Attention Healthcare Leaders: Recruitment costs are rising, and every dollar counts. Have you calculated the true cost of hiring this year? If not, it’s time to rethink your strategy.
The Hidden Costs of Recruitment
Recruitment isn’t just about job ads. Hidden expenses add up fast:
Turnover Costs: Lost productivity, temporary staff, and patient care gaps. According to the Society for Human Resource Management (SHRM), turnover costs can range from 50% to 200% of an employee’s annual salary.
Time-to-Fill: The average time to fill a healthcare position is 49 days, per the Association of Staff Physician Recruiters (ASPR).
Onboarding & Training: A 2023 LinkedIn report highlights that effective onboarding can cost up to $4,000 per new hire.
Overtime: Existing staff often cover gaps, with the American Nurses Association (ANA) reporting overtime as a significant contributor to burnout.
Did you track these costs? If not, your 2024 budget might be underestimating the true impact.
Why Recruitment Is Getting Pricier
Nursing Shortages: The Bureau of Labor Statistics projects a 6% growth in RN demand by 2031.
Burnout: A 2023 Medscape report indicates 42% of physicians are experiencing burnout, leading to increased retirements.
Fierce Competition: Telehealth and private practices now compete heavily for top talent, driving up salaries and incentives.
Your 2025 Action Plan
Make every dollar work harder with these proven strategies:
Audit Recruitment Spend: Discover where your 2024 budget worked—and where it didn’t.
Invest in Retention: Career development, wellness programs, and flexibility reduce turnover.
Go High-Tech: Use applicant tracking systems and AI tools to speed up hiring.
Strengthen Branding: Show why healthcare professionals should choose you.
Plan for Surprises: Budget for unexpected vacancies and seasonal spikes.
Promote From Within: Reward loyal staff while saving on external hiring costs.
Make 2025 the Year of Smarter Recruiting
Proactive, data-driven recruitment strategies mean less waste and better hires. Let’s build the workforce your organization needs to succeed—starting now!
Ready to transform your hiring game? Start planning today!
Contact TSL Direct to assist with all your recruitment needs. Our expertise in healthcare staffing ensures cost-effective, data-driven solutions tailored to your organization. Let us help you secure top talent and achieve your 2025 goals with confidence!