In today’s competitive market, retaining top talent is just as important as hiring top talent. Getting a quality candidate on board marks the beginning of a longer journey – one that involves onboarding, mentorship, collaboration, and ongoing career development.
While both candidates and clients agree that compensation is a big part of retention, there’s another, more subtle dimension that is just as important: career satisfaction. I use this term to describe components of retention that go beyond salary, perks, and benefits — it describes a candidate’s ability to feel effective, valued, and supported in their job.
Here are four dimensions of career satisfaction to pay attention to when you’re working to retain top leaders in the healthcare C-Suite:
- Influence on Strategic Goals — While your hospital most likely has its own set of strategic priorities in place, it’s important to make room for new ideas and initiatives from C-Suite new hires. If a leader can make an impact on a priority area that’s important to them, they will be more likely to feel a sense of personal connection to their work, and less likely to jump ship when a new opportunity comes their way.
- Supportive Senior Leadership Team — A leader is only as good as the collaborators around them. If a leader feels they can trust their new C-Suite peers and easily work with them to accomplish strategic goals, they’ll feel not only effective, but also a sense of belonging and group membership. When an employee feels they have truly been welcomed onto the team, their loyalty and commitment to the organization will grow.
- A Positive Work Environment — A leader should feel a strong sense of optimism and possibility regarding their work. While C-Suite-level leadership can feel challenging and stressful at times, positions should overall present opportunities to grow, experiment, innovate, and improve processes to meet the current moment. If a leader feels like they can grow and take on new projects or initiatives with your organization over time, they’ll be more likely to stick with the team to reap the long-term rewards.
- Recognition of Value — At the end of the day, we all want to be recognized for our contributions. Make sure to build in regular intervals at which C-Suite leaders will get feedback, mentorship, and above all, reassurance that the work they do is noticed and valued by fellow leaders, patients and staff. Feeling a true sense of purpose will help leaders feel committed to their role and their work at your organization.
Retaining top healthcare leaders isn’t always easy, especially in today’s climate — but there are many things you can do to tip the scales in your favor. We hope you are able to call upon these tips as you shape the C-Suite leader experience at your organization.
Lauren Bencekovich is the founder and CEO of Lauren Recruiting Group, a boutique healthcare recruiting firm that matches healthcare executive candidates with hospitals and health organizations. Looking for an outstanding C-Suite candidate? Visit our contact page to schedule a 30-minute intro call with one of our recruiting team members. We look forward to connecting and matching you with a top-tier candidate!