Future-Proof Your Team: Reducing Turnover in Healthcare
In an environment where close to a third (31.4%) of all new hires leave within a year,1 healthcare HR teams are tasked with finding ways to improve retention and accelerate hiring.
We sat down with three experts from the healthcare field to see how their teams have experienced an increase of up to 54 days of employee tenure and quicker hiring cycles.
Our panel included:
Samantha Loy, Owner of Always Best Care Burlington
Tammy Schafer, COO of Heritage Senior Living
Lauren King, Healthcare Talent Consultant with Three Sail Talent
Host a Staff Roundtable
One of the most impactful strategies discussed was hosting staff roundtable discussions. These sessions allow your team to gain insight directly from employees and address needs quickly.
After hosting a roundtable discussion with her staff, Samantha Loy, Owner of Always Best Care Burlington, learned that the number one request was a benefit to help staff address financial stress.
Since implementing Immediate, she’s heard from staff that on-demand pay access has significantly reduced their financial concerns.
Harness the Power of Referrals
Employees are often the best advocates for their workplace. Samantha and Tammy Schafer, COO at Heritage Senior Living, emphasized how offering attractive benefits, such as on-demand pay, boosted morale among current staff and served as a powerful recruitment tool.
At both organizations, prospective staff mentioned on-demand pay as a driver to go through the application process, having heard about it from friends and family currently employed by Heritage and ABC Burlington.
Tammy noted how this financial flexibility has been particularly attractive to new hires, allowing them to compete more effectively against larger food service or hospitality chains down the street.
On-Demand Pay: Their Most Utilized Benefit
At both organizations, on-demand pay emerged as a game-changer. Both Samantha and Tammy emphasized that Immediate is the most utilized benefit by their employees.
They noted how easy it was to integrate Immediate into their existing systems. With time tracking and payroll integrations, they agreed it was the easiest system they’d experienced implementing.
In an industry as dynamic as healthcare, staying ahead means investing in your most valuable asset – your team.
Ready to Future-Proof Your Team?
By implementing forward-thinking strategies like those discussed in our webinar, you can not only reduce turnover but also create a workplace culture that attracts and retains top talent for years to come.
If you’re interested in the potential of on-demand pay to reduce turnover and enhance your hiring competitiveness, schedule a one-on-one meeting with our team to discover how we can tailor Immediate’s solutions to meet your organization’s needs.