Most CEOs Say Salaries Will Increase in 2019
We increased pay in 2018 to reflect a rise in the consumer price index and also to ensure that our compensation for health care providers is competitive with that offered in South Florida and nationally. We expect to continue to increase pay in 2019 in key areas for the same reasons. Our goal is to attract the most highly qualified health care providers including nurses and others, and retain the exceptional workforce we require for our hospitals and clinics.
Dr. Edward Abraham, executive vice president for Health Affairs of the University of Miami and CEO of UHealth – the UM Health System
We believe in proper pay scales for top-performing talent. Because we have several sides to our company, we forecast higher contract rate per hour, but it’s the benefits that makes the difference. The constant rise, tweaking of services and sudden changes in healthcare, necessitates equal understanding when pay scales do not increase with expectations. Once the conversation turns to healthcare benefits, we are all on the same page.
Jim Angleton, CEO for Aegis FinServ Corp.
Cleveland Clinic Florida attracts the very best caregivers by remaining competitive in the market with our total rewards package. We frequently review our compensation and are committed to remaining competitive in all of the communities we serve. We have historically given cost-of-living increases as well as increased compensation based on performance.
Wael Barsoum, M.D., CEO and president of Cleveland Clinic Florida
Ocean Bank provides yearly merit increases to team members based on their performance, and where applicable, on meeting target goals. In 2019, we will continue the merit program.
Agostinho Alfonso Macedo, president and CEO of Ocean Bank
We had minimal cost of living adjustments in 2018. We do not anticipate any in 2019. We are utilizing this year to build a new 50,000-plus square foot facility. All of our efforts are focused on that. We believe that with this new building, we will usher in a time of prosperity for our foundation and the nonprofits that are under our umbrella. We also think that this expansion will create more growth opportunities for our existing employee base.
Bill Diggs, president, The Mourning Family Foundation
For T-ROC, 2018 was another year of investment designed to prepare us to be aggressive in 2019 and beyond. Therefore, a significant portion of that investment was to increase wages. Our three core tenants are to: 1) Stay flat and close to the organization, 2) invest in technology, and most importantly, 3) invest in people. Therefore, T-ROC did increase wages and promoted more than 500 members of our team into higher level positions in 2018. We also launched a new bonus plan for corporate staff. We are always evaluating the competitive environment to attract excellent talent and will continue to find ways to be the employer of choice for our new and existing T-ROCers in 2019. If that includes adjustments to wages, we will make that investment!
Brett Beveridge, CEO and founder of The Revenue Optimization Companies (T-ROC)
In 2018, we were able to provide small cost of living adjustments to employees and plan to provide similar adjustments in 2019. As an organization with a staff comprised primarily of women, and an organization that serves girls, the recent report from FIU Metropolitan Center regarding disparity in pay for women is concerning. It is my hope that employers will keep in mind the gender pay gap and the consequences of this gap when making salary and pay increase decisions.
Chelsea Wilkerson, CEO of Girl Scouts Tropical Florida
Yes, we increased pay by an average of three percent in 2018 and plan to increase pay in 2019. Three years ago, when I took the helm as CEO, I explained to my Board of Directors that we had to pay more if we wanted to attract the best in the business to help us become a preeminent agency in the area of child welfare. They understood and agreed to help me increase salaries. As the data shows that our efforts are working, it is easier to convince them to allow me to stay on this track for another two years, even if the economy does not look favorable.
Dorcas L. Wilcox, CEO of Miami Bridge Youth & Family Services
Florida College System institutions have two primary sources of revenue: state funding and tuition. The last few years have included nominal increases, and sometime declines, in state funding for the Florida College System. Tuition for Florida College System institutions is capped by law at $82.78 per credit (the cap has been in place for at least eight years). Accordingly, being in a situation where we continue to fall short on the resources necessary to fully serve our students, there was only room for very modest pay increases in 2018, just as in years past. Even still, we have instituted pay for performance plans to drive funding for student support and for modest pay increases based on student success, enrollment, retention, and on operational efficiencies that increase margins.
Gregory Adam Haile, president of Broward College
Yes and yes. The company performed well, and our people deserve to be rewarded for their contribution to that performance.
Jorge Gonzalez, president and CEO, City National Bank
The most talented employees aren’t typically motivated by the pay alone, but rather by knowing they are being treated fairly economically and appreciated for their value so they can focus on the joy of what they do. Wages are increasing, and we’ll have to keep pace.
Louis Hernandez Jr., CEO, of Black Dragon Capital
Paul Singerman, co-chair of Berger Singerman
Other than during the late 1980s savings and loan debacle, and then again during the Great Recession in 2008/09, we have increased our employees’ compensation and bonus packages every year since incorporating in 1986. In fact, the past few years, we’ve given two annual bonuses to our employees, which include doubled salary the week of Thanksgiving as well as a very generous bonus at the end of the year.
James “Jimmy” Tate, co-owner and president of TKA-Evolution Apparel and of Tate Capital, and co-founder of Tate Development Corp.
I’m not sure what the Miami Super Bowl Host Committee salary structure will be in 2019.
Rashad D. Thomas, vice president of business connect and community outreach for the Miami Super Bowl Host Committee
We have increased pay from 2018 to 2019 as there is currently a labor shortage for qualified professionals in the design and construction industry and we believe it is essential to retain our loyal experienced team to grow within the firm.
Manny Angelo Varas,
president and CEO of MV Construction Group
The Miami Herald: https://www.miamiherald.com/news/business/article225965655.html