Reducing Turnover in Millennial Healthcare Employees
Millennials have been accused of being deficient in some categories when compared to older generations, but a lot of these allegations are simply not true. When getting to the core of handling millennial employees, they simply want what most other generations before them did. Perhaps the biggest difference is that turnover has become expected and even incentivized — some reports indicate that staying in a job longer than two years could hurt you these days.
Regardless of generational differences, employers want to keep their talent pools happy. Here are four sensible turnover reduction strategies providers can use that also have the possible side benefit of increasing productivity:
Offer Competitive Salaries and Benefits
The most common reason employees leave a position is that they either think or know that they could get paid more somewhere else. Rare is the instance where someone will forsake their job for a lower paying one. To avoid someone jumping ship for a better paying job, the simplest solution is to offer competitive starting salaries with a transparent raise system, similar to how the U.S. government handles pay grades for federal or military employees.
If employers are looking to reduce costs, they can provide other benefits that add equivalent value, such as extra healthcare options, free gym memberships or perks like lunch per diems. Smaller, privately-held provider organizations could even offer stock options or equity stakes to top-performing employees.
Demonstrate That You Value Employee Efforts and Input
Recognizing employee accomplishments is one of the simplest — and cheapest — methods to reduce employee dissatisfaction and turnover. Similarly, offering employees a forum to voice their suggestions, thoughts or concerns can make them feel like they are invested in the success of the organization. Sending simple “shout out” emails that recognize people and successful projects on a weekly basis can be enough in many instances.
Other times, employees may want to see their suggestions put into action. A formalized, transparent system for implementing suggested employee changes can encourage people to feel engaged with the outcome of their labor, even if most suggestions become rolled into others or do not make the cut.
Bring Employees Together
Workplaces that feel familial or generally friendly provide employees with an incentive to stay, even when faced with more lucrative opportunities. Conduct team-building events that the employees actually want to engage in, and watch as satisfaction and productivity increases. Attending a sporting event as a team, having company dinner outings or playing beginner-friendly team sports activities like Ultimate Frisbee after work can all allow employees to bond with each other and their superiors.
Conduct Regular Employee Interviews
Going back to giving employees a forum for input, regular employee interviews construct a dialogue between departments and ensure that important developments are not being overlooked. Problem employees can also have their behaviors addressed without a confrontational setting since every employee sits down for an interview regardless of their performance.
Find More-Qualified Candidates Through a Medical Staffing Agency
These strategies are far from bulletproof, but they can improve morale and reduce turnover on the whole. Another important element is to ensure that you hire only the most qualified, team-friendly candidates from the beginning. You can use the help of a medical staffing agency to track down the cream of the crop.