Becker's Hospital Review

35 CEO / STRATEGY Executives are getting big bonuses to stay By Georgina Gonzalez B ig corporations are doling out big bonuses and compensation packages to keep high-performing executives, e Wall Street Journal reported May 17. Proxy filings show that big companies in the United States are delivering supplemental compensation awards to senior leadership, including the C-suite in the form of stock options, oen worth millions of dollars. By handing out bigger checks, companies are hoping to provide senior executives with the incentive to stay on and weather continued challenges of the pandemic, supply chain disruption and political unrest. "e level of anxiety and stress across the organization, surprisingly from the CEO to the manufacturing floor, has been unprec- edented," Bill Glenn, executive chairman of human resources firm Crenshaw Associates told the Journal. is follows the recent report revealing that CEO pay is the highest it's ever been, hitting another record for the sixth year in a row. Healthcare leaders are also featured in the top paid lists, with 10 CEOs of healthcare companies making the top 100 highest paid U.S. CEO list. While the paychecks increase, the public is becoming more frustrated. e issue of CEO pay is now a bipartisan issue, with both Democrats and Republicans agreeing that CEOs of America's largest companies are paid too much. n 4 healthcare leaders on how healthcare will change By Georgina Gonzalez F rom data analytics and wearables to a push for health equity, top healthcare leaders identi- fied key trends and growth avenues for health- care in Fortune May 13. Here is what four of them had to say about changes in healthcare and lessons they've learned regarding those trends: 1. Hilary Kerner, chief marketing officer of IBM AI and Watson Health: "COVID was really an acceler- ant for the adoption of analytics and how important data is." 2. Jessica Mega, cofounder and CMO of Verily: "I've been blown away by how empowered people have felt when the data is relevant to them." 3. Karen Lynch, CEO of CVS Health: CVS Health is looking to improve access to telemedicine as a way to treat those with mental health issues. "We're do- ing a number of things. We've put social workers in our Health HUBs so that people can have access face-to-face or through virtual care. We've con- tinued to have an extension of our contracts with tele-virtual mental health services." 4. Robert Ford, the chairman and CEO of Abbott Laboratories: "We've begun seeing this conver- gence of health tech and digital tech over the last 10 years, and it's been accelerated, definitely, during the pandemic and we believe this is the next frontier and we want to lead in it, and we think it has tremendous potential across all of our businesses to really challenge the paradigm of health care." n Older, experienced workers are joining the Great Resignation, raising alarm bells for organizations By Georgina Gonzalez T he latest group of workers to quit their jobs are older, tenured employees with decades of experience under their belts, reported Vox April 30. With this trend, organi- zations may feel the loss of their most knowledgeable employ- ees extra hard. While earlier in the pandemic, the droves of workers quitting tended to be younger, less experienced and working in the ser- vice industry, those joining the Great Resignation now are older and more tenured. The biggest jump in resignation rate came from employees 40-60 years old between 2021 and 2022. There was also a 71 percent increase in resignation rate for those with a 15-20 years tenure at a company and a 63 percent increase for those with more than 20 years at a company. These older workers who are quitting also tend to be part of knowledge sectors like finance and tech. These resignations may be driven by a desire for more meaning and flexibility in work, or that older workers may have more eco- nomic means to quit. "At the midpoint of life, we become aware of our own mortality, and it allows us to reflect on what really matters to us," said Adam Galinsky, PhD, a professor at Columbia Business School. The trend raises questions about how organizations will cope with losing their most experienced and knowledgeable staff and how they can hold onto them, especially if pay and benefits are less important to this group. n

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