A community of 30,000 US Transcriptionist serving Medical Transcription Industry
Who Cares? - Meh
Posted: May 22, 2015
Don't you hate it when you get an email about teamwork and how Nuance strives for excellence and how we're all part of a team? If they strive for excellence, they should pay for excellence. If we're all part of a team for Nuance excellence, then MTs should be paid as if they contributed to the team's excellence. Getting paid minimum wage says otherwise and is why nobody cares and doesn't feel like part of the team despite all the talk of phony "RAH! RAH!" Phony teamwork talk and talk of excellence just makes me a little angry when it's not backed up with real deserved compensation.
I'll believe I'm "valued" when corporate does - the same as the CEO of a -
[ In Reply To ..]Seattle company did. He cut his own pay so that he could raise his employees' wages.
Do that, corporate, and then we'll talk about "appreciation". 'kay?
Speaking of CEO pay - Nuance flunked "say on pay"
[ In Reply To ..]I came across this article about how disgusted the shareholders are with the CEO of Nuance. Last year the Boston Globe named him the most overpaid executive in Massachusetts.
"Nuance didnât just lose the vote, it got shellacked: More than 85 percent of voted shares were cast against Nuanceâs executive compensation."
It's too bad that the only thing important to shareholders is profits, so even if the CEO pay goes down, the only thing that will ever happen to our pay is down, down, down, offshored, etc., since profits are the only thing that matters, but at least they are not rewarding this CEO as much as they were, why his bonus went down to only $17.9 million last year!
It will be interesting to see what the - CEO bonus is this year
[ In Reply To ..]I think the stock is rallying, but will shareholders still be happy with his massive bonus?
Apparently, the Boston Globe does not link, but you can go to
http://www.bostonglobe.com/business/2015/05/18/nuance-communications-one-nine-companies-flunk-shareholder-say-pay-vote/udWDuBRdbex49RVfCbe0dO/story.html
or here is the relevant part:
"Nuance Communications one of nine US companies to flunk âsay on payâ
By Steven Syre Globe Staff May 19, 2015
This is the time of year to get bent out of shape about corporate executives and their fat paychecks.
By now, most big public companies have reported how much their top executives earned in 2014. A national list published in The New York Times over the weekend said the average chief executive compensation package rose about 10 percent, to $22.6 million.
At least three chief executives in Massachusetts earned more than that: Jeffrey Leiden of Vertex Pharmaceuticals Inc. in Boston ($36.6 million), Stephen MacMillan of Hologic Inc. in Bedford ($24.5 million), and Carol Meyrowitz of Framingham-based TJX Cos. ($23.3 million).
But there are other ways to measure executive compensation beyond merely counting dollars. To hunt for evidence of really audacious pay packages, take a look at how stockholders vote on the subject.
Every public company asks shareholders to approve the compensation of top executives. These annual votes are considered nonbinding advisory opinions, so they have no real teeth and stockholders usually approve the pay packages by wide margins. But when they protest, itâs worth paying attention.
Thatâs what happened at Nuance Communications Inc., of Burlington, where the compensation of chief executive Paul Ricci has long been a touchy subject. Last year, I named him the most overpaid chief executive in Massachusetts.
Maybe shareholders were reading. Or maybe they just got fed up.
Nuance didnât just lose the vote, it got shell-acked: More than 85 percent of voted shares opposed its executive compensation.
But Nuance is one of only nine companies nationwide to flunk the so-called âsay on payâ vote so far this year, according to Veritas, an executive compensation consulting firm.
Nuance didnât just lose the vote, it got shellacked: More than 85 percent of voted shares were cast against Nuanceâs executive compensation.
One important footnote: Activist investor Carl Icahn owns 19.4 percent of Nuance. You donât need to be a math whiz to figure out which way he voted.
Nuance is the computer speech-recognition company whose technology is featured in Siri, the digital assistant that answers questions spoken into Appleâs iPhone.
The company is also known for its Dragon NaturallySpeaking dictation software, and contracts with lots of humans to handle other dictation business.
In the past, shareholders have cut Ricci a lot of slack because he built Nuanceâs business from scratch with a long series of business acquisitions.
But his compensation â $37 million in 2012 and $29 million the next year â became harder to swallow while Nuance stock was actually losing value. The companyâs shares slumped 22 percent between the start of 2012 and the end of 2013, while the stock market was climbing 24 percent.
Early in 2014, Nuance barely prevailed in the say on pay question. Just 50.4 percent of voting shares approved of the companyâs executive compensation.
Ricciâs pay went down over the following year, to $17.9 million, but by the time his package came up for a vote again in January, the company had already lost the support of stockholders.
A Nuance spokesman didnât return my call Monday."
Other Information - Meh
[ In Reply To ..]There should be a concise added paragraph to the article right after the paragraph explaining what Nuance does "blah blah...and contracting with lots of human to handle other dictation business." The additional paragraph should tell about how many medical dictations are shipped overseas, mainly to India, and that's how the company saves money to go to the overpaid CEO, and how there are still some medical dictations transcribed by US workers who are paid around minimum wage.
Define excellence, then - sm
[ In Reply To ..]ask them to add it to the grid. Wouldn't that solve your problem?
What? - Meh
[ In Reply To ..]Don't understand your comment.
You said - sm
[ In Reply To ..]Meh said, "If they strive for excellence, they should pay for excellence. If we're all part of a team for Nuance excellence, then MTs should be paid as if they contributed to the team's excellence."
And I agree with you. But what is your definition of excellence? If you can tell Nuance what excellence is, they can add it to the grid and you can get rewarded for being excellent.
So what makes an MT excellent?
Accuracy?
High production?
Sending minimal reports for blanks?
If you were running the show, how would you define excellence and then reward excellent MTs?
You said - Idiocy - AnonQC
[ In Reply To ..]ALL MTs should be paid hourly, THEN first quality and LAST production should come into play...and it sure as hell shouldn't be $10 a #@*!%ng hour. Hired after graduating, I made over that, many moons ago. Excellence is what we old school MTs strived for. The industry (Nuance, in particular) has made it "beat the clock."
Wondering if you think you're devil's advocate or a survey taker...
You failed to answer the question - sm
[ In Reply To ..]Getting paid hourly doesn't change the question.
What is excellence? How are you rewarded for it?
She did answer. You just didn't understand it. - wtfe
[ In Reply To ..]The previous poster said start with hourly. Give a base salary. THEN you are rewarded with a quality bonus, maybe a flat rate or on a graduated system. Then a production bonus, which at a hospital I worked at long ago was $1.20 per audio minute over 120 minutes a day. I usually did 200 minutes. If I remember correctly, once you hit 120 minutes transcribed, the $1.20 would cover everything typed for the day. BUT, in order to get the audio bonus, you had to maintain over 98% QA. Answered?
TY wtfe - AnonQC
[ In Reply To ..]He/she still won't get it.
Ever talk to someone so stupid they made you squint?!
Daily. LOL - wtfe
[ In Reply To ..]...
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