Univera Healthcare works diligently to create and administer a compensation program that is reasonable, competitive, fair and equitable, and compliant with any applicable regulatory guidelines while attracting, retaining and motivating high caliber employees that support the organization’s mission, objectives and long term success in conjunction with the Lifetime Way Values and Behaviors.
Univera Healthcare relies on the expertise of its seasoned Compensation center of excellence to proactively research the market to ensure it is paying employees appropriately with respect to industry, recruitment pool demographics, and internal equity. Our market studies take into account national, regional, local and hard to fill position data. We also look at pay for similar positions within the organization at regional, divisional and team levels along with accounting for performance history and amount of applicable experience. Our annual salary increase process is directly tied to the results of our corporate wide annual performance review process. In general, Univera targets base salaries at the median market practice and is proactively responsive to market pay fluctuations.
Univera Healthcare maintains a competitive Actuarial study program.
Univera Healthcare also conducts a corporation-wide annual performance process that includes: self-appraisal and supervisory appraisal against our key culture corner stones as well as an assessment against individual goals. Our annual salary increase process is tied to the results of this performance appraisal process. We strive to ensure that these processes are fairly administered and compliant with all regulatory guidelines.
The Company reserves the right to change, revise, or terminate any pay practices, policies or benefits, in whole or part, without any advance notice and at any time. In addition, nothing contained herein shall be construed to create an employment contract.