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The healthcare industry is infamous for high turnover rates, reaching 16.29% in Q3 2022. That's 5% higher than average.
Why?
Jobs in the healthcare sector are not for the faint-hearted. The hours are long, stress is through the roof, and then add the COVID-19 curveball into the mix. It's a tough job that takes the right person with the right experience.
But most employers fail to realize that you can significantly reduce turnover rates with a proper recruitment strategy.
In this guide, we'll share five simple ways to tackle high turnover in healthcare by doubling down on your recruiting efforts.
Are you ready to learn more?
Let's dive in.
Every industry has a top dog. You might think of Goldman Sachs as a leader in investment banking. HR Cloud for HR tech. And Kaiser Permanente for healthcare.
What do these companies have in common?
People dream of working at these organizations from the day they graduate high school. But how do high schoolers even know these companies exist?
It all comes down to a strong employer brand.
A well-crafted employer brand showcases your company's unique qualities and sets you apart from competitors, making you an attractive option for job seekers.
And in a competitive job market or an industry with high turnover, a strong employer brand can make all the difference in attracting top talent to your company.
Here are a few ways you can build a strong employer brand:
Define your company culture: Start by defining your culture, including your values, mission, and what makes your company unique. The goal is to attract job seekers who align with your culture.
Build an online presence: Create an online presence to promote your employer brand, including your company website, social media, and job listing sites. Make sure your company's messaging is consistent across all platforms, and highlight what makes your organization a great place to work.
Establish a strong reputation: Build a strong reputation in your industry by consistently delivering quality products or services and promoting ethical and responsible business practices. Job seekers tend to look for a company they're proud to work for.
Encourage employee advocacy: Encourage your employees to promote your company by sharing their positive experiences with others. Employee advocacy can be a powerful tool for attracting top talent, as potential employees are often more likely to trust current employees' experiences than your marketing messages.
With these tips in mind, you'll be on your way to landing a coveted spot on LinkedIn's Top Companies in Health Care.
And you can bet your bottom dollar that healthcare professionals keep a close eye on this list when applying for jobs and making important career decisions.
Interviews are time-consuming and stressful. But they give us a sneak peek of what a candidate is really like. And you can post jobs, evaluate candidates, and hire the best candidates with the right applicant tracking system (ATS), like HR Cloud.
Someone can look amazing on paper (or vice versa), but interviews allow us to peel back the layers to learn more about the candidate and whether they are a good fit for the role.
So use your interviews to your advantage and start asking the right questions. These questions can give you a clear picture of the candidate's skills, experience, and fit for the job.
For instance, if you are looking to hire a psychiatrist, you might ask them how they determined the proper anxiety treatment for a patient in their past roles. They can walk you through their treatment plan and decision-making process.
Also, feel free to ask questions about their personal goals and work style to determine if they align with your company's culture and values.
Here are a few examples of relevant questions that you can ask:
Why are you interested in this particular role, and how do you see yourself fitting into our company culture?
How do you prioritize tasks and manage your time effectively?
Can you tell us about a particularly challenging experience you faced in your previous role and how you handled it?
As you field their responses, look for any red flags indicating a potential issue with the candidate. For example:
With a thorough interview process, you can identify the best candidates for the job and avoid potential red flags that could lead to turnover within a year or two.
Low pay is one of the leading causes of employee turnover.
A study by Paychex shows that 70% of people agreed that they would depart their jobs due to inadequate compensation. Because at the end of the day, we all have bills to pay and loved ones to support.
And according to Forbes, on average, employees can anticipate a yearly 3% raise if they remain with the same company. But, switching to a different organization can result in a pay increase of 10% - 20% as part of the negotiation during the interview process.
Even your most loyal team members may choose to leave your organization if offered a more appealing opportunity.
To address this issue, you should regularly evaluate your compensation packages to ensure they align with industry norms and the cost of living within your state.
For example, the average CRNA salary is $202,470. If your company is offering to pay $50,000 below these rates, you might struggle to attract new employees and keep them around long-term.
If offering higher wages isn't possible, consider compensating for pay disparities through additional incentives like flexible schedules or health savings accounts.
In a competitive market, convincing candidates to accept your job offer can be more challenging. Go the extra mile during the hiring process to showcase your top employee benefits and their value to the compensation package.
To help set yourself apart, you should offer additional benefits, such as the best dental insurance with orthodontic coverage, unlimited paid time off, and a healthy work-life balance.
Why? 73% of employees feel more encouraged to stay with an employer when offered access to these high-quality benefits.
And according to MetLife, health insurance is essential for employee benefits.
So think outside the box by offering career development opportunities, employee recognition programs, fitness stipends, etc. These small gestures go a long way.
Onboarding is a critical aspect of the recruitment process and sets the tone for an employee's tenure with your company.
A seamless onboarding experience can play a significant role in starting new hires on the right foot. It establishes a foundation for future success and prioritizes workplace autonomy.
First impressions are worth their weight in gold, and a positive onboarding experience can help foster a sense of belonging and loyalty among new hires.
Here are a few tips for investing in a well-designed onboarding program that properly trains new hires and sets clear expectations:
Choose an all-in-one HR solution, like HR Cloud, that specializes in the healthcare industry
Provide a comprehensive orientation program that covers company culture, policies, and procedures.
Assign a dedicated mentor or coach to provide support and guidance.
Incorporate interactive training sessions to engage new hires and encourage active participation.
Allow time for new hires to meet and connect with their colleagues.
Conduct regular check-ins and progress updates to ensure new hires adapt well and have the necessary resources to succeed.
Encourage employees to work at their own pace and via their preferred medium.
With a seamless onboarding experience, you can help new hires feel valued and supported, leading to improved morale and lower turnover rates.
Reducing high turnover in healthcare is not a walk in the park, but it's possible.
The key is to build a strong employer brand, hire the right people for the job, and provide appropriate compensation and benefits to attract top-performing employees.
Focusing your attention on the recruitment process can nip the problem in the bud from the get-go. It can be a game-changer for your company.
So don't wait — take the first step today to overhaul your recruiting strategy to get things started on the right foot.
Not only does it benefit your current and future employees, but it also helps ensure the success and longevity of your organization.
Happy employees and low retention rates lead to increased productivity, higher job satisfaction, and a stronger bottom line.
Author Bio:
Guillaume is a digital marketer focused on handling the outreach strategy at uSERP and content management at Wordable. Outside of work, he enjoys his expat life in sunny Mexico, reading books, wandering around and catching the latest shows on TV.