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The Top 5 Realities Physicians Wish Recruiters Knew

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Survey Results and Panel Discussion Presented by M3 Global Research.

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The Top 5 Realities Physicians Wish Recruiters Knew

  1. 1. What Physicians Think About Job Opportunity Advertisements Onboarding Programs Retention Programs Survey Results and Panel Discussion Presented by M3 Global Research
  2. 2. Today’s Plan  Our panelists are in private practice o Dr. A o Dr. B o Dr. C  The research topics for discussion o New job seeking expectations o How they read job opportunity announcements o Onboarding perceptions o Retention perceptions  Internet respondents were MDLinx subscribers o Received no honoraria © 2015 M3 USA Corporation. All rights reserved. 2 Panel with three physicians Results from internet surveys among US physicians
  3. 3. © 2015 M3 USA Corporation. All rights reserved. 3 Recruiting Onboarding Retention
  4. 4. Many expect to seek a new job within 5 years – most are expecting to relocate. © 2015 M3 USA Corporation. All rights reserved. 4 Recruiting 17% 55% 27% 19% 17% 12% 26% 25% 0% 20% 40% 60% 80% 100% New Position? Relocate Nationally Relocate in-state No Relocation Yes 12 months Yes, 1-3 years Yes , 3-5 years Yes 5-8 years Yes, 9+ years No Not sure 49% expect to look for a new 81% would relocate n=243 Q13: Do you expect to look for a new position in the future? Q14: Would you relocate for this new position?
  5. 5. Almost everyone see job opportunity emails. © 2015 M3 USA Corporation. All rights reserved. 5 Recruiting n=250 Q: Approximately how many emails about job opportunities do you receive in a typical week? 7% 47% 28% 12% 7% 2% 35% 40% 9% 14% 0% 10% 20% 30% 40% 50% Zero 1 to 3 4 to 6 7 to 10 11 or more No New Job (n=105) New Job 1 - 5 years (n=121)
  6. 6. Almost all at least are scanning job postings – but few do more than look at the title and location. © 2015 M3 USA Corporation. All rights reserved. 6 Recruiting n=243 Q15: Which of the following best describes your approach to job opportunity announcements? 6% 7% 10% 30% 49% 0% 10% 20% 30% 40% 50% 60% I never look at them I haven't read them recently Seriously scan the job titles, contacted a recruiter in th elast 12 months Casually scan the job title and location, rarely read beyond Casually scan the job title and location, read a few
  7. 7. © 2015 M3 USA Corporation. All rights reserved. 7 Recruiting Physicians look for a diverse array of job factors – but geography may be the most obvious attention grabber. 19% 23% 27% 22% 29% 26% 48% 55% 27% 31% 29% 34% 28% 40% 32% 27% 26% 26% 25% 26% 27% 16% 11% 9% 16% 11% 11% 8% 10% 10% 5% 5% 8% 7% 3% 7% 5% 5% 2% 2% 5% 3% 5% 3% 2% 3% 3% 3% 0% 20% 40% 60% 80% 100% Culture Camaradarie Career Growth Org/Institution reputation Autonomy Practice-specific opprtunities Work-Life Balance Geographic 1 = Most Likely 2 3 4 5 6= Least Likely n=243 Q7: If you were receiving information about a job opportunity, what aspects of the work environment are most likely to grab and keep you attention? (1 = most likely, 6 = least likely)
  8. 8. © 2015 M3 USA Corporation. All rights reserved. 8 Recruiting Less than half of residents received career guidance. 38% 89% 67% 56% 11% 58% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Guidance Mentor Fellow Resident Other faculty HR Yes No n=24 (small sample) Q: During your residency and/or fellowship training, did you receive any guidance on job seeking (writing a CV, interviews, etc)? Who did you receive guidance from?
  9. 9. © 2015 M3 USA Corporation. All rights reserved. 9 Recruiting Panel Question for “Recruiting” How many emails do you see? Which ones do you open/what do you look for? What questions come to mind as your read them? What would you like to know from the audience?
  10. 10. © 2015 M3 USA Corporation. All rights reserved. 10 Recruiting Onboarding Retention
  11. 11. © 2015 M3 USA Corporation. All rights reserved. 11 Onboarding 10% Orientation 44% Neither 46% Onboarding Orientation Neither 42% 38% 15% 5% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% n=304 n=566 Q: When you started your last new job, was there a formal orientation or onboarding process in place? To what extent did your onboarding program help you become comfortable in your new position? Onboarding Orientation is far more common than onboarding – the effort is generally considered helpful!
  12. 12. © 2015 M3 USA Corporation. All rights reserved. 12 Onboarding Almost all culture knowledge was gained informally – very few learned the organization through formal orientation programs. 62% 33% 20% 15% Peers/Colleagues None, I learned on my own Sr Admin, MD Leaders Formal Organization's Orientation n=100 Q6: Each organization has its own culture. How did you become knowledgeable of the culture of you new organization?
  13. 13. © 2015 M3 USA Corporation. All rights reserved. 13 Onboarding Meeting staff and online systems were important – most other needs were probably considered routine. 55%* 40%* 35%* 33%* 22%* 22% 14% 12% 11% Meeting other MDs, staff Benefits orientation Detailed tour of facilities Thorough orientation Online orientation, systems training Nothing Family transition help MD ledership opportunities Referral strategy guide n=667 Q: When you started your last new job, what were the best things your new employer provided to help you become familiar with the practice/institution? Please check all that apply.
  14. 14. © 2015 M3 USA Corporation. All rights reserved. 14 Onboarding 53% 27% 5% 10% 6% 3 months 6 months 9 months 1 year Longer than 1 year n=667 Q: How long did it take for you to feel comfortable and productive in your new position? Almost all (80%) felt comfortable and productive in their first 6 months on the job.
  15. 15. © 2015 M3 USA Corporation. All rights reserved. 15 Onboarding Panel Question for “Onboarding” Have you seen “onboarding”? What did you do instead? How much of a difference did it make? What would you do to make it better? What would you like to know from the audience?
  16. 16. © 2015 M3 USA Corporation. All rights reserved. 16 14% 12% 16% 16% 17% 27% 42% 48% 12% 14% 16% 13% 19% 34% 28% 57% 0% 10% 20% 30% 40% 50% 60% Lack of professional autonomy Unfriendly colleagues / peers Disorganized practice, low leadership Non-financial benefits Too much regulation, non-clinical duties Family ties, moving home Practice culture not a good fit Low QOL, work / life balance Hospital Non Hospital 10% or less  Move to/from City  Want shorter commute  Loan assistance/forgiveness  Lousy direct boss  Low staff morale  Inadequate staffing  Inadequate innovation/capital funding  Poor training/onboarding  Want a non-clinical position  Want to start a company Retention n=710 Q: In your opinion, when a newly trained physician leaves their practice within the first 3 years, what are the most common reasons? Work/life balance, practice culture, and family relocation were the major reasons for new physicians departures in the first 3 years.
  17. 17. © 2015 M3 USA Corporation. All rights reserved. 17 Retention Retention programs are plentiful but could be more effective. n=TBD Q: Does your practice/institution have a formal retention program in place? If yes, how effective do you personally feel that program has been to reduce turnover in the practice/institution? 11% 15% 37% 32% 16% Yes Extremely effective Very effective Somewhat effective Not at all / very effective
  18. 18. © 2015 M3 USA Corporation. All rights reserved. 18 Retention Retention programs are important but not widely formalized. n=566 Q: Does your practice/institution have a formal retention program in place? How necessary do you feel it is for your practice/institution to have a formal retention program in place? 21% 27% 44% 8% 17% 19% 37% 27% Extremely necessary Somewhat necessary Nice to have Not at all / somewhat unnecessary Hospital Private practice 15% 9% 47% 62% 38% 29% Hospital Private Practice Yes No DK
  19. 19. © 2015 M3 USA Corporation. All rights reserved. 19 Retention Leadership programs make it harder for an employee to accept a competing offer. 27% 51% 20% 2% 21% 55% 21% 3% Definitely Yes Probably Yes Probably Not Definitely Not Hospital (n=199) Non Hospital (n=497) n=710 Q: If you were in your current position, and you received a higher salary offer from another institution, would being part of a leadership program with growth opportunities be an incentive to stay with your current institution?
  20. 20. © 2015 M3 USA Corporation. All rights reserved. 20 Retention Bonus and work/life balance were the preferred retention program features. n=566 Q: In terms of retention activities, which of the following do you feel are the best ways to encourage physicians to remain at your practice/institution? 60% 18% 10% 10% 2% 2% 20% 25% 21% 23% 5% 5% 9% 23% 22% 18% 14% 14% 6% 17% 18% 18% 24% 16% 3% 13% 21% 20% 24% 19% 2% 4% 8% 11% 31% 44% Loan assistanc e More support staff Reduced call hours Increase d opport… Work life balance Bonus Ranked # 5 4 3 2 Ranked #1
  21. 21. © 2015 M3 USA Corporation. All rights reserved. 21 Retention Panel Question for “Retention” How prevalent are retention programs? What do your physician colleagues/friends say about them How much of a difference does it make? What would you do differently to make it better? What would you like to know from the audience?
  22. 22. Session Recap
  23. 23. © 2015 M3 USA Corporation. All rights reserved. 23 Hospital and Private Practice MDs Have Similar Concerns Almost half of physicians expect to look for a new position in the next 5 years There’s no “one size fits all” in what job factors are being sought Onboarding programs are important Retention programs need to be proactive Few residents receive any career guidance
  24. 24. Thank You
  25. 25. © 2015 M3 USA Corporation. All rights reserved. 25 Respondents were geographically dispersed – and similar to the 2010 Census Bureau data. 6% 17% 21% 7% 7% 14% 6% 6% 16% 6% 21% 19% 5% 8% 15% 4% 5% 17% 7% 16% 18% 5% 9% 15% 7% 6% 17% New England Middle Atlantic South Atlantic E. South Central W. South Central E. North Central W. North Central Mountain Pacific 1Q14 (n=243) Oct 2014 (n=710) Licensed MDs 2010 FSMB Census of Licensed Physicians, J. Medical Regulation: Vol. 96, No. 4, p15

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