Minimizing employee turnover is an important concern for any organization, especially those within the medical field. The high-stress nature of healthcare has made employee retention an ongoing problem for nurses as well as other skilled professionals throughout the healthcare industry. Taking steps to address the problem and adopting a strategy to improve employee retention can be of immense benefit for medical practices, clinics and other healthcare organizations. The following steps can all make a difference for organizations that are struggling to overcome the problems caused by high turnover.
While payroll costs often place considerable strain on operational budgets, providing employees with more competitive salaries and higher hourly wages can often give them an added incentive to stay. Retaining the most talented and experienced employees can be all but impossible for organizations who pay too little. Even a modest raise can be beneficial, especially when dealing with professionals whose motivation to seek out another employer may be based entirely on financial concerns. Higher wages can go a long way towards improving employee satisfaction which in turn will directly benefit retention rates.
Providing Competitive Benefits
A benefits package is a great way for employers who may have only limited funds at their disposal to compensate their workers. There are any number of benefits that employers may be able to arrange for their workers for much less overall cost than they might expect to pay. From providing employees with more flexible scheduling options to business deals with various service providers and packaged deals on any number of services or purchases that employees might not be able to afford on their own, assembling a more attractive benefits package may be a viable option for even the most cash-strapped clinic, practice or organization.
Financial Assistance for Education and Training
Ensuring that workers have access to both the continuing education they need in order to maintain their current licences and certifications as well as classes and training opportunities that may allow them to learn new skills or obtain additional professional qualifications can have numerous advantages. A well trained staff ensures that healthcare businesses and medical organizations are able to provide their patients or clients with a superior standard of care. Employees who are interested in professional advancement and career success are also more likely to remain with employers who are willing to assist them in obtaining the training and education they need in order to fulfill their long-term goals.
The right schedule can be a great asset for workers who are struggling to achieve a better balance between their work and personal life. Schedules that afford workers greater flexibility can go a long way towards improving retention. Long hours, inconvenient shifts or an inability to schedule the time off they need can quickly lead to burnout and higher rates of employee turnover. Providing workers with more control over their schedule or ensuring that they are provided with the options and opportunities that may lead to a superior work-life balance is one of the single most effective ways for employers to improve retention without incurring additional costs.
Room for Advancement
Medical professionals who find themselves locked into a position that offers no possibility for advancement or promotion may soon find themselves looking for a new job. Employers who promote from within the company and structure their organization so that ambitious workers are provided with greater opportunities to advance and succeed are less likely to find themselves dealing with dissatisfied workers, low morale and high rates of turnover. Professional advancement is often of paramount importance to the motivated employees and dedicated workers who are most likely to be of benefit to their employer.
Formulating the Right Strategy
Organizations within the healthcare industry can differ tremendously in terms of their size, situation and needs. A strategy that may allow a nonprofit clinic to improve retention among their volunteer staff may be of little benefit to private practices seeking to minimize turnover among their employees. Organizations seeking to shore-up morale, improve worker satisfaction and avoid the problems caused by high turnover would do well to first assess their situation in order to determine which efforts and strategies are most likely to provide them with superior results.