As the economy begins to regain its footing, pay increase budgets increased slightly for healthcare organizations. The newly released 2012 Compensation Data Healthcare survey results show that pay increase budgets rose to 2.5 percent, up from 2.4 percent in 2011. Healthcare organizations predict no change in 2013.
“There appears to be a level of cautious optimism within the industry in regard to the economy,” said Amy Kaminski, director of marketing for Compdata Surveys, the nation’s leading pay and benefit survey data provider. “Employers are taking a conservative approach, and we’ll likely see these gradual increases continue over the next few years.”
Pay increase budgets vary by industry, as critical access hospitals reported the highest pay increase budgets at 2.8 percent with no change predicted for 2012. Physician clinics reported a 2.5 percent pay increase budget while hospitals and home care facilities reported 2.4 percent. Behavior healthcare facilities had the lowest pay increase budget at 2.3 percent, but this was the most significant increase across all industries. In 2011 behavioral health reported a 1.6 percent pay increase budget.
According to the results, pay increase budgets vary by state as well. Across the country, pay increase budgets range from 2.1 percent to 3.3 percent. Some states expect a boost next year while others project to stay the same. State projections ranging from 2.1 percent to 3.1 percent
About the Survey
Compensation Data 2012 Healthcare contains data on 225 industry specific job titles and 400 benchmark job titles ranging from entry-level to top executives. Data was collected from nearly 8,200 healthcare providers reporting on 5.1 million incumbents. Companies in other industries provided data on 400 benchmark titles for more than 27,000 locations across the country. The results provide a comprehensive summary of pay data, benefit information and pay practices with an effective date of January 1, 2012.
Compdata Surveys is the nation’s leading compensation and benefits survey data provider. Thousands of U.S. organizations provide data each year ensuring the reliability of our results. Compdata Surveys has been providing comprehensive data at affordable prices to organizations from coast to coast since 1988. For further information about the compensation and benefits surveys, contact Michelle Willis at (800) 300-9570.