Gives human resource departments useful information about salary trends for lab managers
In recent years, the clinical pathology laboratory profession has lacked a reliable national survey of compensation trends for clinical laboratory executives, administrators, directors, pathologists, and managers. That situation may soon change, as two lab organizations are actively collecting the compensation data required to produce a useful national survey of laboratory compensation and benefits.
Slone Partners of Miami Beach, Florida, national recruitment experts for the diagnostic laboratory industry, and The Dark Report are collaborating to produce what is believed to be the nation’s first-ever national survey of trends in compensation, benefits, and perks paid to senior executives, lab administrators, lab managers, pathologists, and Ph.D.s working in the United States.
The results of this useful national survey of laboratory compensation will be presented by Adam Slone, CEO of Slone Partners, at the upcoming 15th Annual Executive War College on Laboratory and Pathology Management . The conference takes place on April 27-28, 2010 at the Sheraton Hotel in New Orleans, Louisiana.
During phase one of this national laboratory executive compensation survey, clients of Slone Partners and The Dark Report have been contacted and, where agreeable, are providing information—in a confidential arrangement—on the compensation and benefits they currently offer to their managers. Their human resources departments are completing surveys about the income, benefits packages, and other perks that are part of the employment agreements their laboratories maintain with key managers.
In phase two of this compensation survey, any clinical pathology laboratory is invited to participate, also in a confidential manner. In return, it will get a private copy of the survey. Participation is simple, and requires three steps:
- First, the clinical laboratory should contact the offices of either Slone Partners or The Dark Report to register its interest and provide the name of the person to be the point of contact in its human resources department. Office number at Slone Partners is 888-424-7800 and office number at The Dark Report is 512-264-7103.
- Second, the human resources contact at each laboratory will get a PIN number and instructions on how to log on to the internet survey site. The survey data from individual laboratories is collected in a “blind” fashion, so that survey compilers do not know the identity of the laboratory which completed an individual survey.
- Third, a summary of the trends in laboratory executive compensation, benefits, and perks, along with an analysis of the data, will be presented by Adam Slone at the Executive War College on April 27-28 in New Orleans. Within 30 days of that date, every laboratory which provided survey data will get a confidential copy of the survey sent at no charge to their human resources contact, in consideration for contributing information about their executive compensation packages.
Because of its ongoing activities in recruiting executive and management talent for a wide spectrum of clinical laboratories, hospitals, health systems, and pathology groups, Slone Partners has an internally-developed data base of compensation levels, benefits, and perks. The survey collectors will use this information and the terms of current search assignments to validate the data provided by the human resources departments of the laboratory organizations which participate in the confidential survey.
“For years, clinical laboratories have lacked a credible and extensive survey of executive compensation for the lab testing industry,” stated Adam Slone. “Slone Partners and The Dark Report are engaging their major clients to provide reliable data on compensation. This representative sample, when combined with data provided by other laboratories willing to participate, is expected to give us a wide data pool.
“In other industries, national compensation surveys like this are essential tools, used daily by human resources departments and compensation committees of boards of directors,” continued Slone. “We anticipate that this survey of clinical pathology laboratory managers will be updated annually and become an important reference source.”
“It is important to point out that, until now, the only published information about laboratory executive compensation has come from the earnings reports filed by public laboratory companies,” observed Robert L. Michel, Editor-In-Chief of The Dark Report. “Upon completion of this compensation survey, it will be possible for private lab companies, hospitals, and health systems to have a credible source of information about the compensation levels and benefits available at peer organizations. This will be invaluable in establishing a compensation package that attracts and retains top management talent.”