The Bureau of Labor Statistics had estimated that the healthcare industry would make up the largest share of jobs in the United States by 2020. However, healthcare beat those projections and became the biggest employer in Q4 of 2017, surpassing manufacturing and retail for the first time in American history. (Source: The Atlantic)
The increase in healthcare jobs comes primarily as a result of the aging Baby Boomer generation, further compounded by the expanded insurance coverage under the Affordable Care Act (ACA) and higher standards for care. Despite being the fastest growing industry, the supply of qualified healthcare workers is not expected to keep up with demand, which spells large-scale shortages in talent pools across the US.
A recent Mercer study estimates a nationwide shortage of 446,000 home health aides, 95,000 nursing assistants, and 60,000 medical and clinical laboratory technicians by 2025. (Source: Mercer)
To become a home health aide—also referred to as “home care worker” or the “direct care” of the workforce—typically requires a high school diploma and so presents a lower barrier entry than other healthcare professions like nursing. However, the salary for home health aide workers remains a challenge. The median pay for home care workers currently sits at $11 an hour ($23,000 per year), so employers may need to start adding creative perks and incentives to attract more into the profession.
Related: [ Live Webinar] High-ROI Sourcing: Secrets to Finding Hidden Talent in the Candidate-Scarce Era >> Register now
With unemployment as low as it is, employers must do everything they can to invest in their employer branding to win over talent.
This is especially true in today’s highly competitive healthcare labor market. A survey of HR professionals indicates that extending perks such as career development, flexible working and retirement planning benefits will be most effective to attract the most qualified job seekers. (Source: SHRM)
With experienced nurses retiring at a rapid rate and a shortage of new graduates entering the profession, hospitals, and other healthcare facilities are offering five-figure signing bonuses to hire and retain nursing talent. (Source: CNN)
Social media has given hospitals a channel to engage with the community they serve. Hospitals use social media in various capacities, and in a recent study showing 99% of the hospitals surveyed having a Facebook account, it is clear that social media has become an essential tool for healthcare to leverage. (Source: Healthcare Success)
CVS Health, a CareerArc client, utilizes their Facebook page to support their employer branding and social recruiting efforts. Kerry Noone, Director of Employer Branding and Recruitment Marketing, describes in a recent SHRM piece her Facebook content strategy, saying that her team follows “the lead of what resonates with people and what kind of engagement“ when deciding what content to utilize. Noone shared that her team has seen great success in highlighting job posts and hiring events on top of company culture. (Source: SHRM)
Related: CVS Webinar: How to Communicate Company Values to Attract High-Value Hires
92% of healthcare companies say that employer branding is a powerful tool used to attract talent. Employer branding allows them to set themselves apart from the competition. Despite this, few firms have a dedicated budget for employer branding (43%) or a dedicated role in charge of it (44%). (Source: Health eCareers)
Shortages in talent will pose a number of recruiting challenges for healthcare organizations. In order to combat these shortages, fill positions and attract qualified healthcare professionals, HR leaders must employ innovative ways to reach active and passive job seekers and retain workers as best they can. Here are a few areas to consider.
Prioritizing social recruiting and employer branding empowers firms to reach a candidate who may be gainfully employed elsewhere and compel them to join an organization that offers what they want – be it better benefits, opportunities to grow, or values that align better with them personally.