Retaining Your Best Staff
“At a time when the US Bureau of Labor Statistics projects that we need 1.1 million additional nurses in order to avoid a further shortage and tens of thousands of Baby Boomer nurses planning to retire in the coming years, we simply cannot afford to lose the nurses we already have -- and particularly those in the early stages of their careers.“ - Dan Weberg
In May of 2020, early warning signs of mental health struggles and lack of support complaints surfaced from all levels of the healthcare industry. It is likely that these mental health issues were already present long before we experienced the crisis of the pandemic. Nearly 18 months later those warning cries have led to reports of severe mental health struggles and healthcare workers leaving the industry permanently, with our younger members more apt to leave. High turnover rates can be costly and lower the company’s knowledge base, the team’s morale, and overall productivity. Millennial nurses are particularly at risk for turnover. Although they tend to be engaged, they are more likely to move to a new role due to available opportunities. Before the pandemic between 17.5 and 30 percent of new graduate nurses left their first job within the first year and 33.5 to 57 percent of new graduate nurses left within the first two to three years. Now, nurses who didn’t plan on leaving the industry at all, are. In droves.
There are a variety of reasons healthcare workers are leaving their posts. Lack of educational training and poor up- and re-skilling opportunities, absence of leadership support, disengagement and diminished job satisfaction, limited staffing availability and oppressive overtime, restricted or lack of job growth, overloaded and stressful patient workloads, managerial disputes, toxic work environments, low salary, and unsupportive coworkers, just to name a few. However, one of the biggest causes for early attrition is poor orientation programs. Organizations with developed onboarding programs were far more likely to retain their nurses beyond the initial 2 years.
Now is the time to stop the great resignation from crippling the healthcare system by developing sustainable strategies to retain and hire appropriate personnel for the roles they will fill.
Developing a Retention Plan
As we see it, there are three universal needs that motivate us all: the need to experience some element of control to provide us with a sense of security (autonomy), we have a need to master tasks and skills (competence), and we need a sense of belonging as well as positive relationships with our co-workers (relatedness). These three universal needs should be considered when creating a retention plan.
A few of the critical reasons employees reportedly stay include a healthy work environment, a known rewards and recognition policy, flexibility in work hours, hybrid work environments, growth and development opportunities, and competitive compensation packages. However, one of the biggest ties to turnover is a managerial issue. If a manager is too controlling and micromanages, is unfair or demanding, or fails to lead effectively, their team is at risk for leaving. Managers that provide career guidance, safe work environments, and the freedom to do one’s work without tight oversight, have a greater chance of retaining their employees and attracting new ones. Training managers to properly lead and do so with the three universal needs as a framework for employee engagement will help improve staff retention.
Staff retention strategies should also consider including the following:
Hire for an organizational cultural fit.
Create hybrid workplace opportunities.
Reward efforts and results.
Recognize employee physical and mental health as a top priority.
Help employees create meaningful connections.
Create an environment that promotes psychological safety.
Encourage mentoring programs.
Alter work responsibilities to reduce monotony.
Ensure breaks and lunchtime are protected.
Encourage transparent and open communication.
Be clear about career growth opportunities.
Develop a practice of transparent and supportive feedback.
Encourage work-life balance.
Staggering work shifts.
As you create or re-work your retention strategy, leaders should work closely with HR to make sure that the whole employee experience, from recruitment to exit interview is intentionally designed for your company culture and needs. Ask for employees for feedback on your retention strategies.
Final Thoughts
Employees need to know why they should stay, and your retention strategy should clearly communicate why they should. Study your relevant turnover data to see where your current plan could be modified to improve the three universal needs. Where can you permit and promote autonomy? What growth opportunities can you provide? And how can you make your company’s culture more inclusive and relatable? Work toward improving your employee experience from the hiring phase to the exit interview.