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Curb Employee Turnover and Cut Costs in 4 Steps

  • Article by:Health Career Center
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In their efforts to improve access, affordability and quality of care, hospitals look everywhere for ways to avoid redundant spending.

One of the biggest opportunities may be hiding in plain sight: the hiring process.

Smarter hiring practices can help hospitals save millions each year by lowering employee turnover. In fact, a recent white paper by HealthcareSource noted that for every single-percentage increase in annual turnover, the average hospital loses $300,000 — and that’s just for nurses, not the entire hospital staff.

Here are four proven steps you can take to improve your hiring process, and ensure that every new employee you bring on board will be a good fit for years to come. When you’re finished reading, be sure to visit HealthCareerCenter.com for an even bigger head start on finding (and retaining) the best talent in your region.

1. Know that your “gut” doesn’t always get it right
As an HR professional or other person in charge of hiring, you take everything into account when reviewing a candidate: schooling, years of experience, core competencies and more. However, when the time comes to make your ultimate decision, you probably go with your gut feeling. Which makes sense if you believe that your gut has never steered you wrong before.

Unfortunately, we have a tendency to overlook that our gut feelings are no match for measurable, quantitative success predictors. And that no matter how professional we try to be, we’re still human beings with inherent biases, many of which we don’t even know exist. By trusting our intuition to have the ultimate say over who works at our hospital, we set ourselves up for failure without even realizing it.

2. Introduce more accuracy with behavioral assessments
Behavioral assessments are a proven way to accurately select candidates and reduce costly turnover. That’s because they cancel out biases and preconceptions, and replace them with a data-based methodology that’s more consistent over time. The result is a more rigorous and thorough hiring process that offers more reliable predictors of employees’ future behavior.

What’s more, behavioral assessments can help you shorten the long and winding interview process. No more wasting time with unfit candidates in face-to-face meetings; instead, you can weed them out based on certain criteria before the process even begins.

3. Tailor interview questions to your core values
One worry about behavioral assessments is that they focus too much on statistics, and not enough on hard-to-measure characteristics like compassion and work ethic. However, organizations using similar assessments have reported considerable success in targeting people with these traits. The key is building them into your interview questions.

By customizing your interviews to include questions that focus on your core values and areas of concern, you’ll find that you naturally gravitate toward people who are a good cultural fit. Over the long term, these people will be more likely to stay with your organization, cutting down on turnover.

4. Use behavioral assessments for internal promotions
Though behavioral assessments are mostly used to target external candidates, they’re just as valuable for identifying talent and promoting internally. This is especially true for employees who are making the leap to managerial positions, where their core values will have a greater impact on their day-to-day decision making.

However you decide to employ behavioral assessments in your organization, it’s important to remember that they aren’t meant as a replacement for HR professionals’ better instincts. They’re meant to support HR professionals with information, so they can use those instincts to make more accurate decisions and improve the consistency of their hiring practices.

And once you achieve better hiring practices, better employees are sure to follow.

The information in this article originally appeared on HealthcareSource.com. To read the original article, click here.
http://education.healthcaresource.com/how-to-reduce-employee-turnover-in-healthcare/