Economic Recovery Spurs Healthcare Staffing Turnover

Economic Recovery Spurs Healthcare Staffing TurnoverMarch 31, 2015 by Vickie Anenberg

Recovery from the latest recession is good news for healthcare providers because coupled with the growing number of individuals enrolled in health insurance under the Affordable Care Act, more Americans are seeking care they had previously deferred. However, the downside is the number of healthcare professionals currently employed and seeking new jobs has also increased. 

Details of the U.S. Bureau of Labor Statistics (BLS) Job Openings and Labor Turnover Survey (JOLTS), initially posted in February, indicate that turnover in the “Healthcare and Social Assistance” category is the highest it has been since BLS began taking such measurements in 2001. This can complicate your hospital’s ability to provide quality care and patient safety on a consistent basis.

When the economy takes a downturn, healthcare professionals, much like the employees in most industries, tend to stay with their current employer out of fear for their economic wellbeing. This is particularly true in two income households when one spouse loses their job or is working fewer hours for less pay.

Conversely, when the nation’s economy improves, employees often begin to search for new opportunities. All factors come into play: income, benefits, working environment, and fresh challenges.

Keeping close tabs on your turnover rate is now critical. Planning for the loss of essential personnel is a necessity to ensure the financial health of your facility. Competition for qualified staff is rising, and is expected to do so for the foreseeable future in all professional healthcare specialties.

You can take control of your staffing processes by partnering with Cross Country Staffing. Professional healthcare staffing is our only business, and we have been helping healthcare providers to improve their quality of care and patient safety for over 35 years.

At Cross Country Staffing, we analyze your unique needs to tailor a plan that will meet your long-term strategic needs, while optimizing your staffing spend in a highly competitive market. We have developed proven workforce solutions and staffing methods to meet the most complex challenges. Our nationwide network enables Cross Country Staffing to help you have the right healthcare professionals – with the right skills, in the right jobs, regardless of specialty.