5110 Maryland Way, Suite 200, Brentwood, TN 615.309.6053 www.healthtechs3.com 2745 North Dallas Pkwy, Suite 100, Dallas, TX 800.228.0647 www.gaffeythealthcare.com Community hospital partner of choice Providing experienced professionals for more than 45 years to improve financial and clinical performance, reduce costs, increase patient and community engagement.
Nationwide Client Base Currently provides hospital management, consulting services and technology to: Preferred vendor to: • California Critical Access Hospital Network • Western Healthcare Alliance • Partner with Illinois Critical Access Hospital Network • Vizient Group Purchasing Organization • Serving community, district, non-profit and critical access hospitals • Example managed hospital client includes Barrett Hospital and Healthcare in Dillon, MT. Ranked as a Top 100 Critical Access Hospital for 8 years in a row • Example technology and AR services client includes two-hospital NFP system in southeast GA with numerous associated physician practices
Areas of Expertise Strategy – Solutions - Support Governance & Strategy Finance • Performance optimization & margin improvement • Revenue cycle & business office improvement • AR outsourcing • Executive management & leadership development • Community health needs assessment • Lean culture Recruitment Clinical Care & Operations • Executive and interim recruitment • CEOs, CFOs, CNOs • VP and Department Directors • Continuous survey readiness • Care coordination • Swing bed consulting
10 Things Unsuccessful Recruiters Do Insufficient planning – must be diligent at every step of process from position description to candidate sourcing to interviewing to client presentation Unclear understanding of open position – incorrect or vague job descriptions will not attract proper candidates and lack of position context will not keep strong candidates in the pipeline. Not knowing the financial strength of the hospital Unclear understanding of candidate skills/experience – must ask probing questions into a candidate’s work history, job experience, training and school to understand potential fit Not asking right questions – if you don’t know, ask. If you think you know, ask to clarify. Particularly in highly-specialized fields such as medicine and technology, it is important to not overestimate your knowledge Mis-advertising – know who potential applicants are and post job description where it will be most visible to them
10 Things Unsuccessful Recruiters Do (Cont.) Inadequate use of online resources – consider the process from job posting to single application to profile updates; ensure ease of process for candidates Not emphasizing company or hospital mission, culture, etc. – a candidate may be interested in a job or opportunity but they’ll stay for the organization Poor communications – multiple recruiters on the sample job; text, email and phone in the beginning and then nothing for weeks – how should a candidate or client know what to expect Not following up on feedback – if a candidate or client has provided ANY type of feedback, put it into action if within your control Lack of candidate and client diligence – don’t give up!
Most Valuable Company Brands “Amazon has overtaken Google and Apple to become the world’s most valuable brand at $315.5 billion, according to a ranking of global companies, up 52% on last year.” CNBC as of June 2019 $309B $310B “If you want to hire great people, you have to see recruiting as a sales and marketing activity, because that's what it is.” Liz Ryan, Forbes $159B $130B Candidate = Customer
What Do These Companies Teach Us Your brand has reached a candidate LONG before they enter the doors of your hospital or clinic • It’s more than your website, marketing materials or social media pages • It communicates who you are as a healthcare provider or services company AND how you interact with your community • It’s a core piece of your culture – what you support and encourage, benefits, work environment, opportunities for growth, management styles, etc. • E-commerce site Zappos has developed a unique and exceptional brand, shaping themselves as a service company that happens to sell shoes
The Case For An Employment Brand Research from the Bureau of Labor Statistics shows that more jobs are becoming available at the same time fewer candidates are entering the job market The ratio of unemployed persons per job in July 2009 was 6.4:1 and declined to a low of 0.8:1 in late 2018
The Case For An Employment Brand (Cont.) • In April 2019, there were 5.9M hires, a series high, and 5.6M total separations • Hires have exceeded separations since February 2011, consistent with the rise in employment over the same period
Value of An Employment Brand • Creates excitement about working for your hospital or clinic • Paints an immediate picture – e.g., home, balance, learning, etc. • Attracts the right type of talent • Prevents competing on compensation alone • Sets expectations about what it is like to work for and be successful within the hospital • Reduces employee turnover • Paying the highest salary is not a viable, long-term strategy. Often candidates will take less money to work for a company with a strong regional or national brand
Employer Branding Statistics • 96% of companies believe employer brand and reputation can positively or negatively impact revenue, yet less than half (44%) monitor that impact (CareerArc) • 78% of job candidates say the overall candidate experience they get is an indicator of how a company or hospital values its people (Talent Adore) and what it will be like to work there. • When making a decision on where to apply for a job, 84% of job seekers say the reputation of a company as an employer is important (TalentNow) • 9 out of 10 candidates would apply for a job when it’s from an employer brand that’s actively maintained (Workable) • 50% of candidates say they wouldn’t work for a company or hospital with a bad reputation – even for a pay increase (TalentNow) • Employee turnover can be reduced by 28% by investing in employer brand (Office Vibe) • 62% of Glassdoor users agree their perception of a company improves after seeing an employer respond to a review (Glassdoor) • 64% of consumers have stopped purchasing a brand after hearing news of that company’s poor employee treatment (CareerArc)
Link Between Branding and Revenue • Lower Recruiting Costs • SHRM’s 2016 Human Capital Benchmarking Report calculates average cost to hire a new employee to be $4,129 with job postings taking 40-45 days to fill. And generally longer for hospital positions • When candidates decide to work for you as a result of your brand, less time and resources can be used over the long-term. The fit is better. They want to stay • If your candidate pipeline is not strong, the employment brand strategy may need improvements or an overhaul -- RN’s especially
Link Between Branding and Revenue (Cont.) • Rapid Onboarding and Productivity • MIT Sloan Management coined rapid onboarding to describe a process for new employees to be more productive in a shorter timeframe. Labor shortages at hospitals are so acute that this can be critical • It is estimated to take 10-30 weeks for an employee to be completely comfortable in their new role; longer for senior management positions such as CFO, CNO and CIO, which has a decreased tenure within hospitals • Hundred5 suggests an average company loses anywhere 1-2.5% of total revenue to bring a new hire up to speed -- onboarding and training as well as ongoing mentoring. Especially true for clinical positions • Mentoring remains critical but is undergoing a paradigm shift. Today it is more bi-directional where both parties learn from each other
Link Between Branding and Revenue (Cont.) • Improved Hires • According to Brandon Hall Group and Kronos’s 2015 “The True Cost of a Bad Hire” report, organizations with strong recruiting brands are 3X more likely to make quality hires • According to Harvard Business Review and a study conducted by Bain & Co. in 2017, ~15% of a company’s staff are A players or “stars” – that’s 1 in 7 employees. In hospitals, the Senior Leadership Team averages 60-70% A players • These employees generally possess several common attributes, including: self-motivated, highly competent, patient focused, strong physician relations, strong communicator, takes ownership, dynamic and adaptable, and a team player
An Employment Brand Assessment • Self-Assessment of your hospital brand • Why did you join the hospital? • What do you enjoy most about your role? • Are you sharing this with others including patients, candidates, and the community? • Employee Assessment • Do you receive employee referrals? • What do your employees tell their friends and prospective candidates about working for your hospital? What do physicians say? • When an employee leaves, what is shared in their exit interview? • Candidate Survey • Why did they apply to an open position? Their perception of you? • What components other than the job description appeal to them? Impressions of you before they applied. Did they speak to a human?
An Employment Brand Assessment (Cont.) • The Application and Online Experience • Are there engaging visuals on the main page, maybe cultural videos or images with RN staff, physicians and employees at work and with patients? • What is the user experience like for the application process on your careers page? To test this, pick 10 to 20 people at random and have them apply for various openings. How do you compare to other hospitals? • Is your careers page optimized for Google and other major search engines? • Are social media initiatives incorporated into current job openings? Creating opportunities for people to share openings on social platforms can help candidates stay connected with organizational news and events at your company • Is your careers page optimized for mobile devices? Many candidates now apply for jobs solely through their mobile devices, so by not mobile-optimizing your careers page you could be missing out on an entire pool of candidates
10 Opportunities To Improve Your Brand Provided by LaunchPad • Define Your Message • Create an authentic message and tone of voice so candidates know what to expect. Be very welcoming • Make sure the brand voice is consistent at every touch-point – e.g., careers website, advertising, social media, job descriptions, etc. • Nurture Your Culture • Zappos offers all trainees $2,000 to quit after the first week of training because they want only those who absolutely love the company culture to stay • Companies and hospitals with a strong culture and engaged employees outperform their competitors by estimated 20% • Understand Brand Perception • Glassdoor reports that 70% of people look at reviews before they make career decisions • Examine all available platforms -- Facebook, LinkedIn, Twitter, Glassdoor – to see what is being said and what changes need to occur
10 Opportunities To Improve Your Brand Provided by LaunchPad • Build Hospital Brand Advocacy • 84 percent of people trust peer-to-peer recommendations over any other form of advertising according to marketing magazine, the Drum • All employees are responsible for supporting the employment brand though with direction provided on how to execute best on social media platforms • Embrace Technology • Yes!! Yes!! • Technology can be used to streamline and improve all points in the candidate process from job search to interview scheduling to employer feedback • Treat Candidates Like your Patients • Patient satisfaction and employee engagement are becoming strategic drivers • Candidates will likely research an organization’s application process, communication style, and work expectations before they proceed with an interview
10 Opportunities To Improve Your Brand Provided by LaunchPad • Use Storytelling • Make your brand personal. Ask a staff nurse to discuss a typical day. • Use real employees to engage candidates and help them identify with whether they can create similar stories at the organization. Ask a physician to discuss their perceptions. Why does he or she use this particular hospital? • Add Depth • Provide an appealing vision that inspires people can often be best accomplished visually with photography, imagery or video • Some companies use tools like chatbots for helping candidates get answers to their questions or hosting online chats about careers • Own Your Space • Make sure you are where your target talent is whether it is LinkedIn, Facebook, Instagram, Pinterest or healthcare specific media-- make your impact in the right places • Connect Employer and Corporate Brand
A New HR Role: The Branding Specialist Experienced in positioning companies as great places to work in order to attract, engage, and hire the best talent • Per The Greenhouse Blog – “Responsible for identifying what makes the company attractive to candidates; highlighting key differentiators that set the company apart from competitors; leveraging candidate-facing communications, social media, and video to convey the corporate culture and employee experience; developing and projecting the employee value proposition; partnering with recruiting leaders and hiring managers to develop sourcing strategies to meet current and future hiring needs.”
Thank You and Contact Us! HealthTechS3 GAFFEY Healthcare 5110 Maryland Way, Suite 200 Brentwood, TN 615.309.6053 www.healthtechs3.com 2745 North Dallas Parkway, Suite 100 Plano, TX 800.228.0647 www.gaffeyhealth.com Presenters Peter.firstname.lastname@example.org Jennifer.email@example.com