According to a new survey from the American Senior Housing Association (ASHA), 67% of providers say the expect to expand their workforce in the coming year. Among other findings:
- 82% expect employee base salaries to increase. Those salaries are expected to range between 2% and 4%.
- 6% of companies say they expect salary decreases for executive management and function-head levels. These are attributed to voluntary salary cute related to the pandemic.
- 76% of respondents report maintaining a cash bonus program.
The survey also identified some top trends for 2021. These include shortened performance cycles and mid-year or quarterly bonus opportunities; caution surrounding executive payouts and grants; upgrading talent at below-market pricing; continued discretionary payouts for retention and morale; and compensation strategy alignment.
