Healthcare Sector Trends: More Job Opportunities
By Katie Wike, contributing writer
Survey shows healthcare systems have more employment opportunities than ever, leading to an increase in voluntary turnover
The 2013/2014 Human Capital Effectiveness Report: Trends for the Healthcare Provider Sector compiled by PwC Saratoga notes, “As healthcare systems face increasing challenges related to implementation of the Affordable Care Act, talent will be a large focus to keep expenditures low and productivity high. HR will need to work to engage and retain their key employees – high performers and those within pivotal roles – to help brace for these changes.”
The report indicates this will be difficult in an improving economy where “employees are reacting to more job opportunities in the market, resulting in increased voluntary turnover. This is also seen among key healthcare roles, such as physicians, bedside nurses, and bedside nurse managers.”
According to the report, voluntary turnover is now at 9.5 percent within the healthcare provider sector and it is “important for organizations to understand the primary drivers of engagement and turnover in an effort to minimize the costly consequences of losing talent.”
Jill Benware, Market Research Analyst, API Healthcare, analyzed the report for Health IT Outcomes, writing, “While some turnover is healthy, too much turnover can cripple your organization.” Benware further advises the key to retaining employees is to make them feel like they are involved in an organization that values them because “no matter how large or small the organization may be (employees) will be happier, more productive, and less likely to job hunt. In other words, they will be a valued asset for years to come.”
Benware suggests several ways an organization can to slow turnover, including:
- “Understand, recognize, and acknowledge employees’ needs.
- Help employees understand how their role is connected to the mission and vision of the organization.
- Develop an environment that encourages respect and collaboration across the organization.”
And should you think voluntary turnover isn’t a problem you could be facing, consider the results of a Harris Interactive survey - linked to from the Robert Wood Johnson Foundation’s website - which shows, “One in three health care workers say they are likely to look for a new job in the next 12 months” and “54 percent of healthcare workers believe they could find a new job in the next 12 months.”