Can You Survive the Perfect Storm?
The Four W’s of Healthcare Recruitment
And How They Impact Your Budget
W #4 – What If
No need to panic yet…is there? What if healthcare recruitment runs into the perfect storm? Could it happen?
Retirement of your most experienced care givers, no experienced pool of candidates to replace them.
Your budget is reduced by 75%. In addition to the positions you currently have available, you’ll need to deal with turnover, some retirement, and the dreaded internal transfer.
You are looking at a unique opportunity for a creative solution. But you’ll need to get started now.
Sit down and assess the situation:
What commitments/contracts do you have currently? Are they working and how much of a commitment is there? When do they end? Have you been receiving timely reports?
What other costs are associated with your budget, print, postings, SEO, ERP? Where are your greatest expenses? How effective are your recruiters and are they using the tools you have provided?
From there you will need to rely on a team of experts – your recruiting staff. No one is more vested in your recruitment success or more responsible for its failure.
Why are people leaving? Retirement or more opportunity?
What is your reputation within the healthcare community and are your employees committed to your success?
Bottom line – maybe you can’t afford it, but here is where you start:
Do you have an employment brand? You should know, and if you need to check the first page of the hospital website for it – you don’t. Better identify it or call in an outside group to help.
Your ATS should tell you where candidates originate. If it is accurate – great – because those sources will be at the top of your list.
Where are your hot spots, your toughest to fill positions? They will take up the greatest portion of your recruitment budget.
Speaking of the budget – how do you allocate it? I’ve always felt that you look at the overall budget and divide by 15. That will give you a budget for each of 12 months – with 20% in reserve.
Why a reserve? Because it’s not your first rodeo and you know some things are going to happen that you have little control over – but will have to deal with anyway. More postings, targeted job boards, SEM, Social Media, ERPs, behavioral targeting, geo-fencing, redesigning and branding your career site – the opportunities are endless.
Now all you need to do is decide the best and most cost-effective solution for your facility. I told you there would be a chance to be creative.