Creve Coeur-based SSM Health Care will increase eligible employees’ salaries by 2 percent, according to a letter sent by CEO Bill Thompson. This comes after customary annual raises were temporarily suspended in early 2014, when the health system tried to steer its finances back to black.
SSM employs 30,000 individuals, and those eligible for the pay increase include part-time employees, clinicians, managers and executives. New hires are excluded.
The boost in take-home pay comes right after SSM’s success with a $150 million cost reduction plan that was implemented late last year to improve finances heading into fiscal 2014. Last year, the health system posted a $74.3 million loss.