Are your wages keeping pace with inflation? – Whitepaper
Runaway inflation caught everyone by surprise, and while inflation has come down, it could quickly become a problem again.
Price Jobs in Healthcare with Healthcare Compensation Data
From primary care practitioners to back-office administration, those working in the healthcare industry cover a wide range of needed functions. Employers include medical and dental offices, hospitals and labs, specialized outpatient centers, and home health care services. Payscale provides salary data for all kinds of roles common to organizations of every type in the healthcare industry.
Common Healthcare Compensation Management Challenges
Hiring to support rapid growth
In the recovering post-pandemic economy, the healthcare industry is primed for growth. Compelling salary offers and total rewards packages are essential to attract talent in a competitive job market.
Planning for pay increases
In a hot job market, you have to think about pay equity. The talent you are most anxious to keep is also the talent you are most likely to lose if your employees' pay doesn't keep pace with their peers.
Managing pay compression
In a job market as hot as healthcare, there is risk of losing valuable employees due to new hires making higher salaries compared to tenured employees, making pay compression a hot topic during a pandemic.
Facilitating pay communications
With all the challenges in the current job market, it is imperative for employees to understand pay policies and for managers to be able to discuss why compensation is fair.
Stop waiting on surveys
Payscale gives you access to current salary data that you can cut any way you like it — even by competitors! — so you can make pay decisions right now.
Learn more about our dataSalary data in the healthcare industry available from Payscale right now
953,000
Incumbents - Peer
222
Participants - Peer
26%
Participant growth (2021) - Peer
23%
Incumbent growth (2021) - Peer
444,648
Profiles - Employee Reported
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Payfactors is the vendor that has the most accurate data and has given us much more confidence in where we stand in the market. Using Peer by Payfactors is the first time our leadership team hasn’t questioned the data Compensation and HR has presented. I’d recommend Payfactors to anyone in the hospitality industry in a heartbeat. We go to a HR conference each year and most of the other companies we meet with also recommended this as their go to platform.
by
Amy Gundaker, Human Resources Specialist, Island Hospitality Management
Peer is intuitive, easier, and more enjoyable to use than annual surveys, plus there is relevant, real-time data and no need to wait months and months. With the market changes of late, having data that changes with the agility of Peer is required. Peer’s real-time data is the only way to be credible with my leadership team. You simply cannot use quarterly or yearly data in times like these where markets are being directly influenced by the social and economic impacts of 2020 – Peer is the way to go now and in the future.
by
Reet Ari, Senior Director, Talent Acquisition, Privia Health
We moved from keeping everything on spreadsheets to have one data repository, that allows us to analyze the data. The data is easy to upload and once on the tool is easy to update and customize. The availability to download pretty much any kind of report is amazing for reviews. Start using the tool immediately – easy to use with in-depth features.
by
Pedro Mendoza, Senior Compensation Analyst , Long Beach Memorial Medical Center
“Payfactors’ data is real time and easy to understand. We hadn’t even leveraged the full product and I was seeing results returned that were very true to other competitors. We were able to leverage our IT compensation data to attract and retain top talent.”
by
Angela Barnes, MHRM, SR Benefit Analyst, Kalispell Regional Healthcare
We have many salary surveys that we participate in, and as a healthcare organization competing in a very competitive market, we need to be able to consolidate our 20+ surveys into one space where we can easily pull data from and have easy access at any given moment. I love that I have the ability to consolidate our many salary surveys into one single platform. [Payfactors] saves so much time and energy when we are consulting with our clients on market data for new/revised/existing jobs. I love this software!
by
Joseph P., Senior Compensation Analyst , Virginia Mason Medical Center
“MarketPay makes it incredibly easy to participate in surveys, match jobs, and rollover your salary data from one year to the next. Whenever we have questions or need assistance with migrating our data, our service reps at Payscale have been really responsive to our needs. We couldn’t ask more from a partner.”
by
Carolin Spencer, Senior Compensation Analyst, Intermountain Healthcare
Customer Stories
Learn how organizations like yours consolidated salary data onto one trusted platform and modernized their compensation management practices with Payscale.
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Track annual and quarterly wage growth
The Payscale Index is publicly available data that tracks and compares wage growth by city, industry, company size, and job category. The Payscale Index draws from Payscale's Employee Reported data which includes a salary data cut specific to the finance and insurance industry.
Explore research and insights in the healthcare industry
Greatest growth in job postings and wages – Whitepaper
Discover which employees have the most leverage in finding new, better paying positions and what you can do about it.
What jobs are most at risk for turnover? – Whitepaper
We unveil the jobs with the highest quit rates in 2024, and examine industries where turnover is causing the most problems
Getting started with job management – Whitepaper
In this guide, we provide data and best practices on managing pay differentials for education plus insights into the shift to skills-based talent management in the age of pay transparency.
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Healthcare organizations of all kinds have already turned the corner on compensation. Let’s meet to discuss how Payscale can help your teams reinvent inefficient processes simply and cost-effectively.
