Archived Publications Ebook: Using Goal Setting and Performance Manageme | Page 19

GET YOUR (AND THEIR) MONEY’S WORTH
With total rewards communication, employees will see
everything the organization is investing into them and their
career—and it will help the organization get credit for
everything it provides. Instead of the paycheck serving as
a reminder of what’s being taken away from the employee,
the paycheck, total rewards portal, and pay messages
become a constant reminder of all the great benefits
afforded to them.
Of all the programs aiming to drive engagement, retention,
and commitment from employees, total rewards is a
relatively lower cost, simple, and straightforward activity. It
also leverages data that already exists within various systems.
It’s time to show healthcare workers the full value of their
employment; the full set of benefits and subsidies that help
support them as employees and as people outside the
workplace. PayScale says the average nurse salary in United
States is around $59,000 as of March 2017. We know that,
on average, this salary comprises 69% of an employee’s
total compensation. So the average total compensation of
a nurse might be around $85,500. The next time a nurse
contemplates departing the organization, we want her to
know and understand the full dollar value of what she’s
walking away from—the $85,500. Being informed may
change her mind and ultimately change her decision to “stay”
instead of walk away.
Which “Salary” Is More Attractive?
$100,000
$85,500
$80,000
$60,000
$59,000
$40,000
Average
Nurse
Salary
Average
Nurse
Total
Compensation
$20,000
$0
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