COOPERSTOWN, N.Y. — Bassett Healthcare Network says it has invested nearly $50 million into pay increases for its workforce as part of a full compensation analysis for its caregivers and practitioners.
“Bassett Healthcare Network is incredibly pleased to complete this important compensation analysis, a massive collaborative effort in support of our thousands of employees across the region,” President and CEO Dr. Tommy Ibrahim said in a press statement. “I can never say it enough — our caregivers and practitioners are the heartbeat of our organization and our most vital asset. Investing in our people is an investment in our patients and communities. I, along with our network board of directors, am 100-percent committed to making Bassett a best place to work nationally because our employees deserve nothing less.”
Bassett worked with outside firms Gallagher and Sullivan Cotter for the analysis, which resulted in wage increases across the organization.
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Bassett partnered with Gallagher to engage in comprehensive position reviews for every caregiver across the organization, examining job descriptions, years of service, education, experience, and market data to put a new pay-grade structure in place and harmonize job titles. More than 1,200 caregiver positions were analyzed.
A parallel assessment conducted by Sullivan Cotter will boost pay structures for Bassett’s practitioners with a focus on improving incentivized compensation and rewarding quality.
“Our overall goal has been to make sure Bassett’s wages are in line with comparable job positions in our industry and region,” said Christine Pirri, senior VP and chief people and diversity officer. “Our human-resources professionals have been diligently evaluating thousands of positions over many months to make sure we are rewarding all employees based on the market and their unique experiences and talents. We’re also paying everyone retroactively to when the analysis project began in January 2022.”
This project comes after Bassett recently increased its minimum wage to $16 an hour. Other initiatives are being prioritized to boost retention and recruitment.
Bassett Healthcare Network includes five hospitals along with more than two dozen community-based health centers, over 20 school-based health centers, two skilled-nursing facilities, a durable medical equipment company, and a home-health agency. Bassett is affiliated with Columbia University College of Physicians and Surgeons.
