But top-tier healthcare talent is in high demand and has a lot of choices about where they’d like to work. Your competitors won’t think twice about poaching your best employees, and the labor shortage means you would have a tough time replacing them. Smart healthcare organizations are focusing on employee retention to ensure continuity of high-quality patient care.
Here are four tips to help you hold on to your Patient-Centered Workforce:
1. Predict employee retention
In healthcare, the candidate assessment process is critical for hiring employees who match the mission, vision, and values of the organization. Employees who are a great fit for your organization are more likely to be engaged, and retained. Constantly tweak your assessments through performance management learnings and turnover analyzation. Assess candidates for the traits your high performers possess, and screen out candidates who exhibit the same attributes as those who turn over quickly.
2. Create a positive work environment
A positive work environment will help you retain employees, as well as attract top talent from organizations that lack a good environment. Elements of a positive work environment include organizational culture, availability of sufficient supplies and equipment, team relationships and collaboration, and a work-life balance. With a great work environment, your employees will thrive, helping them feel more satisfied with their work — and making them more likely to stay with your organization.
3. Provide competitive compensation
Healthcare work can be as stressful as it is rewarding, and one of the best ways to show your workforce you value them is with competitive compensation. Compensation strategy should take into account factors such as location, role, experience and company size. Incentivize employees to put patients first, and recognize their contributions to ensure satisfaction. If people don’t feel that they’re being paid fairly, they will become dissatisfied and leave. Reduce pay-based turnover and retain talent by staying competitive within the local and national job markets.
4. Execute on career advancement
Keep employees engaged and satisfied by creating a development plan for them from day one, and executing on it. According to Frederick Morgeson, Ph.D., who conducted the Healthcare Retention Study, more than 90% of all staff turnover occurs within 18 months. Show employees that they have a future at your organization, and they will be more likely to stay long-term. Many of your best employees will have a desire to constantly learn and grow in their careers, and executing on career advancement is one of the best ways to retain your Patient-Centered Workforce.
The entire employment lifecycle, from recruitment to career progression, should be aligned with employee retention. When healthcare organizations are all competing for the same talent in order to provide consistent quality care to their patients, you can’t always hire great people when you need them. Instead, focus on retaining the talent you’ve already selected, aligned, and developed.
Are you interested in learning more about recruiting a Patient-Centered Workforce? Download our How-To Guide!
Build a Patient-Centered Workforce: How to Select, Align, Develop, and Continuously Retain Highly Engaged People