Health care is in the midst of another labor shortage. Vacancies are on the rise and demand for health care talent will continue to increase over the next decade.
To win talent in today's competitive labor market, organizations must revamp their recruiting playbook to be candidate-centric—rather than employer-centric. Follow the 12 best practices detailed in this study to win a greater share of talent.
Health care entering a labor shortage
All signs point to an emerging national labor shortage. Our benchmarks show that the trend for median health care vacancy rates has been steadily increasing over the past six years, reaching a high of 6.2% in 2015. While health care organizations are struggling to fill today’s open positions, future projections confirm that the market will only become more competitive. The Bureau of Labor Statistics projects that one in four new jobs in the next decade will be in health care.
Recruiting playbook from the last shortage no longer sufficient
Health care leaders are investing more in recruitment just to keep up—paying more for sign-on bonuses, search firms, and premium labor. Unfortunately, these reactive tactics aren’t paying off. Time-to-fill and first year turnover are trending in the wrong direction. Since 2013, time-to-fill increased by four days and the proportion of turnover due to first-year departures increased by 28%.
Most recruiting playbooks don’t account for two major trends reshaping health care recruiting:
- The competition is stiff. Not only are new competitors like retail clinics competing for the same talent, but new care models are also shifting demand for certain roles like medical assistants.
- Technology has disrupted the recruiting process. Online applications make applying faster but less personal, and social media sites like Glassdoor and Facebook allow two-way assessment: candidates can judge us before we evaluate them.
These shifts require a new recruiting playbook based on two key principles. First, you must shift from an employer-centric to a candidate-centric recruiting experience.
Two strikingly different candidate experiences
Second, you need to broaden your focus to passive candidates who are currently employed elsewhere. Data suggests they are open to exploring opportunities, but winning them over requires a different approach than winning active job seekers.
The strategies below offer a framework to help you find and win talent amid a labor shortage.
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