Welcome to “Pain Points,” a newsletter from Solvent Networks intended to discuss the problems that keep hospital leaders up at night and inform them about programs, services and products offered by our endorsed business partners that can help. We tackle pain points and present ready-to-deploy solutions.
How can we avoid getting into bidding wars for physicians?
Here are 5 tips from the pros at Jackson Physician Search.
Even before the pandemic, physician recruitment was a constant challenge for hospitals as demand usually outstripped supply. Two years on the COVID-19 front line has made it worse, increasing burnout, early retirements and career choices outside of hospitals.
Jackson Physician Search, a Solvent Networks endorsed workforce partner, is busier than ever, with a record number of new customers and longstanding clients increasing their volume of searches.
As is the case in many industries now, the pandemic has shifted the healthcare labor situation in favor of job-seekers. Hospitals are having to offer more competitive offers, sometimes above industry standards. For some hospitals, that’s not sustainable – or even an option.
Based on trends they’re seeing in the job market, recruitment executives at Jackson recently offered recommendations about ways to draw talent without wrecking the budget.
- Increase focus on quality-of-life. While compensation is always a major factor, many physicians now place more value on work-life balance, which might mean a four-day work week, minimal or no call, or telehealth work opportunities.
- Rethink the ratio of compensation to productivity to a model that offers more job security. When clinics shut down and elective procedures were put on hold, doctors were left with little control over their productivity. As a result, some are looking for a better balance of quality and productivity metrics in compensation plans.
- Shore up salary packages with incentives that can be funded with one-time revenue, such as signing bonuses, relocation assistance or loan repayment.
- Advertise your commitment to community health. Many doctors are more driven than ever to address health disparities brought into the spotlight by the pandemic. They may be drawn to a hospital with a robust population health strategy, paid time off for volunteer or mission work, and commitment to equity.
- Let candidates know about your long-term, post-pandemic plans and what those plans could mean in terms of their future career opportunities.
Every search – like every physician – is different. Jackson Physician Search specializes in tailoring their recruitment process to bring you the best candidates for your facilities. To set up a meeting, contact Joe Spivey, director of client services, at email@example.com or (678) 501-2421 or contact Kristin Hill, manager of business development at Solvent Networks, via firstname.lastname@example.org today.
As a division of the South Carolina Hospital Association, we understand the hospital business. Our ready-to-deploy solutions for your workforce, financial, operational and compliance needs can save money on your bottom line – or generate revenue that you can re-invest in improving healthcare for the people of South Carolina. For more information, visit Solvent Networks, follow us on LinkedIn or watch HERE. Access your network today.