US non-profit healthcare organisation Mayo Clinic will restore 20,000 employees to full pay from 24 June 2020, six months ahead of schedule.
Due to the estimated long-term financial ramifications of the Covid-19 (Coronavirus) pandemic, physicians and senior administrators have been a 10% reduction in pay while other salaried employees saw a 7% decrease.
However, the pay reduction, which was implemented in April 2020 and was due to be in place until December 2020, has been reversed due to an uplift in the organisation’s financial performance.
Additionally, a small percentage of staff that are currently furloughed will return by the end of August 2020.
However, senior leadership employees will still have their pay cuts in place.
Despite 20,000 employees being restored to full pay, the business has confirmed that not everyone will return to the worksite, as the Coronavirus pandemic has proved that many employees can work effectively from home.
Gianrico Farrugia, president and chief executive at Mayo Clinic, said: “The hard work, flexibility and sacrifice of staff has resulted in a better than expected increase of activity across the business. Outpatient visits and procedural and surgical volumes are rising as Mayo Clinic prioritises patient and staff safety along with high-quality care.”
“Because of our staff’s teamwork and commitment to patients, our practice reactivation over the past eight weeks has truly exceeded expectations for revised 2020 patient volumes and financial targets. In short, we are in a much better position than we anticipated, and we’re very pleased to be able to restore pay and end furloughs early.”
“The pandemic has demonstrated that many people can work effectively from home given the need to protect patients and staff.”