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Retention is the winning strategy: Here’s what healthcare leaders need to know

October 10, 2023
Business Affairs
Jeff Whitehorn
By Jeff Whitehorn

It’s no secret that the healthcare industry has faced a series of unique challenges since the onset of the COVID-19 pandemic. As a coach and consultant, I frequently ask healthcare leaders about the pain points they face. Without fail, they mention that the lack of staffing and labor issues keep them up at night.

Healthcare workers and leaders are not the only ones worried about the impact of staffing shortages. In fact, according to ECRI, a nonprofit patient safety organization, staffing shortages were the nation's top patient safety concern in 2022. As a result of these shortages, Americans often endure longer wait times when seeking care.

We all know that the healthcare industry is facing unprecedented challenges. New solutions are needed to address the persistent employee burnout, financial setbacks and inability to meet patient demand.

In order for practices to overcome these obstacles and move forward, healthcare leaders should consider implementing changes based on these trends.

Focus on employee retention
I have found that many practice leaders prioritize employee recruitment over employee retention. They invest a considerable amount of money and resources in recruiting new talent, as well as in contract labor. However, this approach is misguided. It is essential for leaders to shift their attention toward establishing systems that retain employees. By retaining valuable staff members, hospitals can maintain productivity and engagement, while also enhancing the quality of care provided to patients.

Improve organizational culture
A strong company culture is the best strategy to retain employees, especially in the face of high turnover rates. By focusing on employee well-being and fostering a supportive environment for growth, a positive workplace culture enhances retention. When combined with a deeper understanding of what modern employees seek — such as good benefits, high pay and a collaborative work environment — a strong culture becomes a driving force in keeping employees engaged and committed.

Deploy IT strategies
Advanced technology can streamline the efficiency and capacity of healthcare workflows, reducing administrative burdens and freeing up resources so that healthcare workers can spend their time addressing patient needs. Importantly, advanced IT strategies can improve how patients experience healthcare and can reduce provider burnout by simplifying time-consuming, administrative tasks.

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