HR Pulse - Fall 2008 - (Page 44)

>> RETAINING SCARCE, CRITICAL TALENT retention tool, even though they have customized programs to reﬂ ect the professional focus of their scarce/critical talent. Benefits Only two study participants use retirement and liberal beneﬁts to retain scarce/critical talent. Health insurance is a philosophical cornerstone and necessary for recruitment and retention. Child care and elder care are considered differential advantages. Conclusions These premier medical centers believe that people, not jobs, make a difference because jobs do not end up at competitors. They are focused on retaining scarce/critical talent and are proactively developing and implementing integrated retention, pay and rewards strategies, programs and actions to retain this talent. They capitalize on any differential advantages they have compared to other health care organizations, train and hold managers accountable for successfully implementing these programs, and have improved communications with scarce/ critical talent. These organizations address retention, pay, and rewards of critical/scarce talent as a business necessity to continue to achieve the organization’s mission and to reduce the cost of losing scarce/critical talent. They use a two-fold approach—both career and ﬁnancial opportunities—to retain scarce/critical talent for their life of employment. They are aggressively acting sooner rather than later. What is your organization doing now to retain these people? Reference U.S. News and World Report. August 2007. America’s Best Hospitals (accessed March 26, 2008). Available at: http://health.usnews.com/sections/ health/best-hospitals. Patricia K. Zingheim, Ph.D. and Jay R. Schuster, Ph.D. are partners in Schuster-Zingheim and Associates, Inc., a compensation and total rewards consulting firm founded in 1985 in Los Angeles. They design performance-based pay and rewards solutions to enhance performance. They advise organizations on incentives/variable pay, base pay management, performance management, total rewards strategies, executive compensation, and recognition. Their website is www.paypeopleright.com. 44 HR Pulse Fall 2008 Find Your Perfect Match Today! Recruiting high-quality healthcare executives is more competitive than ever before. At ACHE our members are leaders who are committed to professional development and equipped with the latest healthcare knowledge. Visit ACHE’s online resume bank to find your perfect match among the membership of healthcare’s leading professional society, all for free! There is no charge to post jobs or to search our database of more than 4,000 resumes. And now with our new job alert feature, potential candidates can be alerted to your job postings right away. Find the highly skilled, healthcare leaders you’re looking for today! Visit the career services area at ache.org to find your perfect match. 360873_AmericanColl.indd 1 12/13/07 9:05:09 PM http://health.usnews.com/sections/health/best-hospitals http://health.usnews.com/sections/health/best-hospitals http://www.paypeopleright.com http://www.ache.org

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

HR Pulse - Fall 2008 Contents Pulse Points Executive Director’s Letter President’s Message HR Leader Profile: Irma Pye Sammy’s House: Making a Difference in Austin Working Mother Magazine’s 100 Best Companies Increasing CEO Engagement Pastoral Care Retaining Scarce, Critical Talent The Engagement Dilemma Diversity Considerations…More than AAP & EEO Quashing the Workplace Bullying Bug How to Become a Strong Human Resources Partner Citizen Lobbyists Descend Upon Capitol Hill Conference Highlights Schedule at a Glance Sponsors Exhibitors Advertisers’ Index

HR Pulse - Fall 2008

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