Question

Evaluate and discuss how healthcare organizations can leverage ‘total’ compensation packages to be more competitive in recruiting and retaining healthcare professionals and staff and to ensure productive overall performance (output). Use examples and data to support your evaluation and discussion.

Answer 1

a I for making total compensation packages to be more competitive in recruiting and retaining healthcare and staff and to ensure professionals productive overall performance first we have to • Understand Nurses Needs • know your labor Market To know the value of skills and Certifications The total includes the base salary benefits and pow perquisites or perks. Regardless of your specific offer be aware of all the benefits and perks a company offers. The Affordable ore Act requires all businesses with more than 50 full-time equivalent employees to prove full time employees health insurance or pay a monthly Employer shared Responsibility Payement on their federal tax return- H 401(k) plan may provide free money. Most employers match between socents and a dollar for every dollar employees contribute for up to 3 to 6 % of their salary An easy to use 401 (K) calculator helps you see the bigger picture Place the prospective employer match for evezy

dollar you contribute and the highest percentage the employed contributes and look at the total the calcolator shows you'll have in your 401(16) account after you retire. For example with an employed matching 100 percent of temployees contribution up to 6 % of employees anual contribution using an annual employee contribution of 10% , with an annual salary of $40,000, with no salary increase factored into the salary starting with a 401(k) of $2000 with a 6% annual rate of return & employee works for 42 yos the total is $1, 185, 462. Il an employer only proveds a son match & only up to 3% of employees annual contribution the total significantly declines to $858,550 a huge decrease to a $326,912. his amount of money can make a big difference in your standard of living upon retirement