How to Recruit and Retain Top Talent in The Healthcare Industry

There’s no question that healthcare workers are as important as ever. As the entire world grapples with the COVID-19 pandemic, healthcare workers have taken center stage in the battle to save lives and prevent further infections. With such a demand for healthcare, it’s little surprise that many healthcare employers struggle to recruit and retain top talent.

From critical roles like nurses, pharmacists, doctors, technicians to administrative positions like patient check-in and billing, consider these leading human resources trends to recruit and retain top talent in the healthcare industry.

Empower financial wellness

When your staff is working with patients, they must show up to work focused and well-rested, but that’s tough for the millions of workers who live paycheck-to-paycheck and struggle with financial skills like budgeting, debt management, and saving for the future. According to a CareerBuilder survey, 78% of U.S. workers live paycheck to paycheck, including 9% of those who earn a six-figure income.

Employers are in a unique position to help employees overcome financial stress, which often harms workplace performance and leads to increased absenteeism. You can encourage employee financial wellness through training classes, education resources, and partnerships with quality companies that offer retirement and other financial services to your staff.

One great way to promote financial health at virtually no cost to your company is the Payactiv benefit. Payactiv includes Earned Wage Access (EWA), where workers can access a portion of their earned income before payday for a $0 to $5 fee, depending on the employer program, per bi-weekly use. Payactiv also includes financial tools, education resources, and financial coaching at no extra cost.

Learn more: Read our 2019 annual impact report where we share how Payactiv measurably reduces employee turnover.

Offer top-tier health and wellness benefits

If there’s one area most healthcare workers don’t need extra education, it’s taking care of their own health. But that doesn’t mean you can’t offer a top-tier benefits package that keeps your workers healthy and engaged with your brand.

In addition to quality health, dental, and vision insurance, consider perks like gym memberships or subsidies, no-cost biometric screening, annual flu shot clinics, and occasional friendly competitions that reward those who take care of their health.

As an added benefit, many health and wellness programs lead to lower employer healthcare costs over time. According to research from RAND Corporation, disease management programs offer outsized results compared to lifestyle management programs. On average, employers can count on a return of $1.50 for every $1 invested in healthcare wellness programs.

Read More: How to Retain Employees – A Healthcare Sector Case Study

Build relationships with universities and training programs

As with many industries, healthcare is facing a difficult situation when it comes to maintaining staff levels. An aging population that requires more care and retiring baby boomers are two factors in a nationwide shortage of doctors, nurses, and other healthcare staff.

Even if you’re not looking to hire today, healthy relationships with local universities and healthcare training programs can offer a long-term pipeline of new workers. These relationships offer a win-win for educators and healthcare organizations, as job placement opportunities are a big selling point for healthcare training programs. Job fairs, meet-and-greet events, internships, job shadowing, and mentorship programs enhance relationships with local schools and may even directly lead to new hires.

Show your team you care

In an era where workers can job hunt on their smartphones during lunch breaks, it’s important to build employee loyalty so you can recruit and retain an all-star healthcare staff. To stay competitive in the modern work environment, that means offering a comprehensive benefits package that includes your worker’s financial health.

When you work together to promote the best employee experience for your valued team, you should find a mutually beneficial result. Happy and loyal workers are most likely to stick around, buy into your company culture, and work hard every day to care for patients while reaching for a profitable bottom line. That’s what success in healthcare staffing is all about.

Holistic Financial Wellness

Learn how PayActiv measurably reduces employee financial stress and employee turnover.

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Access is more than a paycheck.
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Access is more than a paycheck. It's peace of mind.

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