Utilizing Compensation Strategy to Build a Loyal and Engaged Workforce

This article reflects on the process, learnings, and success of utilizing a common compensation philosophy and pay strategy for registered nurses to pursue strategically important organizational and professional goals. This article reviews the current state of nursing compensation practices and identifies those pay strategies than can be used to accelerate goal achievement and improve organizational performance. Developed by a team of chief nursing officers with staff input, specific policy, structure, and tactics were deployed and sustained over a period of 10 years to successfully advance the professional nursing organization as well as meet key performance metrics of the health system.