4 Ways U.S. Hospitals Can Increase Their Talent Pool and Retention
The healthcare industry in the United States is continuously growing, and hospitals are facing a massive challenge of finding and retaining excellent employees. In a recent survey of more than 300 industry executives, 74% of respondents believe that their organization needs to place a higher emphasis on talent acquisition and retention. Retaining employees is not only cost-effective, but it also adds continuity to treatment, which can lead to higher-quality patient care. Therefore, hospitals need to focus on improving their strategies for selecting and keeping top talents. Here are four ways hospitals can increase their talent pool and retention.
1. Ensure Competitive Benefits
The first step to retaining employees is by offering competitive benefits. Two of the most common strategies that hospitals use to retain their best employees are improving pay and increasing compensation packages. Although hospitals may have budget restrictions, the best employees can see the highest number of patients and bring in more money to the hospital, making the money spent on employee salary worth the cost. Hospitals can reward their employees with bonuses or raises by using a mix of anecdotal and numerical indicators. For example, an insurance representative who makes it through a certain number of claims could be rewarded, as well as a nurse who consistently gets great patient reviews.
2. Support New Hires
A hospital can be a busy and stressful environment, especially for a new employee. Hospitals need to provide new hires with the resources to understand and thrive in their new environment. An employee who has a difficult time adapting or isn’t given the necessary support to understand their roles is more likely to look for a new position. Therefore, hospitals should connect new employees with co-workers and department heads who can show them the ropes and help them feel like part of the team. An assigned mentor can also help with the training process and point out the hospital’s culture and procedures.
3. Offer Growth and Learning Opportunities
The healthcare industry is a fluid industry, and hospital employees tend to want to keep learning and growing by applying their skills to new areas. If employees leave an organization because they don’t see any opportunities for advancement, it’s a significant loss to the hospital. To retain their top talents, hospitals should set an example that hard work leads to promotions and advancement. When an employee sees a colleague be rewarded for hard work, they are more likely to work harder and see that advancement is possible. Hospitals can also be flexible with additional learning opportunities. If an employee wants to take a course that will give them skills to be better at their job, such as medical transcription training, work that into their schedule and encourage other employees to do the same program. Many hospitals reimburse employees to attend industry conferences and offer bonuses to employees who earn certain certifications.
4. Create Efficient Processes
The healthcare industry has its bureaucracy and red tape, which can be stifling to employees. Hospitals tend to have large amounts of rules and paperwork, which can waste employees’ time and lead to frustration. Hospitals should look for ways to streamline their processes and make things easier for their staff, such as through automated systems or sharing patient information between departments. Healthcare professionals didn’t join the field because they love filling out paperwork, they did it because they want to help people. Providing ways for employees to focus on the core responsibilities of their jobs increases efficiency and boosts employee morale, which can encourage great employees to stick around. Removing unnecessary steps in the various processes can also greatly decrease waste within the hospital and lead to increased profits.
Retaining excellent employees is a challenging issue healthcare organizations face today, but it’s not impossible. By ensuring competitive benefits, supporting new hires, offering growth and learning opportunities, and creating efficient processes, hospitals can increase their talent pool and retention. The healthcare industry is continuously changing, and hospitals need to find what works best in their organizations by implementing these strategies and testing the results. Investing in employee retention is not only cost-effective, but it also boosts patient care and outcomes and creates a positive working environment for employees.