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Employee Retention: How to Keep Your Best Employees

April 14, 2014 by  

Recruiting the right employees and keeping the right employees matters a lot, especially in today’s economy.  Employee turnover is expensive. Employee retention is critical to the long-term health and success of your healthcare organization. This article will explore employee retention, detail its importance in today’s work environment and provide some helpful tips for managers to consider.

According to the Human Resource Management Association, 20.4 percent of healthcare employees (one in five) quit their jobs every year. This number easily exceeds the 12 to 15 percent turnover rate experienced in most other industries. In order to retain employees and reduce turnover, hospital managers must learn to align their goals with the end goals of employees. By aligning the rewards and needs of employees, managers can determine the best system to effectively increase the job satisfaction of their employees.

Here are a few ways you can keep your employees happy and improve your hospital’s retention rate:

Hire and train the right people. Hospitals should regularly review their recruitment practices and review their applicant data to ensure that they are attracting and considering the widest and most diverse possible pool of applicants. It is also important for organizations to recognize the value of knowledgeable management in place for properly their training employees.

Mix it up. Provide a variety of assignments. Identify your employees’ talents and then encourage them to stretch their abilities into new areas. A variety of challenging assignments will help to keep the workplace stimulating.

Have some fun. Celebrate successes and recognize when special milestones are reached. Coffee and donuts for breakfast, potluck lunches, birthday parties, employee picnics and creative contests will help remind people why your hospital is a great place to work.  (see also:  Creating a Fun Place to Work)

Show your appreciation. Recognize outstanding achievements promptly and publicly, but also take time to comment on the small contributions your staff makes every day. Don’t forget these are the people who make you look good!

Employee retention matters. Do not overlook who your hospital’s key performers are. And be sure that your organization is properly engaging those key employees to ensure that they will stay with you for years to come.

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