Retaining Employees with Good Pay
With living costs continually rising and more jobs than healthcare workers in the marketplace, employees now more than ever are seeking higher pay to keep up with the demands. Rent/mortgage increases along with monthly bills, and personal life changes like a growing family or school tuitions, are all reasons why employees change jobs. Someone could love the company they work for, but may pursue employment elsewhere solely for pay.
Knowing there is potential to make more money pushes employees to work harder, and can even keep certain team members in a less than ideal work situation for a longer amount of time. Developing new skills and climbing the corporate ladder are less often the reason employees chose to leave a company. The driving force tends to be an increase in pay.
If employees work hard, put in extra effort, but are left feeling undercompensated with no room for growth, they will take their knowledge and training elsewhere. Most people aren’t expecting absurd pay increases or bonuses, but they do want to get paid what they’re worth. Many tools are available to the public to research average pay rates by position and location. Losing employees over offering a small annual increase means the employer is also losing training and onboarding costs and will hve to invest again in a new employee who may not end up being a fit either. Read more on the cost of a bad hire.
By retaining employees with good pay, you will improve morale, entice them to be more productive, and maintain a lower turnover rate.
At HealthCare Support (HSS), we know that hiring and keeping excellent staff members can be challenging. We offer many recruitment services to help you find the top talent to fulfill your open healthcare positions. For more information, or to begin your partnership with us, please call us today at 1-888-219-6285.