roi recruitment. reten,on. revenue. cri,cal success factors for …€¦ · determine the benchmark...
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ROI Recruitment.Reten,on.Revenue.Cri,calSuccessFactorsforGrowthandROI
ROI Recruitment.Reten,on.Revenue.Cri,calSuccessFactorsforGrowthandROI
WHATBESTPRACTICESDRIVERETURNONYOURINVESTMENTINRECRUITINGPHYSICIANS?Inves'nginbestprac'cesmakes“dollarsandsense,”when$1millioninannualrevenueperphysicianisatstake.
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ROI Recruitment.Reten,on.Revenue.Cri,calSuccessFactorsforGrowthandROI
Iden'fykeyperformanceindicatorsformeasuringtheefficiencyofyourrecruitmentprogram.
ONEDefineaccountabiliGesforleadershipandrecruitmentteamsthatimpact'metofillandreten'on.
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DeterminethebenchmarkdatapointsforbuildingyourROImodel.THREE
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ROI Recruitment.Reten,on.Revenue.Cri,calSuccessFactorsforGrowthandROI
WhatistheKeytoROI?
RECRUITEFFICIENTLY
RECRUITTORETAIN
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FasterFillswithPhysiciansWhoFit!
ROI Recruitment.Reten,on.Revenue.Cri,calSuccessFactorsforGrowthandROI
BeFastandStrategic
§ StreamlinetheProcess§ ShortentheSearch§ ControlyourExpenses
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Source:MGMA,FamilyMedicinephysicianrevenueapprox.$1millionperyear
Accelera'ngaSearchby30days=$80,000+inRevenue
ROI Recruitment.Reten,on.Revenue.Cri,calSuccessFactorsforGrowthandROI
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JobOpportunityPreferences
MMSSource:2017RecruiterPhysiciansSurvey;www.mmslists.com
ROI Recruitment.Reten,on.Revenue.Cri,calSuccessFactorsforGrowthandROI
RiseAbovetheNoise
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ROI Recruitment.Reten,on.Revenue.Cri,calSuccessFactorsforGrowthandROI
UseSocialMediatogetNo'cedbyPassiveCandidates
Source:MDigitalLife
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…ofphysicians’mostpopularsocialmediaac'vi'esarefollowingcolleagues’discussions
60%
…ofdoctorsareusingsocialmediaforprofessionalservices66%
…ofhealthcareprofessionalsusesocialmediaforprofessionalnetworkinganddevelopment31%
ROI Recruitment.Reten,on.Revenue.Cri,calSuccessFactorsforGrowthandROI
MakeRecrui'ngaTopPriority
RecognizePhysiciansandAdvancedPrac'ceProfessionalsarethe#1AssetoftheHospital
MakeRecruitmentandReten'onaPriority
DevelopaReten'onCulture
BuildFounda'onofTransparencyandTrust
WorkwithRecruitertoOp'mizeStrategy
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ROI Recruitment.Reten,on.Revenue.Cri,calSuccessFactorsforGrowthandROI
ü RecruitAggressivelyü DragaWinningInterview
Team
ü PayCloseAhen'ontoTimelines
ü BeFlexible
ü ThinkOutsidetheBoxü BePreparedtoMakea
Decision
ü MakeYourRecruiterYourBestAlly
ü EngageLeadership
BeStrategic&AgileinRecruitment
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HowToWinTopPhysicianTalent:
ROI Recruitment.Reten,on.Revenue.Cri,calSuccessFactorsforGrowthandROI
“Myrecruiterputtogethertheperfectfit.Heexpeditedtheprocess,anditwentmuchfasterandmoresmoothlythanIhadan<cipated.”
PersonalizetheCandidateExperience
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ROI Recruitment.Reten,on.Revenue.Cri,calSuccessFactorsforGrowthandROI
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Administra'onMedicalStaffPlanning• Posi'onAc'va'on• SearchFirmEngagement
• Marke'ngPlan
PhysicianRecruitment• CandidateAcquisi'on
• PhoneScreening
PhysicianChampions• PhoneInterview• Referencechecks
CEOandVPofPhysicianPrac'ceManagement• InterviewIncludesOne-to-OnewithPhysicianChampions
• Evalua'on• Hiring
SampleRecruitment&Reten'onProcess
ShareScreeningData
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ROI Recruitment.Reten,on.Revenue.Cri,calSuccessFactorsforGrowthandROI
CreateaCultureofReten'on
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HelptoCon'nueto
BuildRela'onships
AssistinProfessionalDevelopment
HelpAdjustPersonallytoNew
Environment
RetenGonbeginsduringtherecruitmentprocess
Studiesshowthatthehighestrateofphysicianturnover
occursinthefirstthreeyears,soworkextrahardearlyontohelpphysiciansfit,succeed,
andstay.
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ROI Recruitment.Reten,on.Revenue.Cri,calSuccessFactorsforGrowthandROI
RecruitforReten'onandDriveROI
PLUStheHiddenCostsofHighTurnover§ Orienta'on,creden'alingandtrainingcostsfornewphysicians§ Wastedadministra've'me§ Decreasedproduc'vity,lowmoraleandlostpa'entloyalty
TheRightHire:Recrui'ngcosts:$250,000Searchexpenses,sign-onbonuses,incomeguarantees,reloca'oncosts
TheWrongHire:LostRevenue:$1,000,000+$1,058,055avg.annualrevenueperFamilyMedicinephysician
TurnoverCostsWellOver$1MillionPerPhysician
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Source:MGMA,FamilyMedicinephysicianrevenueapprox.$1millionperyear
ROI Recruitment.Reten,on.Revenue.Cri,calSuccessFactorsforGrowthandROI
Op'mizeReturnonInvestment
BenchmarkRecruitmentMetrics
• TimetoFill:Lessthan60days
• AcceptanceRate:Greaterthan90%• InterviewstoHires:Fewerthan3• RecruitmentROI:InvestmenttoHireovertheRevenueGenerated
ValueoftheRightHirevsCostoftheWrongHire
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ROI Recruitment.Reten,on.Revenue.Cri,calSuccessFactorsforGrowthandROI
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