Compensation

Laboratory Administration
Personnel management
Compensation

Author: Richard E. Horowitz, M.D.

Topic Completed: 1 November 2013

Revised: 12 March 2019

Copyright: 2002-2019, PathologyOutlines.com, Inc.

PubMed Search: lab administration compensation

Page views in 2018: 111

Page views in 2019 to date: 160

Table of Contents

Definition / general | Salaries | Benefits | Changing compensation

Cite this page: Horowitz R. Compensation. PathologyOutlines.com website. http://www.pathologyoutlines.com/topic/managementlabcompensation.html. Accessed December 13th, 2019.

Definition / general

Compensation is regulated by both Federal and State laws which address issues such as:
- Minimum wage
- Overtime
- Required meal and rest periods
- Permissible vacation
- Holidays
- Parental leave
- Assorted benefits including worker's compensation and other insurance
An institution may have additional policies governing such things as shift differential and on-call pay
The Human Resources department should assist the laboratory in assuring compliance with the Federal Fair Labor Standards Act and other pertinent laws
Laboratory management must also be knowledgeable about compensation of the laboratory staff

Salaries

Determined by Administration
May utilize community standards for rate setting
Should maintain internal equity with comparable salaries for comparable jobs

Benefits

Often more important than salary to employees
Insurance
- Health, Life, Disability
Continuing Education
- Tuition reimbursement
Uniforms
Hiring bonus
Child care
Free parking
Retirement and pension plans

Changing compensation

Employees often feel they are not compensated adequately, but institutional salary structures are usually quite rigid
When there is justification to increase an employee's salary the following are available:
- Annual cost of living increase
- Merit increases
- Promotion to a higher grade or step
- Reclassification to a new position
- Inequity adjustments
  - e.g. is MT paid less than a RN?
- Incentive and profit sharing systems
- Spot bonuses