March 17, 2020

5 reasons why your talent experience is vital to getting the best hires

Experiences have become a hot trend. People now prefer experiences over material belongings and will often share their experiences online through social media. This is fast expanding beyond our social lives to include work as well. With the majority of our week taken up by our jobs, it should come as little surprise that improving the talent experience in your organization will supercharge your recruitment, engagement, and retention.

Employers must focus on how they improve worker lives, jobs and productivity. Especially in healthcare where patient care relies on the experience, stress levels and engagement of staff. In other words, making the lives of healthcare professionals easier (through, say, talent technology that’s built for end-users and career paths tailored to each worker) has a direct impact on patient wellbeing. Read on to discover five reasons why you should boost your talent experience in 2020.

Competing for the best talent

Competition for talent means healthcare firms need to up their game. In the U.S. there will be a shortage of up to 121,900 physicians by 2032 in primary and specialty care. To attract and retain the best talent, organizations must deliver an attractive employer proposition and the easiest way to do this is through improving the talent experience.  

Effective hiring

Hiring talent remains the top concern for CEOs and C-Suite members across all industries. Chief executives now see the unavailability of talent and skills as the biggest threat to their business. Without appropriate talent in the right roles, strategies cannot be implemented. In healthcare, this means the quality of patient care may fall, longer waiting lists, stressed workers and new innovations cannot be launched.

Because of the skills shortage, the time-to-hire has lengthened which is further impacting care and wait times. Plus, it can be resource-intense and time-consuming to sift through lots of applications looking for the best talent. When the talent experience is optimized using technology, however, the entire process becomes more accurate and quicker. Artificial intelligence (AI) for instance, can rapidly match people to opportunities based on their skills and experience.  

Higher retention

Improving the talent experience can engage more employees with the company goals and culture. Highly engaged employees are 87% less likely to leave their employers in the near future, so more of your expert workers will remain with your firm for longer.

It’s worth tailoring the talent experience to their individual life cycle and career phases. If you align work with their skills and career goals, they have an incentive to remain. If a worker is constantly challenged by their role and interested in what they’re working on, they’ll be retained.  

Productivity and improving patient care

Indeed, the most important factor for workers in their talent experience is the feeling that they are making progress every day towards the work that they see as important. This is emphasized in healthcare, where many join to save lives.  

This requires greater alignment between work and skills, a professional’s experience and interests, with available roles. By linking these together, you can create a talent experience that fulfills the desire to change and save lives. Improving patient care because the people with the best skills and experience are working in the right roles.  

Boosting the bottom-line

Of course, that does translate to your bottom-line. Companies with a strong talent experience consistently beat their sector by a margin of two to four percentage points across key performance metrics like return on assets, revenue, profitability, and equity.  

Beyond profit and revenue, it can also improve care and intervention success rates. With happier, more engaged staff caring for patients more effectively because they have been intelligently matched to their role.

Better experience = better talent

These are just some of the reasons to invest in your talent experience. Ultimately, to hire and retain the best talent, you must invest in them. They must feel that you care, above-and-beyond pay packages. By caring about their experience, they’ll be better equipped to care for your patients. It’s a win-win for everybody.