Hiring the right talent is vital for a streamlined healthcare recruiting experience, creating a pause on one-size-fits-all career positions. The global healthcare staffing market size was reported at USD 36.9 billion in 2021, and is predicted to reach USD 53.9 billion by 2027, at a CAGR of 5.2%.
Source: Mordor Intelligence
Earlier, the COVID-19 pandemic dropped a bombshell on the healthcare recruitment industry, creating high turnover rates, healthcare professionals, and ‘nurses’ burnout. However, the government, hospitals, and the healthcare staffing sector took essential steps to overcome the challenges, stabilizing market economics.
According to the High-Level Commission on Health Employment and Economic Growth, there was a shortage of more than 15 million healthcare staff in 2022, which will increase in the coming years. However, pathways have also been designed to stimulate, guide, and create more than 40 million new opportunities in the coming decade (current statistics reflected according to the pre-post-pandemic impact on the healthcare workforce.)
Additionally, the healthcare industry is taking steps toward sustainability through strategic investments, like routing through the cornerstones of Sustainable Development Goals (SDG), to build a strong, resilient, and safe healthcare system. This target is achieved via planned substantive and tactical ventures in the global healthcare industry through SDG.
As with every industry, healthcare staffing is a competitive market; at present, it is fiercer than ever. Hence, finding the right candidate is tough. The right healthcare recruiting strategy is key to overcoming such challenges and standing out amidst the stiff competition. Concurrently, the United Nations and World Health Assembly (resolution WHA69.19 (2016) and WHA70.6 (2017)) are playing an important role in enhancing the healthcare workforce by adopting the WHO’s Global Strategy to identify opportunities for healthcare workers. It is done by optimizing candidates’ performance and quality, with the right numbers at the right places, to develop national and international health workforce accounts.
With the support of alliance agencies like WHO, the staffing firms must break out from present economic conditions, such as inflation, and the impact of Brexit and the Russia-Ukraine conflict, to prepare for future economic situations, namely the ‘expected ‘recession’ in 2023. In the strategic planning for the future of healthcare recruitment market stability, the following recruiting strategies and sources can be implemented to hire the right talent.
Multi-channel sourcing strategy
Multi-channel sourcing
Attracting the right quality candidates is an all-time priority. Rather than restricting the reach of the applicants to a single source, multi-channel sourcing pushes the needs of the healthcare recruitment company to enhance the hiring velocity. Multi-channel refers to different/several channels, like job boards (Health eCareers, Career Vitals, etc.), social media platforms, etc., with each channel having its strength and practices to tap the quality candidates.
The channel-like job boards, such as LinkedIn, Indeed, etc., will benefit the healthcare recruitment company by broadly focusing on job openings distribution within the niche-specific healthcare sectors. The performance analysis of these job boards can be reflected through the evaluation of the success rate (calculating the total number of quality candidates received).
The recruiters should not only concentrate on job postings but also on enhancing the pace of the follow-up tasks, like receiving and reporting the ‘applicants’ data, reviewing, and other hiring processes. Presently, around 70% of the new applicants and hires are reviewed within 12 hours of submission to the opportunity/job opening, according to Hireology data.
Quality over quantity
The quantity of the hire system revolves around the number of applicants the firm receives, and the quality depends on the candidates it extracts from the data. But the end step for any recruiter is to keep up with more quality candidate screening, interviews, and hires. The better the quality of healthcare professional hiring achieved, the more contribution towards the firm, its clients, and their services.
Our clients realise upto 50% Cost
Savings when they partner with us
Advanced recruiting software
Applicant Tracking System
Currently, the healthcare recruitment industry is stuck in different economic conditions, like inflation. Considering the ongoing shortage of qualified healthcare professionals with highly positioned talent and skills, ‘ ‘there’s a dire requirement to practice the right recruiting strategy through advanced technology, such as recruiting software – Applicant Tracking System (ATS).
By 2027, 90% of the healthcare sector will experience a fall in skilled healthcare professionals at the right time and place, according to Prudential. By 2030, the burnout of more than 100,000 healthcare specialists, physicians, and other professionals may cause poor performance and medical errors, threatening people’s lives. The right recruiting strategy with the right technology, like ATS, will allow healthcare ‘professionals’ talent management to focus on attracting, engaging, and hiring quality candidates in the healthcare industry.
Referral system and future recruitment analysis
The recruiters should practice the technology and mechanism of the referral system, as the structured programmed software enables recruiters to comprehensively manage and track the right talent benefitting the existing employees and enhancing existing networks. The strategies mentioned above can also help in future strategic planning and analysis to overcome impending challenges.
Competitive recruitment strategy
Companies can adopt various recruitment strategies to attract a great talent pool. Such as, with career advancement opportunities, recruiters can share their success stories to add personal touch and credibility; with entry-level hiring, the company can invest in recruiting entry-level college students or rising stars at first, promoting them, and giving them pay raises as they gain experience; and with company growth, the recruiters can showcase the ‘company’s growth prospects and significant competitive advantages. Additionally, recruiting factors, such as salary, significantly shift the ‘applicants’ choice toward various job opportunities. Healthcare recruitment can attract suitable candidates by transparently showcasing company culture and values during job openings on job boards, social media, and career sites.
Outsourcing backs healthcare recruitment strategies
With uncertainty still lingering across the healthcare recruitment industry, several healthcare recruitment companies and their recruiting managers are hesitant to begin costly and lengthy recruitment processes to hire a quality and talented candidate.
These recruitment strategies supported by recruitment outsourcing service providers, like IMS People Possible, can help you reduce your employee burden cost-effectively.
Get in touch with us by writing to info@imspeople.com.
