Brenda Doherty | Comments In Modern Healthcare

newsBrenda Doherty | Comments In Modern Healthcare

Brenda Doherty | Comments In Modern Healthcare

A piece on Modern Healthcare discusses employee retention rates and how executives in the C-Suite are supporting programs that help with maintaining employees. Partner Brenda Doherty offers her own insights to the topic:

“M&A mania

Providers continue to consolidate, which often breeds uncertainty that can ultimately lead to burnout and turnover. Employees don’t know if their job or boss will change, or if they will have a job at all.

“It’s a scary time during an acquisition,” said Brenda Doherty, partner at executive search firm Buffkin/Baker. “That’s why leadership has to get out in front of it and set the tone and direction.”

Fewer competitors may be a disservice to both health systems and workers, she said.

“If there are no other places to go in a certain market, it doesn’t attract the talent that systems really need and it keeps competitive wages and benefit structures out of the game,” Doherty said.

Although executive pay continues to rise, median earnings for all full-time healthcare workers fell on average by 2.4%, according to a recent report from the Center for Economic Policy and Research, a left-leaning think tank. “

“Call the nurse

…Healthcare organizations have a wealth of competing priorities. From hitting financial targets to meeting compliance standards, employee retention traditionally took a back seat. But that is changing, Buffkin/Baker’s Doherty said.

There is a direct correlation between turnover and readmission rates, as well as a number of other soft and hard costs, she said. All of these financial implications have elevated employee engagement to the top of the priority list, Doherty said.

“An engaged workforce is everything,” she said.”

The full article by Alex Kacik can be read here:  Tackling Turnover in Labor Shortage