Valley Health invests additional $17 million in employee compensation

Valley Health System, one of the largest employers in the tri-state region, has announced an additional $17.2 million investment in its 6,000-member workforce through a variety of compensation enhancements in 2022. These enhancements include market adjustments to base pay, another increase in the just wage (starting pay for entry level positions), and a three-percent pay increase for all eligible full-time and part-time employees, up to and including the director level. The nonprofit health system has accelerated the increases in response to climbing inflation rates affecting everyday expenses including fuel, groceries, and essential goods.

Since 2020, Valley Health has invested more than $50 million in payroll and benefits in a concerted effort to retain its talented team, remain an employer of choice, and ensure the highest quality care for the community.

“I have profound respect for our team at Valley Health who have shown such resilience and continue to make an incredible difference in the health and well-being of their patients, coworkers and the community,” said President and CEO Mark Nantz. “They are the ones who breathe life into our mission – serving our community by improving health. In order to remain the region’s premier healthcare provider, and the healthcare employer of choice, it’s essential we offer competitive pay and benefits in addition to a culture which celebrates the difference we make in people’s lives each day.”

Each year, Valley Health reviews regional data to ensure staff are compensated fairly as compared to other healthcare employers. This information is used to adjust pay rates, where needed, and establish a budget for annual merit increases in pay. Over the past two years, this market analysis has driven more than $50 million in pay increases at Valley Health. This includes raising the just wage from $12 to $14 per hour in January 2021 and again last month to $15 per hour. Collectively, these changes impact 80% of Valley Health’s employees. Additionally, Valley Health will provide a three percent annual increase to all eligible full-time and part-time employees, effective April 3, 2022.

Valley Health offers employees a comprehensive array of benefits including tuition reimbursement, 403b retirement contribution and employer match, health insurance coverage, optical and dental plans, and dependent care accounts. This marks the second year that Valley Health has maintained its health insurance plans with no premium increase to employees.

“The ongoing commitment of our team is integral to maintaining an exceptional environment in which to work and receive health care,” Nantz said. “The pandemic created major financial, supply chain, staffing and morale challenges throughout the world. We felt compelled to do what we could now to express our gratitude and support to this amazing team.”

(Valley Health is a nonprofit health system serving a population of more than 500,000 in the Northern Shenandoah Valley of Virginia, the Eastern Panhandle and Potomac Highlands of West Virginia, and western Maryland. As a healthcare provider, employer, and community partner, Valley Health is committed to improving the health of the region. The system includes six hospitals, more than 70 medical practices and Urgent Care centers, outpatient rehabilitation and fitness, medical transport, long-term care, and home health. www.valleyhealthlink.com)