Right person, right place

The right people in the right positions can make all the difference when it comes to creating a positive client and patient experience but also when it comes to internal culture. Attracting and retaining those top-notch employees is a challenge in this changing workforce.

Unemployment is high but steadily dropping due to the waning pandemic. In the 2022 post-COVID era, employers and employees have changed the way they view each other in the workforce. We have witnessed double-digit percentages in wage growth for entry-level positions.

We have more open positions now and find it tougher to get qualified employees. Demands have changed from employees who have experienced working from home and found a new level of work/life balance.

The staffing shortage is having a residual effect on employees who take on an increased workload causing burnout. Leaders are scrambling to find employees to fill positions and get them onboarded.

Mental health issues have risen among employees forcing some to leave the workforce to focus on their health.

Even employers with remote workers are needing to reach out to help provide support for employees who are lonely and facing depression/anxiety.

In healthcare, burnout is palpable from overworked and tired clinical staff trying to maintain a physical presence to support and help those in the community who need care.

Add to it the generational shift. Baby Boomers are retiring (some earlier than expected due to COVID) and the Millennial workforce continues to grow. Add to that the ushering in of Gen Z and the landscape of hiring and retaining employees begins to shift.

4 reasons for employee turnover

So, what are the potential reasons for staff and employee turnover?

1. Employees leave for other/better opportunities: Employees might be looking out for other opportunities to they believe will further their careers.
2. Employees become unhappy with their current employer/position:  Potentially due to lack of engagement or lack of growth opportunities, not feeling as if they are part of something bigger, or feeling like they don’t have any power over how they do their job
3. Daycare is hard to find:  Daycare providers cannot find qualified caregivers, and working parents are now unable to afford to go back to work full-time and/or find care for their children so they are forced to look for flexibility in their work allowing them to be at home with their children
4. Personal health reasons: An increase in employee care for a family member, (either in or out of State) or personal health reasons.

The facts speak for themselves.

We have a tired workforce, burned out and seeking flexibility. They are suffering fatigue in every way. The workforce is restless and seeking a way to support themselves and their families in a way that keeps them safe while feeding the need to do a job that is rewarding and impacts the greater good. Employees are willing to start at the bottom but want a quick path to grow in both income and responsibility. This is a byproduct of the generational shift from Millennial and Gen Z employees entering the workforce.

That leaves employers in a position to act and ensure they have appropriate strategies to attract and retain qualified staff. Save both time and money by instead looking to retain those high-quality employees.

4 tips to attract and retain employees

1. Highlight the value of their role:  Paint a bigger picture as people want to know that they contribute to the greater good. A quick example: instead of saying “I’m a biller” they can share – “I ensure that healthcare providers can serve the community by submitting accurate claims to payers.”
2. Provide flexibility: Be flexible about where and when employees can work. Can you provide flex-time options for revenue cycle employees? Some need to work 9-5 but could you perhaps set up a shift from 5-9 p.m. and another from 6-10 a.m.? We are considering using part-time employees to help us with full-time positions. What do your employees desire as far as flexibility goes? Can they work remotely?
3. Look for additional benefits: Work with employees to create a more well-rounded compensation and benefits package. Gone are the days when medical insurance and a 401k were enough. Employees want to see Child Care, Mental Health assistance, and personal development stipends to name a few, as part of a more inclusive benefits package.
4. Appeal to the next generation: The younger generation is more culturally aware. They value diversity in many areas and want a position that enhances the greater good. Additionally, most millennials are out of school currently or graduating and are seeking positions that allow them to grow in responsibility and income more quickly. Define a growth path within your organization that resonates with this next generation.

When combined these tips can help your organization define a culture based on the needs of your employees—facilitating a more fulfilling sense of self that will allow you to hire and retain more high-quality employees.