The True Cost Of Missing Out On Top Healthcare Talent!

04.07.2017 / Talent Aquisition


cost of missing out on top healthcare talent

Healthcare, we have a problem!

Healthcare is becoming an increasingly saturated market for organizations looking to hire top talent. Market data suggests that, on a scale of 1-100, physician recruitment is currently at a difficulty level of 54 in the United States. That data, coupled with a report from the Association of American Medical Colleges (AAMC) which projects a physician shortage of over 100,000 by 2030, provides a forecast of the recruiting challenges to come.

So, what do these upcoming challenges mean financially?

Covering staff vacancies with overtime or contract labor comes at a premium. Using Bayard’s ‘Healthcare Calculator’, you can now see exactly how much you’re losing per vacancy, each month.

Click here to send us a quick note and check out the calculator for yourself!

 

Let’s get through this together!

Having identified some of the major challenges associated with recruiting in healthcare, you will be pleased to learn that solutions do exist.

Many organizations are successful in getting a message in front of potential candidates. Where they often fall short is in the delivery of an employer value proposition (EVP) that resonates with the talent they’re looking to attract. An imperative, but often forgotten, stage in the process of building an employer brand is discovery. Discovery provides an opportunity to learn what resonates with your audience and what sets you apart from the competition. It is a base to build a roadmap from, using stories and architecture that have an impact on the candidate’s journey and brand experience.

 

A brief look into how it works…

Challenge:

One of the largest healthcare providers in the U.S. was having an identity crisis. With numerous hospitals nationwide, each with a unique name and branded identity, recruitment efforts were often being duplicated and causing confusion for their intended audience.

Solution:

We immediately realized that the system could not overcome its obstacles without a cohesive employer brand (EB). We reimagined the employer brand based on research discoveries and outcomes. Streamlined messaging, applicable to all hospitals and audiences, was developed and demonstrated value propositions were woven throughout all creative elements.

The initial focal point of the new EB was the career site we reinvented and invigorated. Here, impactful storytelling techniques engaged and surprised candidates. We also concentrated closely on the site’s back-end. We implemented best practices for message touch points, including SEO/SEM, landing pages, digital display ads and more.

Results:

The client backed our strategy with advanced technology to help track cost-per-hire (CPH) by media source, proving ROI and helping to differentiate the hospital from its competitors. The result has been a 20% increase in qualified applicants year after year along with a CPH cut in half the first two consecutive years.

 

To learn more about how we continue to use our brand expertise to enhance recruitment strategies, click here.