Mayo increases planned pay raises to 4 percent, citing inflation woes

Mayo Clinic announced this week it will bump employee pay raises up to 4 percent in 2022, up from the 2 percent raises introduced earlier this year.

In making the adjustment, a Mayo spokesperson cited concerns over the impacts inflation — which is at its highest level in four decades — may have on staff members at the lower end of the pay scale.

In addition to the 4 percent minimum salary increase for eligible allied health workers, Mayo said employees making less than $21 per hour will receive a stipend for hours worked from March 16 through Nov. 22.

“Throughout the pandemic, our staff has provided outstanding care for our patients, and delivered significant discretionary effort as we experienced historic numbers of patients who needed our care,” said Mayo spokesperson Kelley Luckstein. “We thank our staff for their contributions to Mayo and their commitment to each other and our values.”

Mayo’s initial 2 percent increases, announced in January, had been with a lukewarm response from employees, many of whom have been taking on an increased load due to Covid-19 and related staff shortages.

Nationwide, workers are expected to receive an average pay increase of 3.4 percent in 2022, according to a survey from Willis Towers Watson.

While results from Q4 2021 won’t be released for a couple of weeks, Mayo was in a strong financial position as of Q3 with a net operating income of $1.02 billion through the first nine months of 2021 — a nearly 40 percent increase from the first three quarters of 2019.

Cover photo: File / Med City Beat