Refreshing the Employee Experience and Employee Value Proposition
Do more with less to better attract and retain healthcare talent in today’s volatile talent landscape
There is widespread dissatisfaction with total rewards offerings and Employee Experience for healthcare employees. The healthcare workforce has endured difficult years addressing the pandemic, facing ever-present talent shortages and constant change. The industry has been slow and inefficient when addressing these issues.
In today’s competitive healthcare talent environment, it’s imperative that organizations regularly put effort into boosting the Employee Experience and refining their Employee Value Proposition to reflect the needs of their constantly evolving and changing employee population. 87% of healthcare workers want flexibility at work and from their work. Healthcare must quickly and effectively identify root causes of their people issues.
Mercer is uniquely positioned to support the healthcare industry by utilizing data analytics and best practices to provide direction on where to prioritize investments in people, where to re-allocate current investments and opportunities to reduce spend.
1 2024 Doximity poll
2 People Risk 2024, US Healthcare Industry cut, Mercer Marsh Benefits
of healthcare leaders say their organizations do not have an effective, clearly defined EVP that includes tailored reward/benefits practices and positive employee experience1
of physicians say they are overworked and 60% are considering a career change²
Healthcare organizations must look to effectively attract and retain talent in the face of persistent talent shortages, pervasive burnout and a workforce that is growing more diverse.
projected total deficit of critical healthcare labor in the US by 20283
of leaders said their reward packages are not meeting the needs of an increasingly diverse workforce4
things that help employees thrive are pride in organizational purpose, sense of belonging, and feeling valued for contributions
of healthcare leaders report they have an effective, clearly defined EVP in place2
employees do not feel financially secure for the future today — employees in the healthcare industry, and particularly women, are affected the most
3 Mercer’s Future of US Healthcare Industry report, 2024
4 People Risk 2024, US Healthcare Industry cut, Mercer Marsh Benefits
Listen to our podcast on the Employee Experience!
Our second episode, Healthcare is due for a refresh of the employee experience features Total Rewards Strategists, LaCinda Glover and Ben Merrill, who join John Derse to discuss why healthcare organizations must put focus into modernizing Total Rewards. They provide insights on the rapid changes occurring across the workforce that have fundamentally changed the relationship between employees and their employers. They challenge healthcare organizations to move beyond benchmarking when developing their programs and utilize new employee listening tools/technology to understand the unmet needs of their increasingly diverse workforce.
Explore our entire Healthcare Insights Podcast Series on Spotify or Apple as we highlight key developments and work we’re seeing done in healthcare to address the pervasive workforce challenges – talent shortages, burnout, workplace violence, dwindling financial margins and more. This series focuses on real solutions and the associated risks of action or inaction from the industry.
