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Management Workshop: How
to Hire & Retain Top Talent in a
Competitive Market
1
By: Scott Galanos & Amy Noriega
Phoenix, Arizona2
543,000 projected jobs added on by 2026 with Healthcare & Education two largest sectors
56 of 71 healthcare occupations pay above state median wage of $17.45/hr
In 2019 153,00o jobs within admin, healthcare, construction and food service
Job growth to outpace population growth by 1.9%
Current Unemployment as of April 2019 for AZ is 4.9% - lowest thus far in 2019
Source: Bureau of Labor Statistics
Healthcare Leadership Scarcity3
2018 LinkedIn article about hiring within Healthcare
Up 7.3% from July 2017
#1 Most Coveted Skillset?
Healthcare Management
#1 Most Scarce Skillset?
Healthcare Management
Total Cost Per Hire4
Unfortunately, it’s very difficult to pinpoint a precise amount of money it takes to hire a new employee. However, there are some general guidelines to make an educated guess. As stated in a study by the National Association of Colleges and
Employers, hiring an employee in a company with 0-500 people costs an average of $7,645.
Another study by the Society for Human Resource Management states that the average cost to hire an employee is $4,129, with around 42 days to fill a position.
According to Glassdoor, the average company in the United States spends about $4,000 to hire a new employee, taking up to 52 days to fill a position.
Hiring Costs5
Internal Hiring
External Hiring
Career Events
Job Boards
Background
Onboarding & training
Careers Page
Salary + extras
Cost Of A Bad Hire & Turnover6
$45,000 – Healthcare Attorney from Clark Hill PLC
$240,000 – Forbes Business
30% of 1st year salary – US Department of Labor
$40,000 – Recruiterbox.com
$17,000 – Careerbuilder
Sourcing the Best Talent7
Utilize referrals – Who does your current staff know? Give incentives (day off, $100.00)
LinkedIn – The #1 direct hire recruiting source for return on investment (Top 3: LinkedIn 32%, job boards 25%, recruit from existing base 20%)
Networking events –HFMA, AAHAM, NAHAM
An integrated approach is best for multiple vacancies Full-time, part-time, internal staff, and contractors
Dedicated Recruiting Source Top priority
In the end you want the BEST candidate
Source: Staffing Industry Analysts 2013 & Small Business.Com
Setting Yourself Apart 8
Job descriptions Qualifications, education, and/or years of experience Day to day duties What qualities are most important to you?
Competitive edge points – What makes you unique? Flex start/end times Telecommuting, remote Monthly lunches or pot lucks
Summer/Holiday Events Pet Friendly Employee of the Month Contest for days off or bonuses
Response Time Interview Post Interview
Work Perks that Matter9
Results
Healthcare benefits (70%)
Vacation packages (46%)
Free meals, beverages and snacks (42%)
Tuition reimbursement (32%)
In building gym or free workout classes (30%)
Addison Group Survey, 2015 – Published on Market Watch
The “Perfect” Candidate10
Job Specifications – Preferred vs. Required
Most job descriptions between 10-20 “requirements”
Education
Certifications
Resume is not be-all-and-end-all
Utilize pre-assessment of a good recruiter (internal/external)
Screen the recruiter questions prior, give them guidance, and answers
If you hire someone at 95%-100% where can they go?
They can hit the ground running, but may be be bored after 12-18 months
Be open to hiring at 80%, there is room for growth
Qualifying & Screening Candidates 11
Resume
Well organized, updated, education and credentials provided
Verify where particular skills, software, etc. were utilized
Identify gaps
Ask in-depth questions, resumes do not explain in detail
References
Verify credibility with at least two former supervisor or managerial references
Are your references aware I will be calling them?
“I had an employee stealing meds.” – Practice Manager from CMGMA
Background checks, drug screen and verifying credentials
Can uncover character flaws that could be detrimental to your practice
Social Media
Check social medias as another method of screening candidates
References12
References are invaluable free resources that prevent costly mistakes. We once hired a capable candidate who then didn't show up for work the first week. Checking his references might have prevented us from paying to onboard an employee who technically never started.
Forbes.Com “The True Cost of A Bad Hire – It’s More Than You Think” 2016
Preparing for the Interview 13
Come prepared with specific questions Conversational ice breakers can help kick off an interview
Avoid asking too many generic questions, opting instead for questions specific to the role, culture and company
Remember to listen Listen - Don’t think about the next question and miss the details
Try having the candidate lead the interview
Speak candidly about company culture and job expectations Map out talking points ahead of time for both expectations and culture
Speak honestly about work-life balance and realistically about career paths and growth
Present yourself as if you’re being interviewed In your next interview, demonstrate your experience in the field and how
you manage a team – you might just win over a stellar candidate
Source: 2015 The Staffing Stream – The Voices of the Staffing Industry
The Interview Process14
A standardized interview process provides hiring managers and recruiters with tools to formulate good questions and evaluate candidates. Behavioral interviews and peer-to-peer interviews can determine if the candidate would fit well into the company culture. The process is consistent for all candidates who've applied for the same job and relies on the same interviewers, who should be trained to look for red flags during the interview and to discuss any concerns with recruiters.
Society for Human Resource Management “The Cost of a Bad Hire Can Be Astronomical”
Interviewing Techniques 15
Phone Screen
Before face to face interview
Have resume in hand of candidate
Ask in detail about past positions
Go through day to day duties, will uncover job specifics
Skype
If a face to face isn’t viable utilize Skype
Appearance and demeanor
Time saver
In-Person
Keep interviews to the point
Meet the team, other supervisors and managers
Feedback in timely fashion, interviewees have multiple opportunities
One & Done – Unemployment is at 4.9%
16 Inc.com – 2014 “Top 5 Reasons Employees Quit”
Top 5 Reasons Employees Quit
Retention Strategies 17
Every month, about 3 million Americans quit their job in search of something better. 31% of employees quit before making it to the half-year mark!
Salary & Benefits Average pay in Phoenix, Arizona for Patient Access is approximately $15.85 according
to Glassdoor and $14.64 for Healthcare CSR according to Indeed
Have Leaders, Not Bosses People leave managers NOT companies
Control What You Can Control According to a Gallup poll, 56% of somewhat disengaged and 73% of actively
disengaged employees are actively looking for a different job.
Retention Strategies18
Conduct “stay” interviews Promote from within Regular check in with team Offer cross-training
Pre-Access to Patient Registration Customer Service to Scheduling
Create open communication between employees and management Skip level training
Team building events and activities Communication business missions Financial Rewards Set clear expectations
Wall Street Journal: How To Guide – Employee Retention
Forbes: Retention Strategies
Questions19
Scott Galanos
SVP Healthcare Denver, Charlotte, and Phoenix
Amy Noriega
Branch Manager, Phoenix Healthcare
