Medical Recruiting Insights
Adaptive Medical Partners is leading the way for physician recruiting; in both placement and thought leadership, we are industry pioneers.
Incorporating a Recruitment Plan in Your Succession Planning
If you are like most American hospital administrators or clinic managers, physician and midlevel practitioner recruitment probably is one of your top concerns. After all, current trends project a shortage of between 40,800 and 109,000 physicians in the United States by 2030, and, by 2022, 1.2 million vacancies for registered nurses are projected to open. But how much consideration has been given to possible recruitment needs for administrative or other staff positions? Does your hospital, group practice or healthcare facility have a succession plan in place to meet current and future staffing needs?
High Turnover Rates in the Healthcare Industry
In the current political and economic landscape in which the delivery of healthcare continues to transform and reimbursement models continue transitioning to more value- and performance-based forms, leadership is more critical than ever to successfully navigate through the uncertainties and changes. But leadership itself can be in flux:
- High CEO turnover rates: The annual American College of Healthcare Executives report for 2016 once again revealed a high level of turnover in hospital CEOs. For the third year in a row, the turnover rate was 18 percent.
- High C-suite turnover rates: A recent survey of hospital staff revealed that one-third of C-suite executives expect to leave their current hospital within two years, and two-thirds expect to leave within five years.
- Retirement plans: The average age of CEOs and CFOs is in the mid- to late-50s, and up to 70 percent of C-suite executives report they plan to retire within 10 years.
The high turnover rates extend beyond executive roles. Up to 25 percent of newly hired physicians leave within their first three years, and a recent survey found U.S. hospitals experienced a turnover rate of nearly 21 percent of its workforce.
Need for Succession Plan for Entire Organization
A succession plan involves identifying existing and potential talent within your organization to fill future positions and then cultivating those skills in individuals through professional development and mentoring. To create a succession plan that helps ensure your organization has the skills and staff at all levels necessary to change with the times and move your agency along its roadmap to success, the following steps are recommended:
- Map out every position: For every job, map out the necessary skills, experience, personality and values required for success in the role.
- Conduct a gap analysis: Conduct assessments to identify what skills and attributes current staff possesses and those your organization needs in order to fulfill its vision and long-term goals.
- Talk to employees: Find out what your staff’s career goals are and where those goals fit into the organization.
Including a Recruitment Plan
One of the main goals of succession planning is to fill critical roles in the organization as quickly as possible with minimal interruption. However, it is not always feasible to identify possible candidates from your internal pool. Filling positions from within are not always the best option for your organization. Sometimes you need to look outside the organization. As part of a comprehensive succession plan, you might need to incorporate a robust recruitment plan to fill gaps or to respond to unexpected vacancies.
Adaptive Medical Partners, a premier physician recruiter, can help you develop your recruitment strategies for physicians and advanced practice providers.