Modern day healthcare facilities are faced with a number of struggles. They have to manage the daily challenges posed by a growing patient population and increased demand for inpatient healthcare services, along with an increase in employee turnover. As Gina Temple says, modern hospitals need a disciplined management system and a robust employee retention strategy. Strategically recruiting and transitioning staff, investing in training and development, and more play an important role in employee retention in healthcare.
Gina Temple underlines a few valuable strategies for improving employee retention in healthcare
There are numerous reasons why people decide to pursue a career in healthcare, starting from getting the rewarding opportunity to make a real difference in other’s lives to enjoying a good pay. However, even with the associated benefits, employee retention in healthcare is a huge concern and can majorly impact the overall quality of patient care. A good amount of healthcare staff, including registered nurses and physician assistants, often have to work long hours owing to staff shortages. There are many factors that lead to high employee turnover in healthcare like burnout, lack of appreciation and dissatisfaction with workplace culture.
Here are a few strategies for improving employee retention in healthcare:
- Provide competitive salaries and annual raises: Competitive salaries are important to attracting quality candidates in all industries, including healthcare. Moreover, they also deter current workers from looking around for similar positions that have a higher pay. A competitive salary for a position would rely on multiple factors, including position, location and average salaries. Apart from a competitive salary, annual raises also provide employees with a strong financial incentive to stay. Salary hikes are also a good way to show the employees that their hard work is appreciated.
- Provide bonuses: Bonuses are also a good financial incentive for employees. There are many types of bonuses that are provided to the employees to encourage them to work hard and stay committed to the healthcare organization. Sign-on Bonuses, for instance, are quite common in the nursing field and are offered to employees who accept a job offer. Performance Bonuses, on the other hand, are provided to employees based on their performance. Holiday Bonuses can also be given to the employees during the holiday season in the winter, in order to boost employee morale and recognize hard work.
- Provide valuable benefits: All employees highly appreciate benefits like retirement plans, health insurance, vision and dental coverage, and paid time off. Such perks go a long way in enhancing workplace satisfaction and the overall quality of life of the employees. To set their healthcare facility apart, one may even choose to offer distinctive benefits such as pet insurance or assistance with student loan payments. Moreover, providing resources like mental health support and burnout prevention workshops can be incredibly valuable for employees, given the demanding and often stressful nature of healthcare roles.
As Gina Temple says, beyond following the strategies mentioned, providing training and education opportunities to employees can also act as an incentive for employees to stay with a healthcare organization. Broadly speaking, maintaining a holistic approach toward employee retention is important to tackle rising turnover rates in healthcare.
