Healthcare talent shortages - Is exploring an alternative workforce the solution?

The healthcare sector in the United States faces unparalleled staff shortages, especially among frontline healthcare providers. Healthcare professionals are experiencing high levels of burnout, excessive workloads, and a lack of job satisfaction. Many are required to work extended hours with minimal opportunities for taking time off, and as a result, a significant number are either seeking new career options or leaving the profession altogether.

• A 2021 Mercer study found that the healthcare industry had lost 20-30% of its workforce.
  

• The study also projected that many healthcare workers would consider changing jobs in 2023.
  

• The study predicted that 900,000 nurses would permanently leave the industry by 2026.
  

• Twenty-nine states were facing a nursing shortage, and if current trends continued, they would be short by nearly 100,000 nurses in the next five years.

The cost of shortages - real-world implications

Staffing shortages are a matter of life and death, potentially increasing patients’ risk of death by 4% to 6%. Areas with struggling hospitals can expect higher death rates and co-morbidity in their communities.

• Physician burnout and turnover cost $4.6 billion annually. 

•  67% of healthcare CEOs said that labour and skills shortages would greatly impact profitability over the next ten years—higher than the overall global average of 52%. Addressing the challenge will require a mix of human capital and technology solutions.

The need for innovative solutions

What does an alternative workforce mean?

• The term "alternative workforce" refers to workers a single company does not employ full-time. This includes contract workers, freelancers, and gig workers.
  

• In the past, alternative work was often seen as a supplementary income source or a way to try different career paths. However, it has become increasingly common for people to choose alternative work as their primary source of income.

Alternative work today includes work performed by outsourced teams, contractors, freelancers, gig workers (paid-for tasks), and the crowd (outsourced networks).

By 2020, the number of self-employed workers in the United States will triple to 42 million. 

The alternative workforce: Now it's mainstream | Deloitte Insights 

"In today’s jobs market, we want to be competitive in attracting the best people, and we want them to stay long term. We know that a state-of-the-art working environment, including efficient operations, is key to recruiting and retaining the highly sought-after professionals we need."

Dr Rahel Kubik, Head of Radiology, Director of Medical Services, Castonal Hospital Baden. 

What are the Pros of engaging workers from an alternative workforce? 

* Expanded Pool of Professionals 

* Enhanced Access to Care 

* Cost Savings 

* Workforce Diversity 

* Scope of Practice Flexibility 

What are the cons of engaging workers from an alternative workforce? 

* Quality and Competence Concerns 

* Regulatory Hurdles 

* Patient Acceptance and Trust 

* Integration Challenges 

* Limited Specialization

How can talent recruitment and staffing agencies help? 

Talent Management Strategies

• A multifaceted approach to attracting and retaining healthcare workers. Beyond salaries: intangible benefits and professional development.

Practical assistance:

• Understand the needs of the medical staff office: types of positions that need to be filled, the required skills and experience, and the salary range being offered.

• Network with medical professionals: help them to identify and recruit qualified candidates for open positions.

• Market the open positions: Market the open positions to potential candidates through various channels, including job boards, social media, and their network of contacts.

• Screen and interview candidates: Screen and interview candidates to assess their skills, experience, and qualifications. This can save the healthcare organisation time and resources.
  
  Access to a larger pool of candidates, including passive candidates who may not actively seek employment. This can be helpful for healthcare organisations looking for specific skills or experience that may be difficult to find.

• Save time and money: sourcing candidates, screening resumes, and conducting interviews. This can free up healthcare organisations to focus on other priorities.

• Get the best talent: Help assess candidates' skills and experience to ensure they fit the role well.

• Flexibility: various staffing solutions, such as contract recruiting, contingent recruitment, and fully credentialed healthcare talent. 

• Access the right tools and expertise to find the right candidates and streamline the hiring process.