Swedish Covenant Keeps Salary Promise to Employees

By Hunter Clauss | Friday, April 9, 2010

Swedish Covenant Hospital. Credit: Mike Fourcher

Thanks to this Diet Coke version of the Great Depression, Swedish Covenant Hospital last year asked its employees to take a pay freeze in order for the hospital to prevent layoffs and make a $3-million profit. The plan apparently worked out for everyone:?the hospital raised $900,000 more than its intended goal, and employees will receive a lump sum to make up for the pay freeze, according to CBS Channel 2.

?Rather than cut staff, we decided it was a better option to give them ownership of the solution,? Swedish Covenant CEO Mark Newton told Crain’s Chicago Business. ?We said: ?Here?s how you can earn it back.??

The total amount of retroactive pay will clock in at $1.5 million, and some nurses can expect to see $1,500 more on their April 16 paycheck, according to?the Associated Press, which also reports that hospital staff implemented other cost-cutting measures, like putting “turn off the lights” reminders on light switches as a way to save money on the electrical bill.

Tags: ,

Share this now!

Spread the word