As a former federally qualified health center CEO, I’ve seen the hidden costs of employee turnover firsthand.
In fact, turnover might be one of your biggest expenses. Let’s break it down:
🔍 $1,500 per hourly employee replaced.
With 100 employees and a 30% turnover rate, that’s $45,000 annually.
🔍 100% to 150% of the salary to replace technical positions like nurses and dental hygienists.
For a nurse making $75,000/year, that’s $112,500 to replace one!
🔍 Up to 213% of the annual salary to replace C-level positions (CEO, COO, CFO, etc.).
Replacing a CEO earning $150,000/year can cost $315,000.
Staff turnover at a community health center has a direct impact on the budget and on patient satisfaction.
Struggling to recruit top talent? Here’s how to attract and retain the best in the industry:
1️⃣ First, define your ideal candidate for each position. What qualities do they have, what are they looking for in an employer, what kind of experience do they have, and what are you hoping for in a candidate for that position? Defining the ideal candidate will help you recruit someone who is a better fit for the position, and you won't lose them within the first three months.
2️⃣ Second, widen your search and post where your ideal candidate "hangs out." Entry-level positions will be on social media like Instagram, FB, and X, and professionals will be on LinkedIn. You can also use podcasts that your ideal candidate would be listening to, blogs, community events, educational institutions, and professional associations.
3️⃣ Third, highlight your workplace culture. Culture is very important to job seekers these days. They want to make sure they're coming to work for a place that aligns with their values, welcomes diversity, and contributes to the well-being of their community. Talk about those things in your job postings!
4️⃣ Fourth, have a formalized professional growth and development program for all employees. 96% of workers consider developing work-related skills as very important. Use your professional growth and development program as a recruiting tactic and highlight it in your job postings.
Ready to attract top talent and stop the cycle of employee turnover? Start refining your recruitment strategies today and watch your turnover rates decrease.
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