HR Pulse - Summer 2008 - (Page 52)

>> EMPLOYER-ASSISTED HOUSING of the hospital’s ﬁnancial commitment and further promoting affordability well into the future. An obvious trade-off is that employee equity and appreciation are limited. However, this approach does allow the employee an opportunity to “get a foot in the stirrup” toward realizing the American dream of home ownership. Also realize the beneﬁts of added family stability and work readiness. EAH’s Future EAH for hospitals is in its infancy, but it is a tool that clearly shows promise. While some funding has been made available, little information exists on the so-called value proposition for EAH. What bottom-line impact has there been on turnover as a result of implementing EAH programs? Recruitment? Workforce stability? Until these questions can be answered more deﬁnitively, it is unlikely that EAH will receive widespread acceptance by hospitals. The authors of this article are presently engaged in an effort to determine this value proposition by developing a case study for Aurora Health Care in Milwaukee, Wis., which has offered an EAH subsidy program since the late 1990s. Data are being gathered comparing the demographics and turnover rate of EAH participants to other comparable staff. We expect to be able to draw conclusions and An obvious trade-off is that employee equity and appreciation are limited. However, this approach does allow the employee an opportunity to “get a foot in the stirrup” toward realizing the American dream of home ownership. EAH must be taken to scale. At the same time, measures also must be put into place to control hospital ﬁnancial obligations. One such measure is shared equity—i.e., the sponsor hospital participates with the home owner in equity. Shared equity programs can take several forms—subsidy recapture, shared appreciation loans, and subsidy retention. Of these, subsidy retention offers the most controls for the sponsor hospital. Under this approach, a subsidy is offered for home purchase, but it permanently remains with the dwelling. In addition, appreciation increases according to a predetermined index, such as the consumer price index (CPI) or area median income (AMI). With these controls, the owner cannot gain windfall proﬁts at resale, thus enabling continued affordability over time. Likewise, the initial subsidy is a one-time event. It remains with the home in perpetuity, thus minimizing escalation 52 HR Pulse Summer 2008 Your compensation consultant should be focused on one goal: YOURS. Executive and physician compensation becomes more and more complex every day. That’s why board members, compensation committees, and executives look to SullivanCotter—for help creating total pay packages that support your business objectives and mission while meeting regulatory requirements. Because we offer no ancillary products or services, you always know that our recommendations are based on what’s right for your organization. Now more than ever, you need a trustworthy leader to help you navigate this ever-changing environment. Talk to SullivanCotter today. I N T E G R I T Y. I N D E P E N D E N C E . I N S I G H T. www.sullivancotter.com | 888.739.7039 300865_Sullivan.indd 1 9/22/06 8:22:19 AM

Table of Contents Feed for the Digital Edition of HR Pulse - Summer 2008

HR Pulse - Summer 2008 Contents Pulse Points Executive Director's Letter President's Message HR Leader Profile: Carol Bank, SPHR Special Report: Building a Thriving Workforce Creating A Best Place to Work Employee Morale Don't Set Up Your Managers to Fail From Tedious Task to Strategic Process Employer-Assisted Housing Changing the Paradigm of Nurse Recruitment Workforce Recognition: Simple Gestures Go a Long way Advertisers' Index

HR Pulse - Summer 2008

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