Becker's Hospital Review

28 28 CEO/STRATEGY Hospitals Face Unprecedented Turnover, Attrition Rates: 4 Survey Findings By Tamara Rosin H ospitals today are facing higher turn- over and attrition rates than ever before, according to a survey report from Leaders for Today, a hospital manage- ment staffing firm. What's more, increasing turnover isn't limited to certain healthcare jobs — it is affecting every role from the C-suite to the front desk and the front lines. Survey data from LFT show hospitals will need to replace nearly half of their staff every five years. is challenge is compounded by a shrinking talent pool as more hospital em- ployees retire. "is study confirmed what is the worst-case scenario for many hospitals, they are losing critical employees faster than they can replace them," said Bill Haylon, CEO of LFT. "e av- erage hospital has hundreds of open positions at any one time. How confident would you be in going to one of these facilities for care knowing they are so short-staffed at import- ant positions?" e report includes survey responses from 852 participants, including C-suite execu- tives, clinical and non-clinical administra- tion, staff physicians and staff nurses. e survey was administered in April 2017 to hospital workers across the nation. Here are four main takeaways from the survey. 1. Continuity in hospital employment is lacking. Nearly 43 percent of respondents reported they have been with their current hospital for fewer than two years and 65.7 percent said they have been with their hospi- tal for fewer than five years. More than one-third (37 percent) of respon- dents plan to leave their current organization within the next two years, and 68.6 percent plan to leave within five years. e rapid pace at which all hospital employees are switching jobs is widening the knowledge gap. 2. The current hospital environment promotes high turnover. More than a quarter (27.4 percent) of respondents le their job for a promotion or a better opportunity for advancement. Another 14.4 percent le for better compensation. e largest proportion (58.2 percent) le for other reasons, such as long work hours, frustration and burnout. 3. The growing proportion of retiring employees poses an additional chal- lenge. As the workforce ages, hospitals are looking at a significantly smaller pool of experi- enced talent to fill retirees' positions. e survey found 47.7 percent of respondents indicated they plan to retire within the next decade, while 22.1 percent expect to retire within five years. 4. The hospital hiring process needs a tune up. According to LFT, it appears that hospitals frequently lose candidates who land job opportunities more quickly elsewhere. Respondents cited speed and transparency as the top two frustrations with the hiring pro- cess. LFT suggests hospitals will be the most competitive for attracting top talent if they can optimize the hiring process and move quickly. n UW Medicine Hospital Cuts 60 Jobs Including COO, VPs By Morgan Haefner R enton, Wash.-based Valley Medical Center, a part of Seat- tle-based UW Medicine, reduced its workforce by 60 positions, or about 1 percent, to combat lower reimbursements, accord- ing to a Kent Reporter report. Here are four things to know. 1. VMC eliminated its COO position and two vice president positions in the reduction. 2. Liz Nolan, vice president of marketing, outreach and wellness at VMC, told Kent Reporter the hospital witnessed a large patient volume shift be- ginning in August. She said the "rapidly changing volumes caused signifi- cant turbulence in our budget, and just as our patient volumes exploded, Medicare became our top insurance payer." 3. VMC said 42 of the 60 affected employees will likely move to a dif- ferent position at the hospital. The hospital also instituted a voluntary early retirement and separation incentive program, the report states. 4. VMC will also close its Newcastle (Wash.) Urgent Care clinic, restruc- ture its assistant nurse manager positions, consolidate clinic imaging services and streamline several business lines like supply chain, clinic billing and finance. n Baylor Scott and White Eliminates 100 Positions By Mackenzie Bean D allas-based Baylor Scott and White Health on May 26 confirmed it cut 100 positions, or less than 0.5 percent of the system's total workforce, reports The Dal- las Morning News. Here are three things to know. 1. The health system did not divulge which de- partments were affected by the job cuts, but said the positions do not directly affect patient care, according to the report. 2. Baylor Scott and White will spend the next month finding new positions within the health system for affected employees. The system will continue to pay salaries and offer full benefits during this time, according to the report. 3. The health system said it is "always looking for opportunities to operate more efficiently while maintaining the same high level of care," according to The Dallas Morning News. n

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