What drives employee retention in healthcare companies?
In our eBook, "Healthcare industry insights for driving engagement and retention," we combined data from our healthcare benchmark with academic research and advice from two leading medical companies – One Medical and Mercy Health – to give HR and people leaders in healthcare the insights they need to make data-driven decisions.
People working within the healthcare industry must contend with constant change. It’s undoubtedly one of the most complex industries people work in today. Whether it’s dealing with new and changing regulatory laws, keeping up with advances in technology and medicine, or adapting to the changing needs of patients, medical professionals must be prepared for anything.
What is the state of employee engagement in healthcare?
According to data from Culture Amp’s healthcare benchmark, employee engagement within the healthcare industry is slightly higher than in other industries. It still lags behind our Engaging Growth benchmark, which comprises companies from various industries that are growing and hiring quickly while also scoring high on engagement and retention.
- Healthcare: 72%
- Global: 70%
- Engaging growth: 80%
What are the top drivers of retention in healthcare?
We identified the top factors that impact people’s commitment to staying within the healthcare industry. These are:
- Company confidence
- Learning and development
- Service and quality focus
Improving retention among healthcare employees
Our research also revealed that the best ways to improve retention among your employees are:
- Focusing on innovation. For healthcare companies in Culture Amp’s benchmark, the perception that action will be taken on innovative ideas has the greatest impact on employee engagement. Why might this be? We believe that because healthcare has a reputation for bureaucracy, employees are more engaged when they see their organization taking action on promising new and innovative ideas.
- Fostering a stronger sense of team connection. Feeling part of a team is also a top driver unique to the healthcare industry. To do this well, you'll need to consider the different types of teams in healthcare – from functional teams, like groups of nurses and doctors in a department, to cross-functional teams, like administration, insurance, and specialists in a surgical ward.
Engage and retain your health workers
Healthcare companies must know how to keep their workforce engaged and hire and retain the right people. Engaged doctors and nurses deliver better care and are more open to learning new medical advances and technologies that are changing the industry. An engaged workforce can lead to a better patient experience, reduced turnover costs, and greater brand loyalty.