Long-term care company executives achieved an average aggregate pay rise of 2.67% in 2021, although the top-ranked among them saw no increases for the year, according to a report. new report.
Top executives continued to receive substantial additional compensation in the form of bonuses, according to the 2021-2022 Multi-Location Corporate Compensation Report conducted annually by the Hospital and Healthcare Compensation Department. The new data showed that the average payday bonus percentage was 19.24% for 2021 – a drop of around 2.16 percentage points from the 21.58% reported in 2020.
“The good news is that while bonuses have gone down, they’re still double-digit bonuses, and the average bonus percentage is almost 20% of salary,” said Rosanne Zabka, HCS’s reporting manager. McKnight Long Term Care News Wednesday.
The report also found that the largest rate increases in 2021 were seen among nurses and carers. Salary increases reached 81.5% for chief certified assistants, and similar increases were reported for registered nurses, certified practical nurses, resident assistants, certified medication technicians and food service employees. , added Zabka.
Overall, the study examines executive compensation in higher-income nursing homes, large continuing care retirement communities, assisted living communities, and multi-site organizations. It also contains data from 91 multi-installation companies.
The full report is available for purchase on the HCS website.