From crisis mode to control: Building a resilient workforce strategy
The persistent healthcare talent crisis has evolved from cyclical labor shortages to a structural workforce problem that’s reshaping how hospitals and health systems operate.
To deliver quality care, meet safe staffing standards and rein in the cost of agency staff and travelers, a strategic approach to workforce planning is more important than ever.
In a session sponsored by CareRev at Becker’s 13th Annual CEO + CFO Roundtable, Larry Adams, chief nursing executive and SVP, strategy, at CareRev, and Tim Johnsen, founder and CEO of Keynote Enterprises, moderated a roundtable discussion about how healthcare organizations are addressing today’s workforce challenges.
Three key takeaways were:
- Talent shortages extend beyond nursing. Many hospitals and health systems are struggling to recruit and retain support staff in departments like EVS and dietary. Others are experiencing tech shortages in the lab, mammography and radiology, which creates bottlenecks in the care continuum and negatively affects the patient experience.
A participant from an academic medical center in the South elaborated. “When CT turnaround times are high and people have to wait really long periods, the patient experience goes into the tank,” he said. “We’re doubling down on recruitment in those areas.”
In anesthesia services, the cost for locums have become unsustainably high. At a health system in the Midwest, locum tenens nurse anesthetists are paid the same as the hospital’s cardiac surgeon.
- It’s time to compete differently for talent. In an environment where large companies like Chick-fil-A, Target and Amazon offer highly competitive employee benefits, healthcare leaders must think more creatively about workforce strategies. Some have crafted compensation packages with multi-year, tiered sign-on bonuses. Once staff are on board, organizations offer career ladders to boost retention.
The importance of culture as a competitive differentiator can’t be underestimated. “Culture is what drives people to come to our organization and it’s why they stay,” the president of a children’s hospital in the Southwest explained. “Turnover usually occurs between years one and three. Once we get past year three, turnover drops 50% so we’re homed in on how to recruit and retain to that three-year mark.”
- Modern workforce models minimize costs, while supporting quality care. Permanent staff are at the core of effective healthcare workforce models. These employees can be augmented with a strong internal float pool that flexes based on census and acuity levels. If positions still need to be filled, organizations may turn to more costly external float pools and travelers.
CareRev’s on-demand workforce platform prioritizes internal staff and then looks externally as necessary. “We build local talent pools in your community, pulling from individuals looking for work on an on-demand basis. This gives you an opportunity to sell people on your culture and then hire them,” Mr. Adams said.
Internal float pools meet today’s talent where they are, putting workers in control of the shifts they pick and how much they will be paid. “Internal resource pools must be sophisticated and match units with the competencies of nurses,” Mr. Johnsen noted.
In today’s world, workforce planning is just as critical as anything in a hospital or health system’s strategic plan. Internal float pool programs can play a central role, minimizing labor costs and enabling healthcare leaders to serve as financial stewards of their organizations.
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