WOBURN, Mass., Oct. 11, 2018 /PRNewswire-PRWeb/ -- HealthcareSource®, the leading provider of talent management solutions for the healthcare industry, today announced that it released key highlights from its 2018 Lean Human Capital Healthcare Recruitment Benchmarks, examining data from more than 1,100 hospitals, representing over 1 million full-time employees.
While overall average time-to-fill has decreased 7 percent year-over-year to 50 days, those hospitals with talent acquisition teams performing in the top 25 percent have an average time-to-fill of 23 days — nearly 30 days fewer than average.
David Szary, Senior Vice President and General Manager of Recruiting Services at HealthcareSource, credits this success to using Lean principles to transform the recruiting function. "The 2018 Benchmark results show the difference between those organizations that are investing in Lean practices, sourcing, and organizational transformation, and those that are just doing what they've always done," said Szary. "Those that are not investing in Lean recruiting practices are falling significantly behind and will continue to do so as the labor market continues to tighten over the next few years."
"Additionally, this year we have uncovered some interesting information on union hospitals, where we would expect some of the requirements around hiring and promoting from within to yield significantly better recruiting results," said Szary. "However, without the right Lean practices in place, they are not able to realize all the benefits." These findings include:
- Union hospitals hire 68 percent from within, compared to non-union hospitals hiring 42 percent from within.
- Union hospitals see half the annual turnover rate (8 percent), compared to the 16 percent turnover rate non-union hospitals have.
- Despite these different approaches to internal hiring, time-to-fill is not significantly different: 64 days for union hospitals and 61 days for non-union hospitals.
"These results not only highlight the challenges hospitals are facing in hiring and retaining talented individuals, but they also illuminate that recruiters can overcome these challenges," said J.P. Fingado, President and Chief Executive Officer, HealthcareSource. "With the right proven strategies and tools, like those enabled by the HealthcareSource talent management platform, organizations can improve the candidate experience, increase the quality of new hires, decrease turnover and vacancy rates, and boost their employer brand."
Now in its ninth year, the Lean Human Capital Healthcare Recruitment Benchmarks has become an annual barometer of healthcare recruitment practices and employment trends. Learn more about Lean Human Capital by HealthcareSourceSM and how they help transform recruiting practices.
About HealthcareSource
HealthcareSource® is the only comprehensive talent management suite designed specifically to support the healthcare talent ecosystem. Our software, services, content, and analytics enable more than 3,500 healthcare organizations, senior care providers, and staffing agencies, spanning over 6,000 locations, to ensure quality patient and client care by recruiting, retaining, and developing quality talent. HealthcareSource and its award-winning healthcare talent management solutions have been recognized by industry analysts and trade groups.
SOURCE HealthcareSource
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