1
00:00:00,000 --> 00:00:03,206
[BRIGHT MUSIC]

2
00:00:03,206 --> 00:00:04,580


3
00:00:04,580 --> 00:00:07,370
Today we're diving deep into
the world of healthcare employee

4
00:00:07,370 --> 00:00:08,240
retention.

5
00:00:08,240 --> 00:00:09,740
If you're in the
healthcare industry

6
00:00:09,740 --> 00:00:12,450
or just interested in the
fascinating world of medicine,

7
00:00:12,450 --> 00:00:13,530
you're in for a treat.

8
00:00:13,530 --> 00:00:14,490
Hi, I'm Lauren.

9
00:00:14,490 --> 00:00:16,290
I'm the head of
communications at Compt.

10
00:00:16,290 --> 00:00:17,340
Let's dive in.

11
00:00:17,340 --> 00:00:20,420
Healthcare, it's a field
where every moment counts

12
00:00:20,420 --> 00:00:24,000
and high turnover rates are
a challenge we can't ignore.

13
00:00:24,000 --> 00:00:27,260
Stick with us as we uncover the
six essential strategies that

14
00:00:27,260 --> 00:00:30,900
can skyrocket your healthcare
employee retention rates.

15
00:00:30,900 --> 00:00:34,350
But first, let's take a
quick peek at the numbers.

16
00:00:34,350 --> 00:00:37,640
Between 2016 and 2020,
healthcare employee turnover

17
00:00:37,640 --> 00:00:41,520
soared from 32% to
a staggering 45%.

18
00:00:41,520 --> 00:00:44,420
In the blink of an eye, the
industry waved goodbye to around

19
00:00:44,420 --> 00:00:47,780
460,000 valuable workers.

20
00:00:47,780 --> 00:00:49,520
The current hospital
turnover rate

21
00:00:49,520 --> 00:00:55,470
stands at 22.7%, which is 3.2%
lower than it was in 2021,

22
00:00:55,470 --> 00:00:57,530
and the registered
nurse turnover rate

23
00:00:57,530 --> 00:01:02,630
is about the same with a
4.6% decrease from 2021.

24
00:01:02,630 --> 00:01:03,890
But don't be fooled.

25
00:01:03,890 --> 00:01:06,710
The road ahead is not
without its challenges.

26
00:01:06,710 --> 00:01:10,270
By 2030, a staggering 15
million health care workers

27
00:01:10,270 --> 00:01:12,020
will be needed to fill the gap.

28
00:01:12,020 --> 00:01:13,850
Why the shortage, you ask?

29
00:01:13,850 --> 00:01:16,360
Demographics, increased
demand, a surge

30
00:01:16,360 --> 00:01:18,380
in patients with
chronic illnesses.

31
00:01:18,380 --> 00:01:21,200
Those have all contributed
to this perfect storm.

32
00:01:21,200 --> 00:01:23,420
But it's not just
about the numbers.

33
00:01:23,420 --> 00:01:26,270
The health care workforce
faces unique challenges.

34
00:01:26,270 --> 00:01:28,840
The pressure to deliver
quality patient care, combined

35
00:01:28,840 --> 00:01:31,280
with the complex nature
of medical procedures

36
00:01:31,280 --> 00:01:33,580
requires a blend of
technical expertise

37
00:01:33,580 --> 00:01:35,510
and genuine compassion.

38
00:01:35,510 --> 00:01:39,050
So how can healthcare
organizations combat this tide?

39
00:01:39,050 --> 00:01:42,640
First, let's discuss the four
pillars of workforce management

40
00:01:42,640 --> 00:01:44,570
for healthcare organizations.

41
00:01:44,570 --> 00:01:46,490
Pillar number one, planning.

42
00:01:46,490 --> 00:01:48,680
In the unpredictable
world of healthcare,

43
00:01:48,680 --> 00:01:51,590
having a staffing strategy
in place is crucial.

44
00:01:51,590 --> 00:01:53,890
Anticipating patient
volume fluctuations

45
00:01:53,890 --> 00:01:55,990
and being prepared for
last minute changes

46
00:01:55,990 --> 00:01:57,110
is the name of the game.

47
00:01:57,110 --> 00:02:00,050
Healthcare management software
can be your best friend here,

48
00:02:00,050 --> 00:02:03,470
predicting future organizational
needs based on historical data.

49
00:02:03,470 --> 00:02:05,450
Next up, we've got scheduling.

50
00:02:05,450 --> 00:02:08,530
Healthcare professionals
deserve work-life balance too.

51
00:02:08,530 --> 00:02:11,390
Optimizing shifts based
on patient volume trends

52
00:02:11,390 --> 00:02:14,510
and offering flexible scheduling
options can work wonders.

53
00:02:14,510 --> 00:02:17,060
Imagine having control
over when you work,

54
00:02:17,060 --> 00:02:20,210
reducing social jet lag
and boosting morale.

55
00:02:20,210 --> 00:02:21,050
It's a win-win.

56
00:02:21,050 --> 00:02:23,990
Now let's tackle pillar
number three, follow up.

57
00:02:23,990 --> 00:02:26,110
Continuously measuring
scheduling outcomes

58
00:02:26,110 --> 00:02:28,940
and gathering employee
feedback is essential.

59
00:02:28,940 --> 00:02:31,880
Keep an eye on burnout
levels, job satisfaction,

60
00:02:31,880 --> 00:02:32,960
and engagement.

61
00:02:32,960 --> 00:02:36,640
A happy employee is
a loyal employee.

62
00:02:36,640 --> 00:02:38,650
Lastly, employee engagement.

63
00:02:38,650 --> 00:02:41,170
Creating an environment where
healthcare professionals feel

64
00:02:41,170 --> 00:02:44,630
valued and recognized is
key to retaining top talent.

65
00:02:44,630 --> 00:02:47,270
From performance coaching
to professional development,

66
00:02:47,270 --> 00:02:49,910
a well-balanced approach
is the secret sauce.

67
00:02:49,910 --> 00:02:51,740
But wait, we're not done yet.

68
00:02:51,740 --> 00:02:54,100
Here are the six employee
retention strategies

69
00:02:54,100 --> 00:02:55,400
you've been waiting for.

70
00:02:55,400 --> 00:02:57,210
First up, strategy number one.

71
00:02:57,210 --> 00:02:58,810
Offer student loan repayment.

72
00:02:58,810 --> 00:03:01,750
Healthcare grads often
carry heavy debt loads.

73
00:03:01,750 --> 00:03:03,420
Helping them with
student loan repayment

74
00:03:03,420 --> 00:03:05,260
is a gesture that
goes a long way.

75
00:03:05,260 --> 00:03:08,040
Less financial stress means
happier and more engaged

76
00:03:08,040 --> 00:03:08,920
employees.

77
00:03:08,920 --> 00:03:10,210
Strategy number two.

78
00:03:10,210 --> 00:03:11,290
On demand pay.

79
00:03:11,290 --> 00:03:13,360
Offering competitive
pay is essential,

80
00:03:13,360 --> 00:03:16,290
but sweetening the deal
with on demand pay, bonuses,

81
00:03:16,290 --> 00:03:18,490
and unique perks takes
it to the next level.

82
00:03:18,490 --> 00:03:21,090
Imagine being able to access
a portion of your paycheck

83
00:03:21,090 --> 00:03:23,640
instantly or
receiving spot bonuses

84
00:03:23,640 --> 00:03:25,240
for outstanding performance.

85
00:03:25,240 --> 00:03:28,920
Now that's a workplace where
you're truly appreciated.

86
00:03:28,920 --> 00:03:31,260
Speaking of perks, let's
explore strategy number

87
00:03:31,260 --> 00:03:33,180
three, flexible
benefits and perks.

88
00:03:33,180 --> 00:03:36,490
From commuter benefits to
mental health subsidies,

89
00:03:36,490 --> 00:03:38,640
these extras can make
a world of difference

90
00:03:38,640 --> 00:03:40,980
in your healthcare heroes lives.

91
00:03:40,980 --> 00:03:43,450
Strategy number four,
flexible scheduling.

92
00:03:43,450 --> 00:03:46,690
Balancing the demands of
healthcare with rest is vital.

93
00:03:46,690 --> 00:03:49,770
Unique strategies like staggered
shifts and adaptable work

94
00:03:49,770 --> 00:03:52,440
durations can ensure that
healthcare workers have

95
00:03:52,440 --> 00:03:54,340
the time they need to recharge.

96
00:03:54,340 --> 00:03:58,295
Strategy number five, improving
recruiting and onboarding.

97
00:03:58,295 --> 00:03:59,670
Getting the right
people on board

98
00:03:59,670 --> 00:04:01,750
sets the stage for
long term success.

99
00:04:01,750 --> 00:04:04,420
From sign on bonuses
to mentorship programs,

100
00:04:04,420 --> 00:04:06,660
creating an environment
where new hires feel valued

101
00:04:06,660 --> 00:04:08,230
and supported is the way to go.

102
00:04:08,230 --> 00:04:10,860
Last but not least,
strategy number six,

103
00:04:10,860 --> 00:04:13,180
encourage continuing education.

104
00:04:13,180 --> 00:04:15,480
Investing in your healthcare
professional's growth

105
00:04:15,480 --> 00:04:17,410
pays off in more ways than one.

106
00:04:17,410 --> 00:04:20,644
From tuition reimbursement to
sponsorships for conferences,

107
00:04:20,644 --> 00:04:22,019
supporting their
learning journey

108
00:04:22,019 --> 00:04:24,160
keeps them engaged
and motivated.

109
00:04:24,160 --> 00:04:26,770
With this video, we're just
scratching the surface.

110
00:04:26,770 --> 00:04:29,806
Check out our full guide at
compt.io/healthcare employee

111
00:04:29,806 --> 00:04:32,730
retention, or skip the reading
and chat with an employee

112
00:04:32,730 --> 00:04:34,960
benefits program
expert at Compt now.

113
00:04:34,960 --> 00:04:36,510
Compt is your
all-in-one solution

114
00:04:36,510 --> 00:04:38,640
to boost employee
engagement and streamline

115
00:04:38,640 --> 00:04:40,090
benefits administration.

116
00:04:40,090 --> 00:04:42,310
With Compt, you can reward
your healthcare heroes,

117
00:04:42,310 --> 00:04:44,060
create an environment
they'll thrive in

118
00:04:44,060 --> 00:04:46,060
and take the stress out
of benefits management.

119
00:04:46,060 --> 00:04:48,060
Ready to take your
healthcare employee retention

120
00:04:48,060 --> 00:04:48,905
to the next level?

121
00:04:48,905 --> 00:04:50,280
Click the link in
the description

122
00:04:50,280 --> 00:04:52,800
to learn more about how Compt
can transform your healthcare

123
00:04:52,800 --> 00:04:53,620
workforce.

124
00:04:53,620 --> 00:04:55,490
Thanks for watching!