WEBCASTS
Incentive: Something, such as the fear of punishment or the expectation of reward that includes action or motivates effort.
~American Heritage Dictionary
Path to Successful Incentive Programs
~Willingness to evaluate ~Place incentives where they are needed
~Courage to change ~Monitor performance and adjust approach
~Reward behaviors you want to encourage ~Communicate findings and changes to staff
~Design rewards based on staff interests ~Know you are not alone
BidShift’s Incentive Approaches
| Fixed Rates |
Premium Wage and Base Wage + Bonus |
60% above employee’s base pay, $50 total shift |
|
Variable Rate |
Incentive reverse bidding and percentage reverse bidding |
Start bidding at $10/h |
|
ShiftRewards |
Point based system, tangible incentive, cost effective alternative to $$$ incentives, survey staff to identify rewards |
Cafeteria meal, gas card, apple iphone, professional certification fee |
The following are case studies of current clients using an incentive program that has resulted in successful staffing effectiveness
Hospital |
Location |
Launch Date |
Approach |
Impact |
|
Medical Center of Central Georgia |
Macon, Georgia |
08/06 |
Moved from double time pay to fixed rate shift bonus with multiple tiers, centrally managed incentive placement, developed a mentoring program for creating balanced scheduled, targeted to hard to fill shifts |
40% decrease in agency spending in 2007, decreased incentive spend by 2x stated goal, 76% open shifts filled (average/mo), created a collaborative process for managing incentives |
|
The Christ Hospital |
Cincinnati, OH |
11/05 |
Analyzed agency cost/incentive pay, reviewed percent of income paid as incentives, required a design that fit within their payroll system, reward experienced staff, pioneered variable percentage bidding |
Standardized incentive approach, reward experience and commitment, retention and recruitment, $2.2 million savings in agency cost |
|
Castle Medical Center |
Kailua, Hawaii |
09/06 |
Shifted from $ negotiations to points-based incentive program, apply incentives to drive desired behavior, place incentives on hard-to-fill shifts |
82,807 patient care hours filled, 70%-75% of open shifts filled, $9,310 incentive liability (11 cents/hour)76% decreased use of agency, eliminated all travelers |
