Strategies for Improving Employee Retention in Healthcare | HR Cloud

A period of “Great resignation” is dawning upon various industries, especially in the healthcare sector where hospitals are experiencing a high turnover of staff. . In 2023 alone, about 1.7 million people left the healthcare profession, which amounts to losing almost 3% of healthcare workers every month.
This shortage will be even greater by 2032. The industry will be lacking close to 122,000 physicians . Hence, implementing solid employee retention in healthcare is critical for providing better life quality and profits.
The right mix of employees helps a company survive and grow, especially as the economic climate is ever-changing. A vast majority of hospitals consider staff retention to be a 'high strategic imperative'.
The vast majority of hospitals are making efforts to enhance their employee retention rates. Specifically, 72.6% have a formal commitment strategy, whereas less than half i.e. 44.5% commit to measurable goals.
In this article, we will look at the importance of employee retention and spill some of the best strategies to help you improve it.