The Importance Of A Strong Employer Brand In Healthcare Recruitment
The Affordable Care Act, rising costs of care, growing numbers of baby-boomers needing increased care – there are a lot of reasons why healthcare recruitment efforts offer more great healthcare jobs than there are great candidates right now.
Differentiating your organization is now more important than ever in order to attract and keep great talent. Strengthening your employer brand – everything you say or do that shapes employee or job candidate perceptions of your organization – can not only make you stand out from the competition, it has other benefits as well.
Why Employer Brand Matters In Healthcare Recruitment
The Association of American Medical Colleges predicts that by 2020, the US will face a shortage of 90,000 physicians, and by 2025, that number will jump to 130,000. A variety of healthcare companies actively court physicians, who now have their pick of professional paths beyond traditional primary patient care.
In the same vein, a 2017 survey of 350 healthcare providers by HealthCare Recruiters International found that there was a 23 percent increase in their job postings in 2016, most likely due to the complexities of the Affordable Care Act and an aging population.
Job seekers look to a company’s brand to give them an idea of what it’s like to work there. According to research done by LinkedIn, 83% of individuals agree an employer’s brand significantly impact its ability to hire talent.
The most important elements of a job to U.S. job seekers are a good work-life balance, job security, and a pleasant work environment, according to Randstad’s Employer Brand Research 2017 report. In fact, quality of life is now so important that 9 out of 10 people surveyed by Metlife said that money is no longer the biggest incentive in selecting a job.
Investing in your employer brand will save your organization money on healthcare recruitment in the long run. The same LinkedIn analysis also showed that a great company brand lowers cost-per-hire by up to 50% and reduces staff turnover by up to 28%.
The Virtuous Cycle Of A Great Employer Brand
The healthcare industry is growing quickly. Hiring healthcare professionals is getting more and more competitive.
A strong employer brand can fill a talent pipeline, improving the quality of hires while reducing recruitment time and cost. Internalizing and “operationalizing” that brand will help retain employees and help you recruit the next generation of leaders. It’s also a great way to reinforce your customer-facing brand. The best talent wants to work for the best company. And the best customers want to do business with companies that hire the best employees.
Want to talk about strengthening your employer brand? Email or call 317-631-6400.