11. Lost productivity (39%)
Lost time to recruit and train
another worker (39%)
Cost to recruit and train another
worker (35%)
Negative effects on employee
morale (33%)
Negative impact on clients (19%)
Fewer sales (11%)
Legal issues (9%)
What’s Driving Up the
Cost of a Bad Hire
What Defines a
“Bad Hire”
Quality of work was lackluster
(67%)
Failure to work well with other
employees (60%)
Negative attitude (59%)
Attendance problems (54%)
Complaints from customers
(44%)
Failure to meet deadlines (44%)
“Whether it’s a negative attitude, lack of follow through or other
concern, the impact of a bad hire is significant. Not only can it
create productivity and morale issues, it can also affect the
bottom line.”
Rosemary Haefner, Vice President of Human Resources at CareerBuilder
13. • Attracting/engaging/retaining talent
• Building organizational culture
• Increasing productivity while leveraging resources
successfully implement a strategic plan.
14. Getting the right people on the bus.
Hiring Strategies
Creating a culture by design that runs on
systems and processes. This is for
sustainability and growth.
Systems and Processes
Getting 480% effort from your team and
having them run your ship.
Employee Engagement
Building a
Team
20. • Simon Senek – “Leaders Eat Last”
• Jack Daly – “Hyper Growth Sales”
• David Marquet – “Turn the Ship Around”
• PatientCo – “Roadmap for Point of Service Collections”
• CareerBuilder – Supply/Demand Data Portal
• CareerBuilder – “The True Cost of a Bad Hire” -
http://thehiringsite.careerbuilder.com/2012/12/13/cost-of-a-bad-hire/
• Kaiser Health News – September 12, 2011
• MEDE Analytics – HIMSS Revenue Cycle Solutions Summit. 2015.
• Kaulkin Ginsberg – “Revenue Cycle Management Outsourcing Report”
http://www.kaulkin.com/expertise/pdfs/reports/kaulkinginsberg_rcm_032013.pdf
• HFMA – “Strategies for a High-Performance Revenue Cycle” –
http://www.hfma.org/Content.aspx?id=1729
• “5 Major Issues for Hospital Revenue Cycle Teams” –
http://www.beckershospitalreview.com/finance/5-major-issues-for-hospital-revenue-cycle-
teams.html
• “The Staggering Cost of a Bad Hire and How to Avoid One” –
http://www.fastcompany.com/3028628/work-smart/infographic-how-much-a-bad-hire-will-
actually-cost-you#1
• Pwc.com – PWC 17th Annual Global CEO Survey
• HFMA – “Creating a Positive Culture for Collections” -
http://www.hfma.org/Content.aspx?id=19152##
Materials Referenced
21. 300 Unicorn Park Dr.
Suite 404
Woburn, MA 01801
jjacobi@medixteam.com 781-897-6029 815-262-1394
P
James Jacobi
Sales Manager
c
Editor's Notes
Thank you for having me here today.
Here’s a little bit about my background, where I come from:
-In healthcare staffing and recruiting for about 9 years
-recruited for 2 years, sold services for 2 years, and have been running the Boston branch for about 5 years.
-I speak on hiring talent at conferences, and associations throughout New England a few times a year.
-I am passionate about growing my business, growing the people in it, and growing yours.
-I like to share what I’ve learned from my own experiences, and from successful industry leaders in healthcare, and others who can speak to growing a healthy culture and high performing business
I’m here to talk WITH you today about hiring talent and increasing performance on your team(s).
How would you like these results?
-Always having the best available talent coming to your door to work for YOU
-Outperforming the competition by 6x
-Have your team 480% more committed to seeing the company succeed
-350% more like to have your teammates refer working at your company to others
Your conference is about surviving to thriving. We’ve heard some great points in the last day….
Today’s we’re going to cover a few things…
Industry Trends. Do you know what is happening in Maine and in the Northeast?
Hiring strategies.
Impact of people to your business
Systems and Processes
Employee Engagement is key
Market Update/Industry Trends
-6 months
Demand has grown 300%
EMR systems conversion (i.e. EPIC, Meditech, Allscripts).
Process slowdown
Taxing training
Mergers & Acquisitions
Revenue Cycle Process Enhancements/Pilot Projects
ICD-10 integration
Turnover
ACA based initiatives (i.e. RAC Expansion)
And aging…. Only 12% of talent has less than 5 years experience. 26% have over 21 years and are looking to retire.
It has never been more critical to make sure you have a sound talent management strategy in place for your high-performing revenue cycle team.
Percentage of Healthcare CEOs that say they recognize the need to change their strategy for attracting &
retaining talent.
Patient Access - POS Collections – 30% of revenue.
(I want to put more information here on how sitting in the seats (front end – patient access or back end – billing/collections) makes an impact on the business)
While your staff may be courteous and competent at the point of service (POS), revenue challenges can still occur if you don’t implement the right culture to accompany improvements in process and technology.
“a recent Transunion study shows that 70 percent of providers collect less than 30 percent of out-of-pocket costs at the point of service”
“Whether it’s a negative attitude, lack of follow through or other concern, the impact of a bad hire is significant,” said Rosemary Haefner, vice president of human resources at CareerBuilder, in a statement for the press release. “Not only can it create productivity and morale issues, it can also affect the bottom line.”
What’s driving up the cost of a bad hire? The price of a bad hire adds up in variety ways. According to the survey, the most common money-sucks that result from a bad hire are:
-Lost productivity (39 percent)
-Lost time to recruit and train another worker (39 percent)
-Cost to recruit and train another worker (35 percent)
-Negative effects on employee morale (33 percent)
-Negative impact on clients (19 percent)
-Fewer sales (11 percent)
-Legal issues (9 percent)
What defines a “bad” hire, anyway? -When classifying what makes someone a bad hire, employers reported several behavioral and performance-related issues:
-Quality of work was lackluster (67 percent)
-Failure to work well with other employees (60 percent)
-Negative attitude (59 percent)
-Attendance problems (54 percent)
-Complaints from customers (44 percent)
-Failure to meet deadlines (44 percent)
It starts with the “why” What is the vision?
- There are leaders and there are those that lead. Those that can inspire by others knowing and believing the why, are leading.
“Working hard for something we don’t care about is called stress; working hard for something we love is called passion.”
Do your employees wake up in morning and can’t wait to get to work? Or do they drudgingly arrive for another day of the grind?
The absence of, or poorly written Vision and Mission statements, are lost opportunities for:
Attracting/engaging/retaining talent
Building organizational culture
Increasing productivity while leveraging all resources to successfully implement a strategic plan.
Then you need a blueprint…once you know the why…then you establish the how and what.
Hiring Strategies
Employee Engagement
Systems and Processes
Build a Top 15 list
Whose involved in your hiring process, what role do they play? Is it effective?
What questions and screening methods do you use to identify the RIGHT talent for YOU
Hire slow, fire fast
Employee engagement is critical (VIDEO)
Recognition Systems – One Minute Praisings – One Minute Manager
Caught in the act
Handwritten notes
Communication Systems
Vision Sharing
Daily Huddle
Weekly/Quarterly Updates
Surveying your team, get feedback.
Share financial results
Empowerment Processes – Rick Rose, CEO and author and Turn the Ship Around story
Is it right for the customer?
Is it right for our company?
Is it ethical?
Is it something for which you’re willing to be accountable?
Is it consistent with the company’s basic beliefs?
Development Processes
Model the masters
Best practices training guide
Recognition Systems – One Minute Praisings – One Minute Manager
Caught in the act
Handwritten notes
Communication Systems
Vision Sharing
Daily Huddle
Weekly/Quarterly Updates
Surveying your team, get feedback.
Share financial results
Empowerment Processes – Rick Rose, CEO and author and Turn the Ship Around story
Is it right for the customer?
Is it right for our company?
Is it ethical?
Is it something for which you’re willing to be accountable?
Is it consistent with the company’s basic beliefs?
Development Processes
Model the masters
Best practices training guide
One Minute Manager – reference development levels and goal setting.
One Minute Praising – recognize your people doing things right, OFTEN
