WEBVTT

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[BRIGHT MUSIC]

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Today we're diving deep into
the world of healthcare employee

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retention.

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If you're in the
healthcare industry

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or just interested in the
fascinating world of medicine,

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you're in for a treat.

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Hi, I'm Lauren.

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I'm the head of
communications at Compt.

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Let's dive in.

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Healthcare, it's a field
where every moment counts

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and high turnover rates are
a challenge we can't ignore.

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Stick with us as we uncover the
six essential strategies that

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can skyrocket your healthcare
employee retention rates.

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But first, let's take a
quick peek at the numbers.

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Between 2016 and 2020,
healthcare employee turnover

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soared from 32% to
a staggering 45%.

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In the blink of an eye, the
industry waved goodbye to around

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460,000 valuable workers.

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The current hospital
turnover rate

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stands at 22.7%, which is 3.2%
lower than it was in 2021,

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and the registered
nurse turnover rate

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is about the same with a
4.6% decrease from 2021.

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But don't be fooled.

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The road ahead is not
without its challenges.

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By 2030, a staggering 15
million health care workers

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will be needed to fill the gap.

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Why the shortage, you ask?

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Demographics, increased
demand, a surge

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in patients with
chronic illnesses.

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Those have all contributed
to this perfect storm.

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But it's not just
about the numbers.

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The health care workforce
faces unique challenges.

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The pressure to deliver
quality patient care, combined

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with the complex nature
of medical procedures

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requires a blend of
technical expertise

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and genuine compassion.

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So how can healthcare
organizations combat this tide?

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First, let's discuss the four
pillars of workforce management

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for healthcare organizations.

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Pillar number one, planning.

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In the unpredictable
world of healthcare,

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having a staffing strategy
in place is crucial.

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Anticipating patient
volume fluctuations

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and being prepared for
last minute changes

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is the name of the game.

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Healthcare management software
can be your best friend here,

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predicting future organizational
needs based on historical data.

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Next up, we've got scheduling.

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Healthcare professionals
deserve work-life balance too.

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Optimizing shifts based
on patient volume trends

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and offering flexible scheduling
options can work wonders.

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Imagine having control
over when you work,

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reducing social jet lag
and boosting morale.

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It's a win-win.

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Now let's tackle pillar
number three, follow up.

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Continuously measuring
scheduling outcomes

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and gathering employee
feedback is essential.

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Keep an eye on burnout
levels, job satisfaction,

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and engagement.

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A happy employee is
a loyal employee.

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Lastly, employee engagement.

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Creating an environment where
healthcare professionals feel

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valued and recognized is
key to retaining top talent.

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From performance coaching
to professional development,

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a well-balanced approach
is the secret sauce.

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But wait, we're not done yet.

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Here are the six employee
retention strategies

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you've been waiting for.

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First up, strategy number one.

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Offer student loan repayment.

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Healthcare grads often
carry heavy debt loads.

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Helping them with
student loan repayment

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is a gesture that
goes a long way.

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Less financial stress means
happier and more engaged

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employees.

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Strategy number two.

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On demand pay.

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Offering competitive
pay is essential,

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but sweetening the deal
with on demand pay, bonuses,

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and unique perks takes
it to the next level.

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Imagine being able to access
a portion of your paycheck

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instantly or
receiving spot bonuses

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for outstanding performance.

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Now that's a workplace where
you're truly appreciated.

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Speaking of perks, let's
explore strategy number

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three, flexible
benefits and perks.

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From commuter benefits to
mental health subsidies,

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these extras can make
a world of difference

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in your healthcare heroes lives.

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Strategy number four,
flexible scheduling.

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Balancing the demands of
healthcare with rest is vital.

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Unique strategies like staggered
shifts and adaptable work

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durations can ensure that
healthcare workers have

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the time they need to recharge.

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Strategy number five, improving
recruiting and onboarding.

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Getting the right
people on board

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sets the stage for
long term success.

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From sign on bonuses
to mentorship programs,

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creating an environment
where new hires feel valued

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and supported is the way to go.

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Last but not least,
strategy number six,

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encourage continuing education.

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Investing in your healthcare
professional's growth

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pays off in more ways than one.

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From tuition reimbursement to
sponsorships for conferences,

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supporting their
learning journey

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keeps them engaged
and motivated.

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With this video, we're just
scratching the surface.

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Check out our full guide at
compt.io/healthcare employee

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retention, or skip the reading
and chat with an employee

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benefits program
expert at Compt now.

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Compt is your
all-in-one solution

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to boost employee
engagement and streamline

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benefits administration.

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With Compt, you can reward
your healthcare heroes,

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create an environment
they'll thrive in

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and take the stress out
of benefits management.

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Ready to take your
healthcare employee retention

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to the next level?

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Click the link in
the description

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to learn more about how Compt
can transform your healthcare

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workforce.

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Thanks for watching!