Address Healthcare Employee Retention with Data Tools

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By Dan McPhee, partnership relationship manager at Salary.com, an MHA Endorsed Business Partner.

salary.com logoIt’s well known within the healthcare industry that issues of employee turnover, lack of applicants and salary compression were exacerbated in 2020 and 2021. Unfortunately, these trends have continued throughout 2022 with indications that 2023 will be just as challenging. While there are several drivers of long-term employee retention, compensation professionals within the industry note three common challenges when it comes to employee turnover and recruitment:

  1. Employees leaving healthcare entirely for higher pay and/or better schedules.
  2. Employees transitioning from one healthcare facility to another for higher pay, benefits and/or better schedules.
  3. Employees moving out of city or state for higher pay, sometimes responding to economic relocation incentives provided by a hospital system, state or city.

These are informative themes, but each would warrant a case study for detailed, long-term solutions. MHA Endorsed Business Partner (EBP) Salary.com has the data to look at solutions to these challenges within their CompAnalyst MarketData tool. With more than 8,000 benchmark jobs updated monthly and the ability to scope by industry, geography and facility size, the team can easily pull valuable data into reports to help HR and compensation professionals better understand the market, competition and industry pay.

MHA members are invited to try until Sept. 15 a free trial of the CompAnalyst MarketData tool for 30 days or 15 job pricings (whichever comes first) and receive full support from Salary.com on using the tool and identifying solutions to these challenges. Members also receive discounts on all Salary.com subscriptions and resources.

Please visit the MHA Salary.com landing page or contact the Salary.com team to start a trial. Visit the MHA EBP webpage for more information on available workforce solutions.

News to Know – Week of July 11

MHA Endorsed Business Partner NextJob will host a free webinar on workplace communication skills at noon ET July 18 to help employees better engage with coworkers and build a better sense of belonging. MHA members are invited to register and share information about the webinar with their colleagues. A link to connect to the webinar will be emailed upon registration. To learn more, visit the business partner profile page for NextJob or contact Paul Dzurec at NextJob.

Salary.com Offers 2022 Compensation Best Practices E-book

Salary.com

Salary.com, an MHA Endorsed Business Partner, is sharing its 10 Compensation Best Practices” e-book as a resource for hospital leaders to consider in developing compensation strategies.

Hospitals and health systems continue to transform, and compensation practices need to keep pace. Staff retention has become a top concern, and diversity and pay equality issues are critically important.

An organization’s compensation philosophy is the first step toward fair and competitive pay, leading to higher retention rates and the ability to attract top talent. Employers can open the level of transparency throughout the organization and develop trust among employees. The philosophy will help answer employees’ questions about how their pay is determined.

Downloading Salary.com’s “10 Compensation Best Practices” e-book will help healthcare leaders review their compensation philosophy in the context of today’s human resources challenges and discover other strategies for setting appropriate pay structures in 2022.

Members with questions may contact Kevin Plunkett at Salary.com. For more information on the MHA Endorsed Business Partner program, contact Rob Wood at the MHA.

News to Know- Week of Jan. 17

  • The MHA will host a free webinar from 1 to 2 p.m. EST Jan. 25 to provide an update on price transparency and the No Surprises Act, including what is now required for compliance. MHA Endorsed Business Partner PARA will review the 15 data elements needed for good faith estimates, the mandatory disclosure notice and more. The webinar is free of charge for MHA members, but registration is required. To learn more about opportunities available with PARA, visit its profile page or connect with PARA account executive Sandra LaPlace.
  • MHA offices will be closed and no formal meetings will be scheduled Jan. 17 in honor of Martin Luther King Jr. Day.

Mental Health and Resilience for Health Care Workers During the Holidays

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By Paula Allen, global leader and SVP, research and total wellbeing, LifeWorks, an Endorsed Business Partner of the MHA

AbilitiCBT LogoMental health is central to everything. This is a definitive statement because it is so true. Mental health is central to our quality of life, relationships, work experience and even participation in the economy. Many people take it for granted, but if there is any benefit to the strain of the past twenty months, it is that it has become clear that no one can or should ever take their mental health for granted. Since the Spring of 2020, there has been a significant decline in the mental health of working Americans.  Life and work has been filled with massive change, uncertainty and unprecedented risks and demands. People are tired.

While the holiday season is a time for celebration and connection, the work demands of this season can potentially overshadow the benefits of this time of year. When this happens, stresses can actually feel more stressful than at another time of year. Now more than ever, it is important to take stock of your situation and your opportunities. Gratitude grounds us and focuses the mind. Simple and unexpected kindness can foster the connection to someone else which changes how we experience stress.  At times, however, we might need more. With this MHA has launched AbilitiCBT. It offers evidence-based and effective mental health therapy for anxiety, depression and other issues. Two of the most important benefits are that it can fit into any busy schedule given digital access, but the process is also guided by a therapist who is there when needed, and who ensures the right path for each individual.

Mental health cannot be taken for granted. AbilitiCBT is here for you to use.