The once-future physician shortage has become today’s biggest recruitment obstacle. Healthcare leaders are increasingly understanding that retaining the physicians they already have on staff is just as important as their ability to recruit and hire new ones, if not more so. That said, most physician retention plans — if an organization has one at all — rely on outdated assumptions about what physicians value most and what will make them stay long term. If healthcare leaders hope to improve physician retention rates at their organizations, they will need to let go of past beliefs and allow new research on the clinician workforce to inform their physician retention strategies.
Several recent reports have shed light on the shifting dynamics impacting the physician and provider workforce. A study from LocumTenens.com and Advisory Board, summarized in the report “Survey Insights: What to Know About the Clinician Workforce Today,” found that today’s clinicians are placing more importance on schedule flexibility, work-life balance, and autonomy — challenging long-held assumptions about what keeps healthcare professionals engaged and committed. Another study released this year by Jackson Physician Search and LocumTenens.com, “Is Medicine Still a Calling? Exploring Physician Attitudes About Purpose in Medicine,” found that clinicians with a strong sense of medicine as their “calling” are more likely to stay with their employers.
Both reports shed light on what it takes to retain physicians in the current market, and it’s a significant shift from what leaders have believed in the past. Let’s unpack the most common assumptions and what the new data says instead.
Assumption #1: Job Satisfaction Equals Retention
It seems intuitive that if clinicians are satisfied, they’ll stay in their jobs, but the findings of the LocumTenens.com and Advisory Board survey tell a different story. Nearly three-fourths of clinicians report being satisfied with their current roles. Yet, 28% of those satisfied clinicians are considering switching jobs within the next two years. Overall, 41% of all respondents across age groups and roles are contemplating a move.
Takeaway: Satisfaction is no longer a reliable predictor of retention. Leaders must dig deeper to understand what truly motivates clinicians to stay or causes them to leave.
Assumption #2: Compensation Is the Ultimate Retention Tool
Of course, compensation still matters. In the LocumTenens.com and Advisory Board survey, compensation ranked as the top priority across all clinician types and age groups when selecting a job. But it’s not the whole story.
When considered in aggregate, non-compensation factors like schedule flexibility, work-life balance, time off, malpractice coverage, and good health insurance can outweigh pay alone.
Takeaway: Money talks — especially in the recruitment process — but as it becomes increasingly difficult to outpay competitors, the research suggests that non-compensation factors can and do make up the difference.
Assumption #3: Younger Clinicians Are the Only Retention Risk
It’s tempting to focus retention efforts on early-career physicians. After all, a 2023 joint study by Jackson Physician Search and MGMA found that the average tenure of physicians in their first job is just two years. The new research, however, suggests intent to leave spans all age groups. While half of respondents under 40 say they are considering a job change, one-third of clinicians in their 40s, 50s, and 60s are also planning to leave their current jobs.
Takeaway: Retention strategies must be inclusive of all career stages. Older clinicians, often assumed to be stable, are also likely to seek new opportunities.
Assumption #4: Physicians Want to Work Less
When physicians say they want a better “work-life balance,” it isn’t necessarily code for a desire to work less. The study found many clinicians still prefer a full-time workload, but they want more control over when and how they work. Among respondents, 36% reported having a second job, often as independent contractors. This highlights the growing appeal of locum tenens and per diem work, not just as a stopgap measure, but as a way of customizing one’s schedule. Other options, such as part-time work, job sharing, or creative scheduling (7-on, 7-off), are also becoming increasingly common.
Takeaway: Whether employed full-time, part-time, or as a contractor, clinicians willing to work in any capacity should be welcomed and accommodated. Organizations with flexible staffing plans that are open to unconventional scheduling will earn the loyalty of clinicians with unique scheduling needs.
Assumption #5: Purpose Is an Afterthought
Perhaps the most overlooked retention driver is a clinician’s sense of purpose. According to the “Is Medicine Still a Calling?” report, physicians who feel a strong sense of purpose are more likely to stay with their current employers. They are also likely to report feeling engaged and satisfied in their jobs, leading many to wonder if a strong sense of purpose could be the antidote to burnout. And if so, how can healthcare organizations help clinicians reconnect with their sense of purpose and calling?
Takeaway: Help physicians focus on what matters most: their patients. Minimize administrative burdens and ensure clinicians have 1) adequate time for patient encounters, and 2) the autonomy to make decisions in the best interests of their patients. Physicians are more likely to remain with an employer that empowers them to live out their mission.
What Healthcare Leaders Should Do Next
The data should motivate healthcare leaders to rethink retention, starting with the following:
- Reevaluate your employee value proposition. Job satisfaction is not enough. Understand what motivates clinicians to stay — and what pushes them away.
- Embrace flexibility. Keep an open mind and get creative with scheduling.
- Tailor strategies by career stage. Don’t assume older clinicians are less likely to leave. Find out what motivates clinicians at all stages of their careers.
- Support purpose-driven work. Create environments that empower clinicians to reconnect with their calling and live their purpose.
- Diversify employment models. From part-time and job sharing to locum tenens and per diem, allow physicians to work when and how they want.
- Listen and adapt. Conduct exit interviews, pulse surveys, and focus groups to uncover friction points and opportunities for improvement.
Physician retention isn’t just about keeping clinicians. It’s about creating environments where they thrive. The blanket assumptions that once guided retention strategies can no longer be taken at face value. Job satisfaction doesn’t equate to retention, and compensation will only get you so far. Clinicians of all ages will consider a different job if it offers more of what they need, be it schedule flexibility, autonomy, or purpose alignment. Healthcare leaders must work to understand what clinicians need and then find ways to effectively deliver it. In doing so, they will build long-lasting, dedicated teams that are well-equipped to meet the needs of the community.
If you are seeking a physician or advanced practice provider for your organization, the recruitment team at Jackson Physician Search has the tools and expertise to help you find a provider who will fit, succeed, and stay. Reach out today to learn more.
