With a robust jobs market, many people are looking for new jobs. As a result, numerous companies struggle to keep employees happy. At one time, InnovaCare Health had a high employee turnover rate. Employee turnover costs companies money in multiple ways. Not only does it cost money to replace an employee, but the company loses productivity while a position is open.
InnovaCare Health is a value-based company in the healthcare industry. With all of the changes taking place in the medical field, companies must be aggressive in pursuing qualified employees. The leadership team at the company is one of the strongest in the industry. Many of the company’s leaders have won awards in recent years.
The leadership team at InnovaCare Health decided to make drastic changes to how employees get compensated. In the past, many employees at the company felt underpaid. Rick Shinto is the current CEO of the company. He has decades of experience working as a medical doctor. Through his experience, he understands the importance of hiring quality employees. He proposed increasing the salaries of all employees by five percent. He also decided to offer a performance bonus for all employees. If InnovaCare Health hits certain financial thresholds, the company will pay a substantial bonus to all employees. At many companies, only executives receive monetary compensation when the company hits financial goals.
With costs increasing in the healthcare industry, many employees feel like their company does not provide enough healthcare benefits. Rick also decided to improve the InnovaCare Health insurance options for employees. These changes improved the quality of coverage offered to employees. As a bonus, the monthly cost of health insurance through the company dropped.
With the success of InnovaCare Health, Rick believes that the company has a bright future in the coming years. He has numerous ideas to increase sales and decrease expenses. He thinks that preventative medicine is one of the best ways that customers can reduce their healthcare expenses. He plans to offer various products and services designed to help people reduce future medical costs.