Recruiting physicians in an uncertain economy can be challenging for healthcare organizations, as economic downturns can lead to decreased job opportunities and increased competition for available positions. However, there are several strategies that healthcare organizations can employ to attract and retain top physician talent, even in uncertain economic times.

1. Offer competitive compensation and benefits packages

One of the most effective ways to attract and retain physicians is to offer competitive compensation and benefits packages and marketing those benefits well. Compensation remains the top factor influencing a physician's decision to accept a job offer. Location, schedule, and work-life balance remain next in order of priority. 

In addition to competitive salaries, healthcare organizations should consider offering standard benefits such as loan repayment, retirement plans, and paid time off. Physicians also value a good work-life balance, so offering flexible schedules and time off can also be an effective recruiting strategy. Other unique perks could include paid childcare, car allowance for positions that require travel between facilities, or state licensing assistance.

2. Emphasize opportunities for professional growth and development

Physicians are highly skilled professionals who are committed to lifelong learning and development. Healthcare organizations can appeal to this desire by offering opportunities for professional growth and development. This can include continuing education, leadership training, and opportunities to participate in research or clinical trials.

According to a survey by the Advisory Board, a healthcare research and consulting firm, 80% of physicians consider professional development opportunities to be important in their decision to accept a job offer.

3. Cultivate a positive workplace culture

Physicians, like all employees, want to work in a positive and supportive environment. Healthcare organizations can foster a positive workplace culture by promoting teamwork, communication, and collaboration.

According to a survey by the American College of Physician Executives, a professional organization for physician leaders, 86% of physician leaders believe that a positive culture is important for attracting and retaining physicians.

4. Leverage technology to streamline recruitment and onboarding

Recruiting and onboarding physicians can be a time-consuming process, but technology can help streamline the process and improve the candidate experience. Healthcare organizations can use online job boards, applicant tracking systems, and video interviews to efficiently screen and interview candidates. PracticeMatch offers all of the above in a single, easy to use platform. Our virtual career fairs are an easy, cost-effective way to keep your candidate pipeline healthy. 

According to a survey by the National Association of Physician Recruiters, a professional organization for physician recruiters, 90% of recruiters use some form of technology to recruit physicians.

5. Establish partnerships with medical schools and residency programs

Finally, healthcare organizations can establish partnerships with medical schools and residency programs to build relationships with physicians early in their careers. This can include offering mentorship programs, hosting networking events, and providing opportunities for clinical rotations or research.

According to a survey by the Association of American Medical Colleges, a professional organization for medical schools and teaching hospitals, 59% of medical schools and 85% of teaching hospitals have established partnerships with community-based organizations to promote physician recruitment.

Recruiting physicians in an uncertain economy can be challenging, but healthcare organizations can use a variety of strategies to attract and retain top talent. By offering competitive compensation and benefits packages, emphasizing opportunities for professional growth and development, cultivating a positive workplace culture, leveraging technology to streamline recruitment and onboarding, and establishing partnerships with medical schools and residency programs, healthcare organizations can build a strong and sustainable physician workforce.

Sources:

Advisory Board. (2018). What Physicians Want: How to Attract and Retain Top Talent.

American College of Physician Executives. (2017). Physician Leadership Survey.

National Association of Physician Recruiters. (2020). 2020 In-House Physician Recruitment Benchmarking Report.

Association of American Medical Colleges. (2019). Partnering with Community-Based Organizations