Finding and keeping excellent doctors, nurses, and other medical professionals is crucial to the health of patients and the pleasure of their healthcare providers in today’s healthcare system. However, competition for top-tier talent is tough, and attrition rates can be high. Sixty-seven percent of hospitals report increased turnover rates, and the average turnover rate for bedside RNs is 16.4 percent, according to a survey conducted by Nursing Solutions in 2016. One in five workers in the healthcare industry leaves their positions annually, or 20.4%, according to the American Society for Healthcare Human Resources Administration.
Now the question is, what can a company do to increase employee contentment on the job and keep its best people around?
Develop a Workforce Recruiting and Retention Strategy
Recruitment is critical in developing a thriving workforce, and an effective recruiting and retention strategy is essential. When recruiting, it is crucial to identify selling points that set your company apart from the competition. This could include competitive salaries, benefits, or desirable job roles. Once the selling points have been identified, the next step is to define your target audience and tailor recruitment efforts accordingly.
You can reach potential candidates through targeted campaigns and social media initiatives and make them aware of new opportunities with your organization. Creating a positive image of your organization can go a long way in helping you attract and retain top talent. The right strategy should then be implemented to ensure that recruitment remains successful.
Promote Healthy Work-Life Balance
Candidates’ desire for a work-life balance is a significant factor in their decision to accept or reject a job offer. Especially true for the millennial generation, which is expected to make up 75% of the world’s workforce by 2025 and places a premium on work/life balance and vacation time.
In addition, half or more of doctors report feeling burned out. Hospitals can retain their best clinical staff by promoting work-life balance among their employees.
Provide Health and Wellness Programs
Health and wellness programs have become more prevalent in recent years, with businesses taking the initiative to provide these programs for their employees. These programs are becoming increasingly important for potential hires, especially millennials, as they prioritize work-life balance. Health and wellness programs can help businesses find and keep the best employees by showing them that the company cares about their health and well-being. These programs can include providing access to a gym or offering discounts on healthy meals.
Health and wellness activities can also reward good behavior or encourage better lifestyle habits with incentives such as gift cards or time off from work. Hospitals may stand out from the competition by increasing employee engagement and health by providing this benefit in addition to retirement, health, and life insurance.
Invest in the Right Technology
Telemedicine and other remote monitoring forms have been widely adopted by medical facilities around the country since the start of the pandemic. Clinical workflows that use these technologies can reduce inefficiencies and boost adaptability, freeing up more time for providers to focus on individual patients.
In addition, modern clinicians are more tech-savvy than ever before. A recent survey found that 79% of younger doctors surveyed preferred electronic medical records (EMRs) to paper ones. Having cutting-edge technology in place can set your practice apart from the competition and make it more appealing to the best and brightest clinical minds.
Enhance Compensation Packages and Benefits Offerings
Compensation packages and benefits offerings are essential for employers to attract the best talent. Fair compensation and benefits packages should keep employees motivated and content with their job. A good benefits package should include paid time off, reimbursement for travel expenses, repayment of educational loans, and physician recruitment assistance.
Employers can ensure a fair package to attract the best talent by providing these benefits offerings. Additionally, offering a competitive compensation and benefits package can help employers create a positive working environment for their employees and make them more likely to stay with the organization for the long term.
Conclusion
In these dire times, one thing is sure: the difficulty of recruiting medical professionals. It’s getting more and harder to find and keep qualified employees. The capacity to see beyond pillars and how the whole is interconnected separates successful businesses from unsuccessful ones, not a specific technique or technology within a given talent management pillar. Those that do so within a given solution stack significantly outperform those who look elsewhere for a better deal.