Despite record-level turnover and low unemployment rates, employers can improve their hiring system.
Navigating the current hiring environment is a challenge and healthcare recruiters are feeling the heat.
Faced with record-level turnover, historically low unemployment, and job openings above 10 million, organizations have never faced a more challenging labor market, says a new report from
Employ, Inc., a provider of recruiting and talent acquisition solutions.
Add inflation uncertainty, massive rounds of layoffs, and interest rate increases to the mix, and it’s easy to see why healthcare organizations and other companies are finding it difficult to respond in this challenging talent landscape.
The report, based on Employ’s proprietary recruiting data and findings from a survey of more than 1,200 HR decision-makers conducted last November, revealed that more than 65% of HR decision-makers think recruiting is more stressful now than it was a year ago, primarily because there are not enough qualified candidates (59%), there are more open roles to fill (51%), competition from other employers (44%), and more employees are leaving the organization (43%).
Workforce shortages have become an urgent issue at health systems and hospitals across the country. Healthcare organizations are facing severe nursing and physician shortages, along with deficits in other areas, as well.
Indeed, workforce challenges were ranked No. 1 on the list of hospital CEO top concerns in 2022, according to an annual survey conducted by the American College of Healthcare Executives.
The largest recruiting challenges in attracting and hiring quality talent, according to the report, are:
- Not enough talent to fill positions: 56%
- Competition from other employers: 54%
- Inability to compete with salary requirements: 33%
- Poor communication from candidates in the hiring process: 29%
- The hiring process takes too long: 28%
- Not able to work from home: 27%
Hiring professionals’ top recruiting priorities are improving the quality of candidates (61%), improving speed of the hiring process (44%), and getting more candidates for each open role (41%).
Other priorities include improving the onboarding process (38%) and having a more diverse talent pipeline (31%).
Job candidates, on the other hand, have their own motivations in seeking new employment. Their primary motivations are getting more money (34%) and the ability to work remotely (21%), according to the report.
Improving recruiting outcomes
The report offers three strategies to help organizations improve their hiring system:
1. Deliver positive experiences: Invest in the needs of hiring managers, recruiters, and candidates, and deliver positive experiences for these audiences. Shorten feedback loops and improve communication and collaboration. Ensure the hiring process delivers positive experiences that enhance the company’s employer brand.
2. Identify where to optimize processes: Keep a clear eye on applicant flow and the talent pipeline to uncover insights into where the recruiting process can improve.
3. Leverage purpose-built recruitment technology: Adopt recruitment software and talent acquisition technology that is tailor-made for the complexity, size, and hiring needs of the organization.
“Companies of every size and recruiting complexity must stay the course and remain resilient as they plan for 2023 and beyond,” the report notes.
Carol Davis is the Nursing Editor at HealthLeaders, an HCPro brand.
KEY TAKEAWAYS
Organizations have never faced a more challenging labor market.
65% of HR decision-makers think recruiting is more stressful now than it was a year ago.
Identifying where to optimize processes is one strategy to improve an organization’s hiring system.