4 Strategies to Improve Healthcare Staff Retention
The healthcare sector—which is still recovering from the aftermath of the 2020 pandemic—is now experiencing “The Great Resignation.” It is one of those few industries that has been hit the hardest by the mass exodus of unsatisfied workers. Nearly 1.7 million staff quit their healthcare jobs in 2022. Mounting burnout and stress are two driving factors of The Great Resignation. Lack of reward, inequality, and discrimination are other factors. The financial impact of this turnover is substantial. In 2022, the cost of a registered nurse turnover alone, on average, was $52,350.
Healthcare providers must, therefore, deploy strategies that can help them retain employees. Or, the consequences can be dire: you might go out of business. In this article, we’ll discuss several strategies that will help you reduce turnover rates and improve retention rates.
#1 Offer Competitive Compensation and Benefits
Money talks when it comes to job-related decisions. Fifty-nine percent of the participants in a recent poll agreed that an increase in salary is the most effective tool for retaining top talent. It’s time to revamp your compensation package and offer competitive wages to your healthcare staff.
When you determine a market-competitive salary, think beyond the dollars that go out with every paycheck. You must include plenty of paid time off for vacations, holidays, and sick days. Consider offering medical, dental, and vision insurance to your employees. You can further make the compensation package attractive by sponsoring a retirement savings plan like 401(k). Make contributions to it if possible.
Sweeten the deal further by throwing in perks like tuition reimbursement, professional development opportunities, and wellness programs. Your employees will feel valued, which will improve retention rates.
Oh, and don’t skimp on those annual raises, either. That pay increase is more than just a nice gesture; it demonstrates that you value your employees.
#2 Implement a Zero-Tolerance Policy for Workplace Violence
No business, including healthcare, is immune to workplace violence. About one in five healthcare workers experience physical abuse. Bullying and verbal abuse are the most common types of workplace violence, followed by sexual harassment for female clinicians.
Warning signs of workplace violence include changes in employees’ behavior, unusual fascination with weapons or violence, verbal threats, and persistent conflicts. Don’t ignore these signs if you notice them because they are early indicators that something isn’t right.
Designing a zero-tolerance policy for workplace violence is crucial to ensure the safety and well-being of healthcare staff. Conn Maciel Carey LLP advises businesses to establish explicit policies and procedures for preventing and responding to workplace violence.
Outline clear expectations, but also the consequences for any form of violence, including threats, verbal abuse, and physical assault. You must also train your staff to recognize warning signs and teach them de-escalation techniques.
Implement security measures such as panic buttons and surveillance systems to create a safe environment. You must also extend support to victims of violence through counseling and legal assistance.
When you successfully create a supportive environment where your staff feels protected, they will be empowered to deliver quality care without fear of violence. This will improve retention rates.
#3 Ease the Burden of Paperwork on Care Providers
Sure, doctors and nurses have handled paperwork manually for ages. But just because it’s been done that way for ages doesn’t mean it’s the best way.
Healthcare workers across all roles spend an average of 3.2 hours per week on clinical documentation in their spare time. Consultant doctors, however, spend a bit more, about 4.7 hours on average. Embrace digital solutions to ease the burden of paperwork on care providers.
Think about it: manual paperwork is time-consuming and is also prone to errors. But if you utilize technology, you can streamline and automate tasks that eat up your healthcare providers’ personal time. Besides saving their precious time, the likelihood of errors will be minimized.
There are many solutions that you can adopt to streamline your tasks. However, the two most important ones are medical billing software and electronic health record (EHR) systems. Integrating these into your healthcare business will free your staff from mundane tasks, allowing them to focus on patient care. Ultimately, this will improve retention rates
#4 Adopt Programs That Support Employee Health
Working in healthcare is demanding. Employees tend to neglect their health and well-being while focusing on patient care. That is why taking care of your staff is important.
Provide your team access to wellness initiatives like fitness classes, health screenings, and nutrition programs. Besides promoting physical health, these foster a sense of community among the team.
Don’t forget about mental health support. Offer counseling services, stress management workshops, and mindfulness training so that your employees can navigate the emotional challenges of their roles with ease.
Investing in employee health programs will result in happy, healthy employees. That means they will be more productive, engaged, and likely to stick around for a long time.
To sum things up, retaining employees in your healthcare business might seem like a challenge. But it’s important for maintaining the quality of patient care. These tips will help you maximize employee retention while minimizing employee turnout. Consider adopting them. Rest assured that you will be able to create a more supportive and fulfilling work environment for your employees.
