Compensation strategy motivates executives to achieve goals
- PMID: 10293218
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Compensation strategy motivates executives to achieve goals
Healthc Financ Manage.
1989 Jul.
Abstract
A compensation strategy helps healthcare organizations motivate key executives to achieve business goals. Such a strategy has five elements: base salary, annual incentive plans, long-term incentive plans, perquisites, and benefits. In designing a compensation package, an organization should consider the managerial model of its executives plus the institution's culture and its position in the business life cycle.
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