CEO compensation - pg.2 | allnurses

CEO compensation - page 2

The other day, our CNO and VP of Human Resources came to our unit to discuss issues and concerns we have regarding our unit, the hospital and our jobs. I brought up the topic of CEO compensation. ... Read More

  1. Visit  MN-Nurse profile page
    6
    Quote from dzadzey
    The other day, our CNO and VP of Human Resources came to our unit to discuss issues and concerns we have regarding our unit, the hospital and our jobs. I brought up the topic of CEO compensation.

    Over a six year period, our wages have been flat with inflation taken into account. Over a similar six the CEO of our health system saw a nearly 23% increase in compensation
    Your CEO kept your wages flat and put the savings in his pocket.
    tewdles, kcmylorn, David13, and 3 others like this.
  2. Visit  MN-Nurse profile page
    3
    Quote from Kyrshamarks
    If you think it is so easy being a CEO then nobody is stopping you from becoming one yourself.
    Please do some research on the background of wealthy CEOs. You can't just pick one and go, "Look, a poor slave from Elbonia can be a CEO!" Look at ALL of them.

    Hint: people have already done this and found that while anybody theoretically CAN become a CEO, not "just anybody" actually does for a variety of reasons. Start your research at "The Fundamental Attribution Error."

    I'll wait here.
    tewdles, KelRN215, and Lovely_RN like this.
  3. Visit  cally527 profile page
    0
    I understand how you feel, but from a business perspective her answers are correct. A CEO is responsible for the entire business. While we all would like to think that we could run a hospital or entire healthcare system, it is not that easy. Just one bad decision on his/her part can literally cause the downfall of an entire corporation. 1 bad choice could bankrupt the company, cause 100's of layoffs.
    Also, keep in mind that a CEO is not an employee at will. They have a contract that specifies pay, raises, bonus structure, benefits, perks, etc. So the company must comply with the contract or risk losing a large amount of money in court fighting a breech of contract lawsuit. Most CEO contracts are written for 5 or 10 year terms so what is happening now might not have been foreseen when the contract was drafted.
  4. Visit  wooh profile page
    6
    How irreplaceable are you? For the answer I like to look to who has to show up during inclement weather.

    Does being a good CEO take talent and strong business skills? Absolutely. Are those talents and skills is so rare that it requires the exorbitant compensation packages that CEOs are able to demand? Not even close.
    tewdles, David13, SHGR, and 3 others like this.
  5. Visit  chaka_1709 profile page
    6
    I agree that CEO's do hard work but really, million dollar salaries and outrageous bonuses while the workers are barely making a living. Greed, greed, greed. It is why our country is in economic turmoil right now. CEO's could cut their salaries to more realistic number and then use that money to hire more workers and give raises to the current workers.
    kcmylorn, KelRN215, elprup, and 3 others like this.
  6. Visit  SHGR profile page
    2
    Quote from cally527
    I understand how you feel, but from a business perspective her answers are correct.....
    I always though healthcare was more than "a business." I think that's the worldview from which a lot of this ire stems.
    David13 and wooh like this.
  7. Visit  cally527 profile page
    6
    Quote from hey_suz
    I always though healthcare was more than "a business." I think that's the worldview from which a lot of this ire stems.
    Lol, very well said! Healthcare SHOULD be more than just a business. It should be about HEALTHCARE only.
    The unfortunate reality is that it is very expensive to provide the level of healthcare that we have come to expect in the United States. From the cost of drugs (another conversation altogether) diagnostic equipment and supplies, to the cost of the expertise of the people that use the equipment, provide a diagnosis etc. Not to mention general overhead costs such as utilities, maintenance etc.
    I have a Bachelor's in Business so I understand that side of the situation which is why I commented. While I understand the foundations of business and the scope of responsibilities of the CEO, COO, CFO etc I also have trouble understanding why companies waste so much money on upper management salaries, bonuses and perks. These upper management positions should be compensated for their expertise and skills but not at such astronomical rates.
    elprup, tewdles, David13, and 3 others like this.
  8. Visit  dzadzey profile page
    6
    Quote from chaka_1709
    I agree that CEO's do hard work but really, million dollar salaries and outrageous bonuses while the workers are barely making a living. Greed, greed, greed. It is why our country is in economic turmoil right now. CEO's could cut their salaries to more realistic number and then use that money to hire more workers and give raises to the current workers.
    The real rub here is that our health system is a non-profit, yet our CEO's compensation package tops out an nearly $2million and has readily exceeded inflation for six years, while the wages for nurses, techs, therapists and other hourly workers have remained flat. And this reflects the larger trend in society. We have received two "market raises" over that same time period which were promptly eaten up by corresponding raises in the monthly costs of our health care benefits package.

    It's not just the corporate culture in the healthcare industry that needs to change...the whole social paradigm needs to shift. That's why I'll be on the lines with the 99% and OWS working aid stations at rallies and marches. We are more than just advocates for our patients. We are advocates for our communities and social justice as well.
    tewdles, TopazLover, KelRN215, and 3 others like this.
  9. Visit  wooh profile page
    3
    We've now lost getting any pay for sitting and waiting for them to call us when they won't let us come to work because of low census. No more pay to sit at home on call. It wasn't much money. But that's the point. Not much money, and yet they had to take even THAT from us. Let's play, "What has our CEO given up this week?"
    tewdles, kcmylorn, and David13 like this.
  10. Visit  dzadzey profile page
    2
    It's actions like this that are leading me to the point I'm ready to start organizing for a union.
    kcmylorn and elprup like this.
  11. Visit  Kyrshamarks profile page
    0
    Anyone of you complaining of CEO compensation could have chosen that career path, but instead you choose nursing. You could have been the one making the big salary. So in reality, why are you getting mad at the CEO, when they were smart enough to choose that path?
  12. Visit  SHGR profile page
    4
    Quote from Kyrshamarks
    Anyone of you complaining of CEO compensation could have chosen that career path, but instead you choose nursing. You could have been the one making the big salary. So in reality, why are you getting mad at the CEO, when they were smart enough to choose that path?
    So by your logic, none of the patients in my clinic who did not choose the path to becoming an RN have a right to expect fair, ethical nursing care. They should have become RN's themselves, rather than complaining.
    tewdles, KelRN215, elprup, and 1 other like this.
  13. Visit  kcmylorn profile page
    3
    The CEO is not responsible for anything! If I or any other RN make a mistake- that chump doesn't get sued, the RN does. If a doctor makes a mistake in the hospital- the CEO doesn't get sued- the doctor does. That CEO has no license to practice medicine or nursing. That's the criminal offense of all this. That CEO is making money decisions (one$ for you, $3 million for me)that are effecting peoples lives and my nursing license, and that CEO doesn't know the first thing about what I do nor does he really care, just as long a he gets paid according to his "contract". He has no license other than a driver's license and probably doesn't have one of those either, but he is going to make selfish greedy decisions that that are in his best interest. Our government needs to take over these healthcare facilites. healthcare costs would go down and hospitals would not close their doors and staff would be hired because the millions of dollars that are being throw away and wasted on CEO's salaries would be non existent. The money would be dumped back into the facility where it belongs - to take care of patients and not into 'lifestyles of the rich and famous'. I wouldn't trust any CEO with $5.00 to go to the corner store to buy me a gal. of milk. They'd pocket it and you'd never see them again.
    tewdles, wooh, and elprup like this.

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