A new study by Health eCareers found that nearly one-third of healthcare recruiters in the U.S. rank employee turnover as their greatest staffing concern this year and say hiring the best healthcare employees is only half the battle – once you have them, you need to keep them.
Turnover in hospitals has high numbers and results in high costs in the industry. According to 565 healthcare employer respondents in Health eCareers’ 2015 Healthcare Recruiting Trends Survey, almost 30 percent expect that they will have more job openings in 2015 than last year, and 45 percent expect to have about the same. But 43 percent of respondents say finding qualified talent is their number one obstacle.
Retention is the Solution
Employee retention should be the first line of defense to combat the challenges created by turnover and is a key strategic imperative for 90 percent of hospitals.
“According to the Bureau of Labor and Statistics, the healthcare unemployment rate is 3.5 percent. Many economists feel full healthcare employment is between two and three percent, so this means we are very close to full employment,” says Bill Thomson, a healthcare staffing expert and account representative at Health eCareers.
This finding raises the question: where will healthcare get its new workers?
Thomson says because most healthcare professionals are currently employed, it’s much more effective and efficient to invest in retention than to go out, recruit and train new employees.