Solutions to the Healthcare Retention Problem
from the Turning Good People Into Top Talent blog series
According to a 2014 survey by HealthcareSource®, the leading provider of talent management solutions for the healthcare industry, 74 percent of respondents plan to streamline HR processes. Meanwhile, 69 percent are planning to implement initiatives that improve employee retention to help reduce costs.
Dr. Frederick Morgeson, Eli Broad Professor of Management for Michigan State University, says, “Turnover is costly for organizations. When a person leaves, it costs the organization one to two times an employee’s first year’s salary. One of the reasons retention is such a chronic problem in healthcare is because the work can be highly stressful and skills utilized are often easily transferred from one organization to another. It’s beneficial to use behavioral-based assessments during the hiring process because this can help you identify and select those who are more likely to stay.”
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Bob Moore, CMC®
CEO of Effectiveness, Inc and
The Talent Management Institute
“Turning Good People Into Top Talent”