4 Factors Influencing Hospital CEO Compensation Article Featuring Eric Dickerson, Healthcare Recruiter and Managing Partner at Kaye/Bassman International

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4 Factors Influencing Hospital CEO Compensation Article Featuring Eric Dickerson, Healthcare Recruiter and Managing Partner at Kaye/Bassman International

Dallas, Texas, 5/16/2011: As provisions of the healthcare reform law are implemented and the economy stabilizes, certain skill sets or experiences are coming to the forefront in executive searches and influencing compensation for hospital CEOs. Eric Dickerson, partner with Dallas-based Kaye/Bassman International, shares insight on four factors currently influencing CEO compensation.

1. Experience with unions. There is a need for hospital executives to have strong backgrounds or levels of experience in working with unions in certain regions — particularly the upper Midwest and Eastern region where unions are prevalent. Either pre- or post-unionization relations with employees and unions are valuable when determining compensation. For instance, some executives can refer to past work with employees prior to unionization. CEOs who satisfied employee needs so they did not feel as a strong of a need to unionize may be attractive to hospitals that fear unionization is likely in the near future. Other leaders may work well with unions, and were able to negotiate and avoid major conflicts in their past tenures. Both of these skill sets may act as leverage when it comes to salary negotiations, according to Mr. Dickerson.

2. Growing emphasis on financial backgrounds. While they have always been vital to the CEO role, financial skills are now emphasized more than they have been in the past. "CEOs have to talk the language with the CFO," says Mr. Dickerson. In a 2010 poll conducted by the American College of Healthcare Executives, 77 percent of hospital CEOs cited financial challenges as their number one concern — an increase from 67 percent in 2005. As the economy recovers and stabilizes, many hospitals are also facing financial turnarounds, making business backgrounds absolutely critical. "Turnarounds require a specific skill set. These leaders [with business backgrounds may] have a record of doing it in the past. Maybe it was at a smaller hospital, and now they are taking their career to the next level to turn a larger facility around," says Mr. Dickerson.

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About Kaye/Bassman
Founded in 1981, Kaye/Bassman has grown to become the largest single-site executive search and recruitment firm in the United States with the simple mission of impacting companies and enhancing careers by providing the finest in professional, executive, technical and scientific search. Kaye/Bassman provides strategic recruiting and executive search solutions in over 20 industry practice areas including construction recruiting, healthcare recruiting, banking executive search, energy recruitment and many more.  Next Level Recruiting Training, a recruiting training organization, Next Level Exchange, a recruiting training best practices information exchange, and Next Level Marketing Communications are also Kaye/Bassman companies.

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Darren McDougal
Kaye/Bassman International
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Source: http://www.beckershospitalreview.com/compensation-issues/4-factors-influencing-hospital-ceo-compensation.html