Employee Success Sharing Program
Summary Description and Goals
The purpose of the Plan is to support the mission and values of the Providence Health System Alaska Region (PHSA) by focusing attention on Quality, Customer Satisfaction, People and Financial Performance. The overriding goal of this Plan is to align employees with business goals and provide them with a better understanding of what contributes to operational excellence. The Employee Success Sharing Plan provides lump-sum financial awards to eligible participants.
Participation and Award Eligibility
For purposes of this Plan, an eligible employee is defined as an employee with an employment status of full-time, part-time, benefit eligible, part-time non-benefit eligible, or on-call.
In order to participate in the Plan and receive an award, Providence employees must be an eligible employee for at least six months during the Plan year (January 1 through December 31); and be an active eligible employee on the date the awards are dispersed.
Eligible employees with a total FTE status of .6 or above, during the Plan year, will be eligible to receive 100% of the award amount. Eligible employees with a total FTE status of .5 or less, during the Plan year, will be eligible to receive 50% of the award amount.
Employees who have a change in status during the Plan year will be eligible for the award amount consistent with their employment status at the end of the Plan year.
Net Operating Income (NOI) is the key indicator and trigger for all of the objectives. PHSA NOI must be achieved before any of the objectives can be measured for award determination. If PHSA NOI is not achieved, there will be no awards for that Plan year.
Award determination is based on key objectives. Each objective is tied to measures deemed significant in evaluating company performance and results. Each measure and goal will be determined by PHSA Administration.
Provided that PHSA NOI is met, each of the objectives will be measured separately by entity for goal achievement allowing each eligible employee the potential to earn a maximum of $600. Refer to the Plan Matrix for detailed measures, goals and award amount.
Each eligible employee can only fall under one entity and their award will be based on that entities measures and goals. If, during the Plan year, an eligible employee changes positions and moves under another entity, the measures and goals of the latest entity, at the end of the Plan year, will apply.
Employees with alternate positions will fall under the entity of their level one (home) position.
Note: Providence Health System Alaska Region NOI goals will be the key indicator and trigger for all of the above stated objectives.
|Plan Year Start Date
|Plan Year End Date
|Pay Out Frequency
|Pay Out Period
||March following end of Plan year
|Form of Pay Out
||Cash Lump Sum - will be taxed
||Frequency varies by facility