Assume that you are the new CHRO of a 450 bed, metropolitan full-service hospital with over 1,800 employees -- Congratulations! In spite of ranking at the 50thpercenti|e for wages in the area (there are 3 other hospitals within 10 miles of your facility), morale among employees is an all-time low. A recent employee survey revealed the poor morale as well as a high rate of burnout. (In fact, 30% of the nursing staff admitted to currently looking at other jobs.) Staff turnover during the past 2 years has been about twice the previous rate and absenteeism was up 50% over the same time period. The last COO introduced an employee "flex time" plan tha saved the hospital 15% in wage costs by sending employees home when the patient census w low. [Of note, 70% of nurses managed to consistently work a 40-hour week last quarter.) This program gives all employees 3 days of personal time/sick time and 2 weeks of paid vacation. Current employee benefits include a small life insurance policy, a 401k plan (no matching] anc health insurance for employees, but not spouses or dependents. No other insurance or benefi are currently offered. (80% of employees have a "significant other" and 40% have at least one child between 1 and 12 years old.) Demographics and more information: Current Workforce [excluding physicians) Boomers - 25% Gen X - 30% Millenials [Gen Y) - 30% Gen 2 - 15% Minimum Wage Workers are 15% of the workforce and their current average pay rate is $10/l The majority of these workers are in food service, housekeeping, patient transport, clerical an medical assistants. The Assignment As the new CHRC]| [or Chief People Officer), you have been tasked with designing a total compensation program to fix the mess you have inherited. The hospital has given you a budge to work within and some options to choose from, which are summarized below. Item Description Relative Cost Points Wages Increase for all salaried and professional employees to 65th %-ile 3.5 Min Wage Increase Min Wage to $12/hr 1.5 Increase Min Wage to $15/hr 3.0 (accompanied by a 5% lay-off]