Olivier Le Moal/Attract new talents
By Tony Stajduhar
President, Jackson Physician Search
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Sir Richard Branson has famously said, "Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients."
Attracting — and retaining — top talent is on the minds of every business leader I know, and the reality of a tough marketplace for hiring is borne out in the data. As recently as August 2022, reports told us there were two job openings for every person unemployed, which indicates there is a "persistently strong demand for labor." Lots of shifts in how people feel about work were prompted by the pandemic, and as that converges with economic concerns, it's likely that the world of work will remain in flux in the coming year.
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In my business — the business of physician recruiting — we are not strangers to these phenomena. Physician shortages span decades, in part due to a complicated formula that dictates our capacity for residency that has not been revised adequately enough to create a robust line of medical professionals in our country. If you've been sick, or even just tried to visit your doctor for a well-check, you may have noticed that wait times for appointments are longer than they have ever been.
And it's not just hard to find talent, it's also hard to find the people to recruit the best people, and that impacts not just your ability to serve your existing customers and market, it also means you sometimes have to make tough decisions about growth and staying competitive. Ultimately, talent shortages can increase the risk that your team will experience burnout and that you'll have higher turnover. It's a lot.
The good news is that we have learned that the same things that medical groups, hospitals and other types of healthcare organizations can do to build culture can also make it easier to attract and retain talent — and can ease burnout and lessen turnover.
A note about culture: Your business has a culture, regardless of whether it has been intentionally nurtured or developed organically. To get insights into the effectiveness of your culture — or even just to begin to define it if you haven't already — there are a few key things you can do to both improve your culture and increase your ability to attract and retain talent.
Open the Lines of Communication
Especially during challenging periods of time, it's more important than ever to be an active listener who regularly gives employees a chance to be heard. We frequently survey physicians, and two-way communication is consistently ranked as the number one driver of their own job satisfaction—it's likely that's true for your team, too.
A new approach that is growing in popularity among business owners is the "stay" interview. It's exactly what it sounds like—a conversation that you initiate with your employees to take the temperature of their job satisfaction. The Society for Human Resource Management offers tips for how to structure this informal conversation to improve trust between you and your team.
Reward and Recognize Your Team
We know from our work with physicians that additional compensation is most of the time (89% of the time) very or somewhat important to job satisfaction. We also know that many times, the amount that you pay in bonuses or increases may not be as important as the recognition itself — so don't hesitate to offer more money, even if you think it's not a lot.
Consider also that there are other ways to recognize the efforts of your team. Physicians have told us that time off, paid sabbaticals, and reduced calls are all ways to improve job satisfaction. Can you find non-monetary rewards and recognitions that will motivate your team?
Consider What You Can Take Off Your Employees' Plates
Physicians absolutely hate paperwork, especially when they consider it to be an undue administrative burden; 72% of physicians in a recent survey said reducing the administrative burden in their jobs was very or somewhat important to improving satisfaction. Inviting your employees into the process of reducing the less desirable aspects of their work is one way to generate good ideas, improve trust and communication, and eventually, make your business more efficient.
Consider a Formal Retention Plan
Regardless of how small or large your company is, you can benefit from creating a retention plan that starts with onboarding and provides a clear path to reward, recognition, and leadership opportunities.
Recruit Support for Your Front-line Employees
When physicians are stretched thin, the most helpful thing healthcare administrators can do may be to hire providers who can support the team. Whether that means rounding out the care team with advanced practice providers or recruiting additional physicians, a staffing plan that grows with your business can help ensure that your best talent stays.
In the race to recruit more staff, it's easy to lose sight of those who are already in service to your organization. As you look to a new year, don't miss the opportunity to address the circumstances of your current team.
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