“The Great Resignation”, the unprecedented wave of employees leaving their jobs and even their careers is now a common boardroom topic. The phenomenon is being frequently experienced by American employers industrywide. The trend for employees to resign before lining up a new job to move to is troubling. Many reports claim that the medical industry is suffering the highest rate of job losses compared to all others. Simultaneously, hiring physician candidates is more expensive than ever before. In 2021 the average cost to hire just one physician has climbed to as high as $250,000 according to medical recruiting experts and insiders. It is time to look at how a recruiting partner can offset talent acquisition costs while addressing the issues.
If the cost of talent acquisition was not enough of a concern, take into consideration the new normal in recruiting time. Today, on average, it takes 7.9 months from inception of a surgical specialty recruiting campaign to complete a hiring process. And physician specialties aren’t alone when it comes to time to fulfillment. It is now common to invest 7.3 months to complete recruitment in family medical roles.
Between the cost of recruitment and lost billing opportunities the total fiscal impact to medical institutions can range from $500,000 to over $1 million dollars, per physician opening. With 33% of jobs within the healthcare industry being clinical, working with a medical recruiter who is a trusted partner is more critical than ever to the success of every health care institution. That trusted recruiting partner is PX3 Medical Solutions.
Jeremy Foley created Px3 Medical Staffing with the notion that there was a need for something more than traditional resume filtering recruitment agencies. After more than a decade of work with some of the industry’s biggest named agencies Jeremy saw firsthand the real need for a new and different approach to recruiting. Today with the shortage of medical professionals in every capacity the time has come to expand relationships with key assets and partners like Px3 Medical. The timing was perfect really!
Recruiting today is more complex than at any other time, partly because of the complexity and diversity of the marketplace. The pandemic certainly created a strain on the system. Luckily, that strain does not have to be a negative driver to an organization’s recruiting process. Px3 Medical Staffing is adept at beginning with potential medical staff sourcing interruptions due to market trends. We convert those issues into highly cost effective need filling opportunities. An excellent example of this recruiting partner strategy is the embrace and implementation of multigenerational workforce recruiting.
Too often, we all forget just how valuable experience is in everything we do. The crushing blows the pandemic imposed to so many has compelled candidates to seek new or additional employment. Even highly trained and skilled medical professionals are interested in new opportunities. Four different generations now contribute to the work force spanning Generation Z, millennials, Generation X, and baby boomers. It takes a special type of person to cross over generational boundaries and tear down barriers which shouldn’t exist. When working with Jeremy Foley, you’ll learn how he keeps his finger on the pulse of these kinds of industry movements.
Jeremy and the Px3 Medical Staffing team is always happy to provide any assistance we can!