Healthcare Compensation Consulting & Plan Design
As expert compensation consultants in the healthcare industry, NFP Compensation Consulting (formerly Longnecker & Associates) understands this sector is under tremendous pressure and has been facing increased challenges as the effects of the COVID-19 pandemic continue to unfold. The risks imposed on healthcare workers caring for infected patients coupled with a significant reduction in non-essential medical services has resulted in overwhelming strain on staff and leadership teams in the industry.
Now more than ever, management teams and boards must be in strategic alignment to achieve organizational goals. This workforce in particular deserves special recognition given the difficulties they have faced. Attraction and retention of key talent is imperative, therefore compensation in medical and healthcare organizations should be carefully and strategically planned in these uncertain times.
2020 brought disruption to the executive compensation landscape as we saw reductions in base salaries take effect and changes made to annual and long-term incentives. Although the dust is starting to settle, the challenges in executive pay and key employee retention remain.
NFPCC has worked with a myriad of organizations within the medical and healthcare industry such as health insurance companies, hospital systems, and biotech companies among many others. Our consultants are here to assist clients with a strategic approach to compensation necessary to thrive in today’s volatile environment.
Diverse Service Suite For Healthcare Organizations
- Compensation Philosophy Development
- Peer Group Development
- Executive Compensation Analysis
- Annual and Long-Term Incentive Plan Design
- Board of Director Compensation Analysis and Structure
- All Employee Compensation Analysis and Salary Grade Development
- Severance Benefit Design
- Employment Agreement Design
- Compensation Risk Assessment
- Change in Control and Employment Agreement Plans
- Merger and Acquisition HR Integration
- Investor Relations, Shareholder Engagement Strategy
- Succession Planning Design
- Retirement Compensation Design
- Compensation Discussion & Analysis Drafting and Review
Partner with NFPCC to guide you through the changing environment in the healthcare industry. We’ll help you stay in front of the market with the latest compensation trends and a customized plan designed to achieve organizational goals and maximize performance. Contact us to get started.