If you are working on your 2021 Staffing Plan and want to ensure your organization’s success, consider these three factors: the current state-of-the-market, retaining physicians, and planning for retirements. We dive into each in this helpful Infographic Guide.
1. Recruitment
- With 7% annual turnover, 50,000 physicians will accept new positions each year
- It takes 6-9+ months to recruit most specialties, plus it can easily reach $1 million in lost revenue per vacancy
- Low supply and high demand: to succeed, you must reach both active and passive candidates
- Only 11% of doctors are actively seeking new jobs
- 76% are passively looking
- How can you get their attention?
- Craft an agile and strategic digital recruiting process
- Job Boards: Cast a wide net with job posts and search for resumes.
- Email: Build an opted-in, engaged database and target ideal candidates with job ads and valuable content.
- Social Media: 80% of doctors claimed their Doximity profile, making it an excellent source. LinkedIn can be effective, too.
- Beware: Your content must be relevant
- 50% of physicians report that less than 10% of communications from recruiters are relevant.
- Craft an agile and strategic digital recruiting process
- No direct mail. There are no metrics to prove ROI, you can’t adjust messaging, and you won’t even know if it was delivered.
2. Retention
- Hire for cultural fit to increase retention
- Favorable workplace culture results in:
- 33% improvement in quality
- 41% reduction in absenteeism
- 50% drop in patient safety accidents
- To physicians, culture and engagement are more important than money
- Highlight organizational culture at the on-site interview
- Remember the acronym: SALE
- Sell the community as well as the opportunity
- Assemble your “A” team
- Leave no questions unanswered
- Engender feelings of excitement and a sense of being welcomed
3. Retirement
- More than 30% of physicians are at or near retirement age
- Whose responsibility is it to initiate the retirement conversation?
- 81% of physicians think it is their responsibility, but they are less comfortable having the discussion
- 33% of administrators believe that it is theirs
- Physicians feel that 3-6 months is enough notice, but administrators want 1-3 years
- Retain end of career physicians
- Did you know? 28% of physicians don’t plan to retire fully
- Introduce reduced schedule options for physicians who wish to stay part time
