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Employee Retention Strategies in Healthcare: Innovative Employee Engagement Ideas

Employee Retention Strategies in Healthcare: Innovative Employee Engagement IdeasSeeking to improve the level of engagement among your employees? Look no further! 

Guaranteed employee engagement ideas to boost your workforce.

We’ve released a new white paper discussing the top employee retention strategies in healthcare. Any administrator or manager in the healthcare field can benefit from these compelling employee engagement tips.

But first, why care about employee engagement?

Employee engagement drives quality and profitability in healthcare. According to Harvard Business Review:

“Hospital systems in the U.S. are at a crisis point. Among the many changes ushered in with the new healthcare law is the shift to value-based purchasing, which ties a system’s Medicare and Medicaid reimbursements to the quality of the services it provides.  For many systems, the mandate will now be to improve clinical processes and ensure a high-quality patient experience — an outcome highly dependent on the commitment, dedication and skills of a hospital’s employees who have an enormous impact on the overall patient experience. In fact, with a potential 2% loss in reimbursements for hospitals that cannot meet specific patient satisfaction and quality of care outcomes, the link from employee actions to patient experience to financial results could not be more direct. Losses amounting to millions of dollars for many hospitals and systems that receive half or more of their funding from government reimbursement are possible. It is, quite literally, a make-or-break moment for financial sustainability.”

The most fundamental technique to improve an organization’s level of patient care is not employing the latest medical technology, but improving the level of employee engagement. In fact, research has verified the most profound improvements in patient care and financial returns among healthcare facilities occurred from implementing sound employee engagement strategies.

Employee Engagement Statistics

Did you know?

  • Employee disengagement costs more than $500 billion per year to the U.S. economy.
  • 86% of HR leaders believe they don’t have a good leadership development path.
  • 79% HR leaders believe they have a significant retention and engagement problem.
  • Only 6% believe their current process for managing performance is worth the time.

Intrigued? Download our free white paper, Employee Retention Strategies in Healthcare: Innovative Employee Engagement Ideas.

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 What is Employee Engagement?

Engaged employees…

…are employees who are fully motivated, ambitious and enthusiastic about their work and, thus, take positive actions to further the organization’s goals and reputation.

 

…are emotionally-invested employees who care about their work and their company. They don’t just work for a paycheck or the next promotion, but they work on behalf of the organization’s success.

How Employee Engagement Increases Return on Investment (ROI)

How can you prove employee engagement really works? Is it all hype or does employee engagement substantially impact the bottom line? Yes, it does! Research shows implementing employee engagement strategies can significantly increase your ROI.

In our free white paper, Employee Retention Strategies in Healthcare: Innovative Employee Engagement Ideas, you’ll learn why your HR department should start acting like your marketing department.

Sound appealing? Download our free white paper, Employee Retention Strategies in Healthcare: Innovative Employee Engagement Ideas.

Employee Retention Strategies in Healthcare: Innovative Employee Engagement IdeasDownload White Paper Now

Employee Retention Strategies in Healthcare: Innovative Employee Engagement Ideas addresses the following topics:

  • What is Employee Engagement?
  • Employee Engagement Statistics
  • Increasing Return on Investment
  • How to Improve Employee Engagement
  • 3 Methods to Measure Employee Engagement
  • Employee Satisfaction Survey
  • 25 Employee Engagement Questions
  • Employee Retention Plan
  • 10 Employee Engagement Best Practices

 

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How to Improve Employee Engagement

Before you can improve employee engagement in your organization, you need to first establish a benchmark. That is, measure the level of current engagement initiatives.

3 Methods to Measure Employee Engagement:

#1 – Employee Retention Values 

You as an employer, hospital administrator, or HR manager should assess your Employee Retention Value (ERV). Create a baseline audit based on the most recent employee reviews or other analyses of employee performance.

The Employee Retention Value can be calculated with a simple formula, which can be found in our white paper, Employee Retention Strategies in Healthcare: Innovative Employee Engagement Ideas.

#2 – Organizational Retention Rates

In addition to assigning ERVs for each individual employee, the organization as a whole should assess the overall retention rate (commonly referred to as “turnover rate”). The Retention Rate is a helpful statistic for an employer to calculate – both as a benchmark and periodically (for example, quarterly or bi-annually). Our white paper expounds on how to calculate organizational retention rates.

#3 – Employee Satisfaction Survey

Third, allow your employees to assess your organization. The best way to do this is by utilizing an Employee Satisfaction Survey. Use a 0-10 or 1-10 scale to quantify the answers. (Do not create a multiple-choice survey, as this will likely result in skewed results.)

See our white paper, Employee Retention Strategies in Healthcare: Innovative Employee Engagement Ideas, for “25 Employee Engagement Questions” to utilize in your Employee Satisfaction Survey.

What are you waiting for? Download our free white paper, Employee Retention Strategies in Healthcare: Innovative Employee Engagement Ideas.

Employee Retention Strategies in Healthcare: Innovative Employee Engagement IdeasDownload White Paper Now

Employee Retention Strategies in Healthcare: Innovative Employee Engagement Ideas addresses the following topics:

  • What is Employee Engagement?
  • Employee Engagement Statistics
  • Increasing Return on Investment
  • How to Improve Employee Engagement
  • 3 Methods to Measure Employee Engagement
  • Employee Satisfaction Survey
  • 25 Employee Engagement Questions
  • Employee Retention Plan
  • 10 Employee Engagement Best Practices

 

Developing an Employee Retention Plan

Once you have rated your organization’s engagement, work on increasing the Employee Retention Value, Retention Rate and Satisfaction Survey. In other words, develop an Employee Retention Plan.

But, how?

Employee Motivation

Let’s face it… the great majority of employees are quite enthusiastic when they start a new job. But research finds that in about 85% of companies, employees’ morale sharply declines after their first six months—and continues to deteriorate for years afterward.

In our white paper, you’ll learn the 3 key goals of maintaining morale in the workplace.

Employee Engagement Ideas

In addition to increasing employee motivation, Employee Retention Strategies in Healthcare: Innovative Employee Engagement Ideas, expounds on the latest research and the most effective employee engagement ideas in healthcare:

#1 Encouraging Learning

#2 Reminding Your Employees of your Company’s Mission and Values

#3 Celebrating Achievements

10 Employee Engagement Best Practices

Beyond training programs, consider a deeper investment in your employees. That is, invest psychologically and socially. This type of investment will drive employees to stay motivated, to perform at a high level, and to contribute to your organizational success. Companies that thrive on employee engagement understand that motivating high performance and aligning talent with business strategy requires getting to the heart of what matters to employees. In our white paper, Employee Retention Strategies in Healthcare: Innovative Employee Engagement Ideas, you’ll learn 10 Employee Engagement Best Practices that will help you build an atmosphere of productivity and creativity, while maximizing your profits.

Want profitability and professional growth? Download our free white paper, Employee Retention Strategies in Healthcare: Innovative Employee Engagement Ideas.

Employee Retention Strategies in Healthcare: Innovative Employee Engagement IdeasDownload White Paper Now

Employee Retention Strategies in Healthcare: Innovative Employee Engagement Ideas addresses the following topics:

  • What is Employee Engagement?
  • Employee Engagement Statistics
  • Increasing Return on Investment
  • How to Improve Employee Engagement
  • 3 Methods to Measure Employee Engagement
  • Employee Satisfaction Survey
  • 25 Employee Engagement Questions
  • Employee Retention Plan
  • 10 Employee Engagement Best Practices

 

References:

[1] Sherwood, R. (2013, October 30). Employee Engagement Drives Health Care Quality and Financial Returns. Retrieved April 14, 2015, from https://hbr.org/2013/10/employee-engagement-drives-health-care-quality-and-financial-returns/

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