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CareVet announces new revenue bonus program for all veterinary team members
The Revenue Share Bonus Program will provide all veterinary staff the opportunity to earn up to $2080 in bonuses per year.
CareVet, a network of hospitals operating in 27 states with over 1,110 team members, announced earlier this week the launch of its new Revenue Share Bonus Program. The new bonus plan, which is based on tenure, provides all veterinary team members the unique opportunity to earn up to $2080 in bonuses per year.
“This incentive bonus program aligns the goals of all members of the CareVet family and rewards team members for the integral part they play in their hospital’s success,” says Greg Siwak, CareVet CEO, in a company release. “Goals are based on revenue and mutually agreed upon by hospital leadership each month. By growing our hospitals together, we are able to invest back into our teams and facilities.”
According to the release, bonuses will be paid out monthly and cost an estimated $3.5 million companywide in 2021. Additionally, this wage increase to $17.08 hourly will impact over 50% of its hospital (or non-veterinarian staff). When combined with its Living Wage Program, the average annual wage increase per person is $6,600.
What’s more? The program was established as an investment in the company’s team members who deliver the highest quality of care and customer service to their patients and clients.
“We recognize that without our team members we would not be able to provide exceptional service to our patients and clients,” says Siwak, “We see the incredible effort this takes from our team members day in and day out, which is why we’re dedicated to giving back to them. By investing back into our teams and sharing our successes, we give our teams the capacity to serve more pets in our communities, increase compliance, and deliver unparalleled care. At CareVet, we all win together.”
The Revenue Share Bonus Program is 1 component of CareVet’s Whole Person Approach and supplemental to the Living Wage Program, which was announced April 1, 2021, providing a minimum of $15/hour to all team members.
To learn more about CareVet's new bonus incentive programs, go here.
Download Issue: dvm360 June 2021
