You surely have heard about “The Great Resignation”, the unprecedented wave of employees leaving their jobs and even their careers. The phenomenon frequently experienced by every employer industrywide is happening before employees have a new job to move to. Many reports claim that the medical industry is suffering the highest rate of job losses compared to all others. At the same time 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 may be time to look at how a recruiting partner can address the issues.
The New Normal
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 for family medical role recruitment to be completed.
The Recruiting Partner Solution
Between the cost of recruitment and lost billing opportunities the total financial impact to medical institutions can range from $1.2 million to over $2 million dollars, per physician opening. With 33% of jobs within the healthcare industry being clinical it is more critical than ever to the success of every health care institution to work with a medical recruiter who is more than just a staffer, rather someone who is a trusted partner. That someone 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 recruiting 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!
How PX3 Adds Value
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. One great 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 many 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. 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!