The Great Resignation and Employee Retention Challenges

NextJob

         By Tammy A. Mullin, chief marketing officer at NextJob, an MHA Endorsed Business Partner                                                      

NextJobAll the talk these days is about “The Great Resignation.” The healthcare industry has lost anywhere from 20% to 30% of its workforce over 2020 and 2021, with more than a third of employees considering leaving their current positions and 60% currently rethinking their career. The sector ranks third in industries experiencing significant labor shortages at 9%, beat out by only accommodations and food services and leisure and hospitality. MHA members are scrambling to fill positions as well as keep existing employees engaged.

While most employers are focused on higher pay and enhanced benefits as a top strategy to attract and retain talent, it turns out that’s not what drives employee satisfaction and engagement. A 2021 study from Indeed, The Work Happiness Report, revealed some interesting data regarding what matters most to employees. Pay ranks 12th on the list of what makes people happy at work.

The top drivers of workplace happiness — feeling energized, a sense of belonging and a sense of purpose — are well within the reach of organizations whose existence is generally tied to a clear mission. The key is in providing clarity on the organization’s vision, mission, impact and employees’ contributions to each, as well as helping workers navigate their relationships with coworkers and into roles they love and where they will thrive.

To help its customers better engage with coworkers and build a better sense of belonging, MHA Endorsed Business Partner NextJob is hosting a webinar on “Workplace Communication Skills” at noon ET July 18. MHA members are invited to register and share information about the webinar with their employee base. In addition, an on-demand recording and presentation slides are available to MHA members free of charge from a webinar on The Great Resignation and Strategies to Maintain Workforce that NextJob presented May 11.

NextJob is available to answer questions and further explore MHA members’ interest in its career development services to help engage and retain employees during these difficult times.

MHA members not only receive discounted pricing on NextJob services; for a limited time, members will also receive their first career development or outplacement package free of charge. 

To learn more, contact Paul Dzurec, senior account executive, NextJob, at (860) 933-8424. For more information about the EBP program, visit the program’s webpage.

Applications Close May 23 for In-Person Security Risk Assessment Opportunity

HSS

HSSThe MHA Keystone Center is partnering with MHA Endorsed Business Partner HSS to offer in-person security risk assessments for its members. This assessment aims to provide an objective evaluation of threats to patients and staff and develop a corrective action plan.

To be selected for an in-person security risk assessment, hospitals are required to consistently submit Occupational Safety and Health Administration data into KeyMetrics and fill out an online application. In-person security risk assessment spots are limited. Hospitals incurring the greatest costs, highest incident rates and severest outcomes associated with staff harm will be prioritized for selection. Applications are due May 23at 5 p.m. MHA members may contact the MHA Keystone Center with questions about the assessment or application.

Workforce, Operational Challenges Addressed at MHASC Board, HR Committee Meetings

At its Feb. 9 meeting, the MHA Service Corporation (MHASC) board focused on supporting MHA Strategic Action Plan priorities including behavioral health, workforce sustainability, data strategy, cybersecurity and diversifying MHASC products, services, and partnerships. To receive an update on the action plan, members are invited to register for the Feb. 24 MHA Strategic Action Plan Forum.

The board discussed strategies for re-designing care and how the MHASC can support efforts in this space. MHA Endorsed Business Partner care.ai sponsored a joint lunch for MHA and MHASC board members and provided an opportunity to demonstrate its Smart Care Facility Operating Platform.

The MHASC Human Resources (HR) Committee met Jan. 31 to discuss current HR priorities and review its role in guiding the MHASC’s purpose and direction as it addresses issues including workforce sustainability, retention and recruitment, talent development, well-being and safety. Members provided feedback on current workforce-related legislative efforts and shared valuable insights with colleagues during a round-table session addressing workforce shortage issues. The MHASC is working with the HR Committee to develop future educational programming and networking opportunities, including the potential for holding an upcoming Michigan Healthcare Human Resources Conference. Finally, the committee received a report from new MHA endorsed business partner LifeWorks, highlighting virtual mental health therapy guided by professional therapists with the same clinical efficacy as traditional cognitive behavioral therapy.

The MHASC provides critical support to the MHA in the form of nondues revenue through its Data Services, Unemployment Compensation Program and Endorsed Business Partner program to address workforce, financial and other business needs. Visit the MHA Business Services webpage to learn more about resources available. Questions regarding the MHASC Board and MHASC HR Committee should be directed to Peter Schonfeld at the MHA.

MHASC Board and HR Committee Focus on Action Plan

The MHA Service Corporation (MHASC) board held a retreat Oct. 7 to evaluate nondues revenue sources that provide financial support to the MHA and to highlight key initiatives that the MHASC is tasked with supporting in the 2021-2022 MHA Strategic Action Plan. These initiatives include workforce sustainability, behavioral health, data strategy, cybersecurity, and diversifying MHASC products, services and partnerships. Workforce sustainability is a top priority for the MHA, and the board explored ways the MHASC can develop and enhance programs and partnerships that best serve members. Members may learn more about the Strategic Action Plan by registering for a virtual MHA Member Forum scheduled from 10 to 11 a.m. Oct. 15.

The board also recognized the MHA Data Services and MHA Unemployment Compensation divisions for serving MHA members with a comprehensive and consultative approach throughout the pandemic. The board received an overview of a potential partnership with LifeWorks highlighting strategies to support behavioral health priorities for MHA members. LifeWorks graciously sponsored a reception with the MHASC board at the meeting.

The MHASC Human Resources (HR) Committee met Sept. 30 to discuss current HR priorities and review its role in guiding the company’s purpose and direction in addressing issues including workforce retention and recruitment, talent development, well-being and safety. The HR Committee has served as a collaborative body for HR leaders to address issues since it was launched during the COVID-19 pandemic. Finally, the committee received a report from new MHA endorsed business partner NextJob highlighting career development and outplacement services available for MHA members. NextJob also invites MHA members to register for a webinar Oct. 12 on Building a Professional Brand for Career Growth to address healthcare workforce sustainability and resiliency for staff.

The MHASC provides critical support to the MHA in the form of nondues revenue through its Data Services, Unemployment Compensation Program and Endorsed Business Partner program to address workforce, financial and other business needs. Visit the MHA Business Services webpage to learn more about resources available. Questions regarding the MHASC board and MHASC HR Committee should be directed to Peter Schonfeld at the MHA.

Salary Benchmarking is an Important Consideration in Setting Competitive Pay

salary.com logo

Salary benchmarking is a process by which managers match internal jobs and their descriptions to similar jobs and descriptions in a salary survey or other source of market pay data to identify the market pay rate for each position. As one of the MHA’s Endorsed Business Partners (EBPs), Salary.com offers pricing intelligence and strategic solutions to workforce challenges.

In a typical year, annual salary benchmarking helps ensure that an organization’s internal pay rates remain competitive within local pay markets. In 2021, salary benchmarking takes on a new level of importance as organizations have been impacted enormously by the COVID-19 pandemic and undergone major shifts in employment and pay rates. These shifts have not been the same across every industry or job type, so it’s critical to plan benchmarking initiatives using the most current compensation data from trusted sources.

When pricing a new position, it’s important to understand not only the key attributes of the positions being considered, but also the best source for the data necessary to conduct an accurate market assessment and salary comparison. The first step in this process is to define the internal position, documenting the key job requirements and attributes in a job description. Then select a relevant data source for the business and compare the jobs and job descriptions there to find the best match for the job being priced. This is critical to an effective salary benchmarking exercise.

MHA members are eligible for discounted prices for Salary.com’s trusted human-resource-sourced data. Special offers from Salary.com allow MHA members to stay competitive and set pay appropriately while being fiscally responsible.

Visit the MHA EBP webpage to learn more about available member resources. Questions regarding the EBP program should be directed to Peter Schonfeld at the MHA.

News to Know – Week of March 1

Upcoming events and important healthcare news for the week of March 1:

  • As healthcare systems have battled COVID-19, those working closest to the virus have been significantly impacted by employee burnout. With greater patient loads, provider shortages and unforeseen complications, many have reported decreased positivity about their medical careers. MHA endorsed business partner Medical Solutions has developed a whitepaper that explores the challenges facing healthcare systems and explains how strong workplace cultures can lead to better recruitment, retention, and employee satisfaction during the pandemic and beyond. For more information on the MHA Endorsed Business Partner program, contact Peter Schonfeld at the MHA
  • The MHA is coordinating two free educational webinars hosted by DataGen to review the Medicare fee-for-service (FFS) quality-based programs. The webinar offered from 1 to 2 p.m. March 3 will review the Medicare value-based purchasing program, and the webinar available from 1 to 2 p.m. March 10 will review the readmissions and hospital-acquired conditions reduction programs. There is no cost for members to participate in the webinars, but registration is required. Members with questions should contact Vickie Kunz at the MHA.

MHA Endorsed Business Partner Salary.com Addresses Pay Equity and Compensation Strategies

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Salary.comDuring this time of both economic and societal upheaval, organizational commitment to fair pay remains high, according to the 2020 Pay Practices and Compensation Survey published in December by MHA Endorsed Business Partner Salary.com. Seventy-three percent of the surveyed organizations agree or strongly agree that their employees are paid fairly, and almost half rated their employee engagement as “excellent or above average.” However, the survey revealed a lack of structure to support and validate that fair pay commitment. More than half (56%) of the responding organizations do not have a formal process in place to address pay equity.

On a more positive note, formal compensation philosophies are slowly gaining more traction, with 62% of participating companies reporting having a compensation philosophy, up from 57% in 2019. However, 74% of these organizations still do not provide formal training to managers on how to talk with their employees about pay. To integrate a greater understanding of a compensation philosophy, employers must increase their level of transparency. This requires the review and improvement of pay policies and practices so they will be perceived by employees as fair in terms of being externally competitive and internally equitable.

To help organizations design, manage and improve their human resources compensation strategies and fair pay processes, Salary.com now offers free benchmark job reports to MHA members. These customizable reports leverage Salary.com’s largest, most comprehensive compensation dataset of over 80 million records and 15,000 job titles across 225 industries and subindustries. Members receive access to aggregate compensation data for every state, major metro area and ZIP code nationwide. Additional reports are discounted off the Salary.com suggested retail price of $245 for members. Visit the Salary.com endorsed business partner profile page to learn more. Members should contact Peter Schonfeld at the MHA for more information on the MHA Endorsed Business Partner program.