Point to Point Approach
Healthcare Software Series

23. AGENDAQ & A
Live Q&A
Healthcare Software Series

24. AGENDAAGENDA
Resources & Support
✓ Resource Library
✓ Vendor & Product Info
✓ Upcoming Events
Healthcare Software Series