Multi-site senior living organizations are more likely to offer bonuses to C-suite executives than are single-site organizations, according to the results of a new poll from specialty bank Ziegler.
Even so, the majority of all senior living organizations, regardless of the number of sites, offer such bonuses, the March CFO Hotline survey found.
Approximately 200 chief financial officers and other industry financial professionals responded to the poll. More than half (57.1%) of the participants said they worked at single-site organizations, with the balance working at multi-site organizations of varying sizes.
Organizations with two to three sites are more likely to offer bonuses to all three positions of CEO, chief operating officer and CFO. Across all organization sizes, CEOs are offered bonuses most often, followed by CFOs and COOs, according to the survey results.
- Metrics used to determine bonuses include financial performance, occupancy, growth, recruitment and retention of employees, and stakeholder satisfaction.
- More than 71% of respondents said positions outside of the C-suite also receive bonuses.
- 51% of participants said bonuses are based on a percentage of a person’s overall salary.
See Ziegler’s CFO Hotline newsletter for details.