Healthcare Retention

August 10, 2021

The World Health Organization (WHO) predicts a worldwide shortage of 14.5 million healthcare workers by 2030.

According to DailyPay, “The turnover rate in the health care industry has risen nearly 5% — across all jobs in the industry — over the last decade….since 2015, the average hospital turned over 89% of its workforce. Market analysts say that health care’s turnover is second worst, only to hospitality.

Turnover impacts quality care and customer service, but also results in high costs for healthcare organizations, affecting:

  • Overtime
  • New talent recruitment
  • Training and onboarding
  • Accident rates
  • Absenteeism

The COVID-19 pandemic has exasperated the challenge as healthcare workers are overworked, experiencing higher rates of stress, and exposure to health problems for themselves and their families.

In order to address the workforce crisis, employers have to increase engagement with employees. DailyPay shares the first way to do this is to ask for feedback, “To offer an enhanced employee experience, facilities must get to the core of what their staff wants from an employer, whether it be financial wellness, workplace flexibility, or otherwise. Listening to employee’s feedback is a key ingredient for successful recruiting, retention and employee engagement.

With the Truvelop app, managers can create surveys, use employee assessments to engage employees in conversations regarding challenges that may be impacting their work, and recognize employees with a Spark or a note of encouragement.

The American Society for Health Care Human Resources Administration recommends that leaders reconsider policies related to attendance, schedules and productivity metrics to accommodate the heavy burden healthcare workers are experiencing due to the pandemic. This approach can show good-faith efforts so that employees know they are heard and their challenges are being addressed.

If nothing else, through the pandemic employers have learned the importance of agility and adaptation. The way we work has had to change to adjust to the restrictions and protections needed to safely navigate this worldwide health crisis.

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