INDUSTRY PERSPECTIVES Taming the social media beast: How employee identification can bridge recruitment and retention Marc Bowles, Vice President of Marketing, Delta Locum Tenens the 4th Quarter 2013 January 13 - December 13 Blogging, tweeting, and status updates are not new terms to anyone who s had access to the Internet over the last ten years. In fact, as Facebook, Inc. celebrates its tenth anniversary this February, the social networking channel is predicted to hit over 2 billion users, giving voice to users of all age brackets, socioeconomic status, and knowledge base while eliminating geographical barriers across the globe. According to Social Media Examiner s 2013 Social Media Marketing Industry Report, even a large majority of businesses have recognized the legitimacy and importance of social media marketing as 86 percent of surveyed businesses place a high value on social media in their marketing plan. While the concept of social media marketing has been widely accepted, where many professionals struggle is in understanding and identifying what content will add value to their social media efforts. The same report above states that two thirds of businesses that market via social media channels also question the effectiveness of their efforts particularly on Facebook. Additionally, and overwhelming 89 percent of marketers state that increased exposure is the top priority to social media marketing. The challenge is in identifying what to expose and who will champion the communication of this information. As we move further into this digital marketing age, more and more Employee testimony is playing a huge role in influencing evidence has emerged dictating that how potential talent evaluate your culture. customers value employee testimony and peer feedback over advertisement. An online presentation by Liz Bullock, CEO of Social Arts & Science Institute, reports that customers consider an every day employee to be twice as trustworthy as a company s executives, and 90 percent of consumers trust the recommendations of someone they know (versus a scarce 14 percent that trust advertisement). Looking at Facebook s user outreach alone, customers and everyday employees voicing their opinion online now have 2 billion listeners accessible by a few keystrokes. If increased exposure is the ultimate social marketing goal and your employees have the loudest voice online, how does this translate to marketing for healthcare facilities particularly as it relates to recruitment and retention? For the sake of cohesion, let s swap the word company for hiring facility and the word customer for soughtafter talent, and take another look at the statistics above. The things your staff members are communicating online about your facility s culture and values hold double the importance of your direct advertisement efforts. Employee (and patient) testimony is playing a huge role in influencing how potential talent evaluate your culture. Just like any customer researching the authenticity of a product online through feedback from other consumers, potential talent will research the ethics and character of a hiring facility from other providers on staff. Therefore the greatest opportunity to influence your social media health is in clearly marketing your company brand i.e. identifying and communicating your facility s values, mission, and internal culture in whatever way you want to be viewed by potential talent (and potential patients). In other words, how does your social media marketing efforts share the soul of your organization? While you may not have direct control over the opinion (AKA voice) of each member of your staff, you can control the strength of your organization s brand identification and the values your brand supports. All of this can be shared via your organization s social media channels through creative campaigns and transparent, authentic content. Often, the values and culture exhibited on an every day organizational level are reflected in the feedback and voice of staff members, and paralleled through virtual platforms. While there are thousands of resources available to facility representatives and marketers looking to increase their social media strategy, it is important not to become overwhelmed in planning your own marketing strategy. Consider the following Golden Rules as you approach your 2014 strategy, remembering to utilize social media as a channel in recruitment and retention marketing: 1. Always present clear, authentic, and ethical information: By communicating closely with your employees (and patients) on a social media level, you become a trusted source of information, which is a great asset when creating company awareness and brand credibility. It is important to remain aligned with your organization s values in all correspondence, as conflicting social media interactions (particularly from staff members and other testimonials) will result in confusion or distrust under the scrutiny of mass communication. 2. Focus more on showcasing your brand, less on controlling the interpretation of the reader: The goal of recruitment is in finding a provider that will thrive in your organization s culture and environment. Instead of catering a message that will seem attractive or appealing to a potential hire (or patient), own the unique qualities of your organization that set you apart and share them for all to see. When a provider knows where they can fit into your organization, they will be much more inclined to hear and consider your offer of employment. 3. Expand your reach: For many organizations and businesses throughout the country, Facebook seems to be the gateway platform to social media marketing and for good reason. Social Media Examiner s report states Facebook is ranked by 49 percent of marketers as the top platform for social media. LinkedIn (the next highest ranked platform), Twitter, YouTube, and blogging are also excellent resources to communicate your cultural brand, as each provide opportunity for direct communication and feedback. 4. Don t overestimate time requirements and cost: Many facilities not already on the social media train may find the task daunting or overwhelming to start. Social Media Examiner s report found that by spending as little as 6 hours per week on social media marketing, companies saw a 64 percent increase in lead generation benefits. Additionally, social media has steadily taken over traditional print marketing and advertising and provides a great boost to PR efforts without a huge time or monetary commitment. 5. Keep it simple to promote the most interaction: When it comes to developing your social media messaging, brief is best. Tiwtter gives you 140 characters to craft your point never say in a paragraph what can be said in a statement; never state in a post what can be included in a comment. If a picture is worth 1,000 words, a video (YouTube) is worth 100,000. Remember to ask questions, tag employees, and open your channels to all forms of interaction in order to best spread your reach. THE PHYSICIAN RECRUITING
PLACEMENTS & INTERVIEWS Candidate Sources Job Boards 18% PLACEMENTS & INTERVIEWS Placement Data by Specialty This data represents average statistics of placements and interviews by Delta Physician Placement over the twelve-month survey period. Since these averages only include placements and interviews, the compensation information presented indicates the rate at which candidates are choosing to interview or sign. Average days information can be used to forecast a probable timeline for a recruitment effort in a particular specialty. Cold Calls 10% Average Average Days emarketing 52% Direct Mail 10% Websites 2% Referrals 6% Conferences 2% Data indicates sources of candidates for placements and interviews From January 2013 through December 2013. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. No one should act on such information without appropriate counseling and thorough examination of the particular situation. For more information regarding specific specialties, regions, or trends, contact Mary Glover, Vice President of Communications, The Delta Companies at (800) 521-5060 x4144 or mglover@tdcpeople.com Subscription information and an archive of previous versions is available at www.tdcpeople.com/standard. 2013 The Delta Companies Subscribe online @ www.tdcpeople.com/standard Placements by Population 27% 55% 2% 16% <10k 10-50k 50-100k >100k Data indicates the percentage of placements made from January 2013 through December 2013 by the population of the search facility s metropolitan area. Hospital Based Sub-Specialties Surgery Primary Care Starting Sign-on Bonus Potential From Interview to Placement Total Placement Family Medicine $204,101 $20,105 $239,573 28 124 3 Internal Medicine $214,602 $32,500 $280,000 34 74 50 Pediatrics $197,333 $23,000 $233,167 40 184 83 Psychiatry $202,583 $19,545 $234,167 29 161 1 Obstetrics/Gynecology $283,750 $26,250 $393,750 22 131 78 General Surgery $360,625 $31,429 $413,750 31 111 23 Orthopedic Surgery $473,373 $61,667 $616,667 26 174 34 Otolaryngology $450,000 $40,000 $425,000 150 150 125 Urology $449,000 $27,500 $617,442 38 189 87 FM- Obstetrics $235,833 $23,330 $270,000 15 138 42 Neurology $275,000 $10,000 $350,000 6 73 73 Pulmonary Critical Care $350,000 $20,000 $400,000 72 235 235 Gastroenterology $450,000 $45,000 $500,000 78 354 354 Anesthesiology $475,000 $20,000 $525,000 21 26 52 Radiology $350,000 $25,000 $700,000 22 53 53 Hospitalist $228,750 $23,333 $274,417 22 109 65 Emergency Medicine $281,807 $28,500 $318,455 21 141 15 Fastest Days-to-Fill Data reflects averages from placements and interviews by Delta Physician Placement from January 2013 to December 2013. Potential data reflects average yearly compensation at full production excluding benefits. Average Days data does not include off-contract placements. Average Days Total Placement data is calculated from profile to placement.
MARKET DEMAND Nationwide Search Distribution 5.3% 11.3% LOCUM TENENS Days Requested - Top Specialties 9.0% 0.7% 9.3% 4.7% 15.0% 5.7% 3.7% 2.7% 1.0% 0.7% 4.7% Emergency Medicine 13.8% 25.8% Hospitalist 4.3% 12.0% 8.7% 1.3% Family Medicine 13.3% Map represents searches initiated by Delta Physician Placement on behalf of healthcare facilities from January 2013 through December 2013. Specialty Demand Comparison 4 th Quarter 2013 4 th Quarter 2012 Search Specialty Distribution Primary Care 61% 10.0% 29.6% Nurse Practitioner 7.5% All other specialties Urgent Care Data indicates the top specialties by days requested from January 2013 through December 2013. 1. Family Medicine Family Medicine 2. Internal Medicine Hospitalist 3. Neurology Emergency Medicine 4. Emergency Medicine General Surgery 5. Family Medicine - Obstetrics Pediatrics 6. Orthopedic Surgery Family Medicine - Obstetrics 7. Hospitalist Internal Medicine 8. Pediatrics Orthopedic Surgery 9. Psychiatry Chief of Medicine 10. Vasculary Surgery Endocrinology 11. Cardiology - Interventional Neurology 12. Critcial Care Medicine Obstetrics and Gynecology 13. Endocrinology Occupational Medicine 14. General Practice Pain Management 15. Obstetrics and Gynecology Pathology Data compares the top 15 most requested searches initiated by Delta Physician Placement, comparing the 4 th quarters of 2012 and 2013. Hospital-Based 13% Sub-Specialties 14% Surgery 12% Data indicates the percentage of searches initiated by specialty grouping between January 2013 and December 2013. Candidate Placements Top 5 States Providers Have Taken New Opportunities 1. Texas 2. Iowa 3. North Carolina 4. Montana 5. Louisiana Compares all states for the top 5 candidate placements as initiated by Delta Physician Placement from January 2013 through December 2013. Nationwide Physician Distribution 5.4% 1.7% 2.2% 9.0% 5.6% 6.5% 7.9% 9.1% 5.6% 6.9% 8.2% 3.8% 5.1% 1.5% 7.0% 5.0% 9.3% Map represents the percentage of licensed physicians by region working with Delta Locum Tenens.
INDUSTRY PERSPECTIVES Boosting recruitment and retention Utilizing a retention bonus to attract top talent in 2014 Ray Hostetler, Perm Recruiting Team Lead, Delta Healthcare Providers As the war to employ top talent rages forward and into 2014, healthcare facilities throughout the nation are reaching into their strategic arsenals to emerge as viable and attractive victors in the battle for the best recruits. Several facilities with leading offers have adopted a creative approach to recruitment, tailoring their employment packages to fit the needs of a preferred candidate, which helps to stand out among the influx of other available opportunities flooding the market. Among their armory: signing bonuses, student loan repayment, relocation packages, and housing assistance all effective recruitment tools to attract prime talent. W h i l e o f f e r i n g Offering a retention bonus during the recruitment process is an effective tool to help distinguish one hiring facility among the influx of other offers. a creative employment package can be a helpful aid in the recruitment process, some incentives can also have long term benefits for both a hiring facility and sought-after candidate. An effective tool that can help distinguish one offer package above the rest is the inclusion of a retention bonus for qualified providers. Physician and executive level positions have successfully utilized this technique in the past; the incentive of a retention bonus can benefit all sectors of the healthcare industry. A major concern to employees in any profession is the longevity of their position and maintaining a reasonable sense of job security in their role. While offering a retention bonus does not guarantee a potential candidate advancement in their role, it is an effective motivation to stay put and a sign of good faith on behalf of the hiring facility that the provider will achieve financial advancement for the first few years of their tenure. Not only does the motivation of a bonus boost retention rates, which saves time and money that would otherwise be spent toward the continual recruitment and onboarding of a new provider, but is also an effective marketing strategy to target candidates of all experience levels. Making the incentive of a retention bonus known up front can give your offer a competitive edge toward new graduates looking to repay student loans, as well as experienced providers (who wouldn t necessarily require student loan repayment) that will benefit from a guaranteed bonus over time. For example, by offering a 3-year guaranteed retention package to incoming talent, one Delta Healthcare Provider client obtained 3 successful placements in 2013 each attracting providers with over 20 years of relevant experience. In this particular case, a retention bonus was offered in place of student loan repayment, with the intention of targeting experienced candidates. While offering student loan repayment can be a very effective recruitment incentive, it often limits a facility s targeted audience to providers with student loan debt i.e. new graduates. For those providers out of school and consequently out of student load debt, a retention bonus can be an effective alternative. Frequency and size of a retention bonus will vary depending on the unique requirements of each facility. In the case mentioned above, the Delta Healthcare Providers client actually utilizes the bonus incentive to save overall spending on hiring new talent. This facility offers a $5,000 annual bonus for the first three years of employment, and when spread out across the span of a year, the bonus equates to an additional $2.40 per hour, per provider. If offered this additional income as a starting salary from a competing facility, a couple of extra dollars per hour may not be enough to motive a provider to jump ship to another facility. An additional $5,000 per year may, however, be a considerable enough incentive to compensate the same provider for their continued tenure, and reward them for their loyalty to your facility. In working to develop an offer that will give your facility the competitive advantage it needs to attract top talent, it is important to determine what fits the needs of your facility and the needs of your targeted candidate pool. The inclusion of a retention bonus may serve as an innovative and mutually beneficial blend of both of these needs, strengthening your fight in the battle for quality talent. MARKET DEMAND Nationwide Search Distribution 12.6% 4.8% 10.2% 9.4% 3.0% 2.7% 14.8% 10.8% 4.3% 0.8% 4.8% 7.5% 4.0% 0.5% Map represents searches initiated by Delta Healthcare Providers on behalf of healthcare facilities from January 2013 through December 2013. Top 5 States Providers Have Taken New Opportunities 1. Texas 4. New Mexico 2. Iowa 5. Georgia 3. Alaska Specialty Demand Comparison 4 th Quarter 2013 4 th Quarter 2012 1. Physical Therapist Physical Therapist 2. Nurse Practitioner Nurse Practitioner 3. Physician Assistant Registered Nurse 4. Occupational Therapist Occupational Therapist 5. Registered Nurse Health Information Management Data compares the top 5 most requested searches initiated by Delta Healthcare Providers in the 4 th quarters of 2012 and 2013. Candidate Placements Compares all states for the top 5 candidate placements as initiated by Delta Healthcare Providers from January 2013 through December 2013. PLACEMENTS & INTERVIEWS 26% 44% 7% Placements by Population 23% <10k 10-50k 50-100k >100k Years of Experience 36% 22% 11% 31% < 2 Years 2-5 Years 6-10 Years > 10 Years THE HEALTHCARE RECRUITING Data indicates the percentage of placements made from January 2013 through December 2013 by the population of the search facility s metropolitan area. Data indicates the average years of experience of candidates for placements and interviews from January 2013 through December 2013.
PLACEMENTS & INTERVIEWS Placement Data by Specialty STAFFING Assignments by Specialty Top Licensure States This data represents average statistics of placements and interviews by Delta Healthcare Providers over the twelve-month survey period. Since these averages only include placements and interviews, the compensation information presented is an indicator of the rate at which candidates are choosing to interview or sign. Average days information can be used to forecast a probable timeline for a recruitment effort in a particular specialty. Average Average Days Specialty Average Length Contract to Start Date Average Length of Assignment Occupational Therapist 5 Weeks 10 Weeks Occupational Therapy Assistant 1 Week 13 Weeks Physical Therapist 5 Weeks 10 Weeks 22% Allied/Other Extenders Rehabilitation Starting Sign-on Bonus Student Loan Repayment Relocation Reimbursement From Interview to Placement Total Placement PT $82,243 $8,778 $33,250 $3,641 9 80 1 OT $74,953 $8,280 $11,550 $4,000 11 77 9 SLP $76,872 $7,667 - $5,750 2 13 7 NP $102,400 $6,984 $31,857 $6,931 13 76 3 Fastest Days-to-Fill PA $117,722 $5,750 $54,333 $4,429 11 72 19 RN $66,056 $6,111 $12,000 $5,045 9 64 15 MT $52,720 $2,000 - $2,667 8 52 19 Physical Therapy Assistant 3 Weeks 11 Weeks Speech Language Pathologist 4 Weeks 11 Weeks Data is compiled from assignments placed by Delta Healthcare Providers from October 2013 through December 2013. Facility Demographics All Outpatient All Inpatient Outpatient / Inpatient 16% All Home Health Practice Settings 11% Inpatient / Skilled Nursing 10% Skilled Nursing 100-200 29% >200 23% <10k 14% 10k-50k 37% Years of Experience 9% 11% 40% 7% 33% <100 48% Number of Beds >100k 36% 13% 50k-100k Community Population Map represents top licensure states by Delta Healthcare Providers on behalf of healthcare facilities from October 2013 through December 2013. Licenses Per Quarter PTA 5% Licensure Cost Specialty SLP OT 50% PT 28% percentage of licenses granted per specialty Endorsements 100% Licensure Requests per New Graduate vs. Endorsement Data is compiled from assignments placed by Delta Healthcare Providers from October 2013 through December 2013. Avg. Cost of Licensure Physical Therapist $195.00 Physical Therapy Assistant $241.63 Data reflects averages from placements and interviews by Delta Healthcare Providers from January 2013 through December 2013. Average data reflects average yearly compensation for each position listed above. Average Days data does not include off-contract placements. New Grads < 2 Years 2-5 Years 6-10 Years > 10 Years Occupational Therapist $242.50 Speech Language Pathologist $178.53 Data is compiled from assignments placed by Delta Healthcare Providers from October 2013 through December 2013. Data is compiled from assignments placed by Delta Healthcare Providers from October 2013 through December 2013.