Talent’s Impact on HCAHPS
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This document summarizes a presentation by Pinstripe, Inc. on how talent impacts patient satisfaction scores (HCAHPS). It discusses pressures on healthcare organizations from lower reimbursement tied to quality measures. Pinstripe argues current hiring practices need to assess cultural fit and traits beyond just skills. They propose strategic workforce planning, leveraging technology, and outsourcing recruitment to reduce costs while improving quality of hire. Pinstripe claims their services can instill confidence in leadership by making proactive, metrics-driven decisions to foster service excellence and achieve organizational goals.
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Talent’s Impact on HCAHPS
- 1. Talent’s Impact on HCAHPS Presented To IHES March 6, 2013 Content Property of Pinstripe, Inc. 1
- 2. Introductions Mike Soisson Tara Cassady SVP, Healthcare Practice Leader SVP, Client Service Content Property of Pinstripe, Inc. 2
- 3. Compelling Pressures Content Property of Pinstripe, Inc. 3
- 4. Today’s Discussion Impact on Your Workforce Impact of Your Workforce Assessing Candidates, Costs and Your Current State. Content Property of Pinstripe, Inc. 4
- 5. Drivers for Payment Levers DSH Payments Clinical Outcomes Quality Measures Patient Room Environment Patient Experience Patient Satisfaction HCAHPS Score Content Property of Pinstripe, Inc. 5
- 6. Investment in your current staff is great… …but what about new hires? Content Property of Pinstripe, Inc. 6
- 7. Assessing Candidates Common Current Practice Necessary Next Practice • • • • • • • All of those, and: • Cultural Fit • Customer Service • Workplace Motivators • Adaptability to Change • Coach-ability • Openness to Innovation • Character Traits Performance History Educational Background Knowledge Areas Tactical Abilities Certifications/Licensure Likeability Job Search Motivation Content Property of Pinstripe, Inc. 7
- 8. New Required Skills Passionate & Engaged Team Players Technology Oriented Sense of Urgency Critical Thinkers Patient Centered Content Property of Pinstripe, Inc. 8
- 9. Lower reimbursement equals less cash and less capital to re-invest. Is it possible to get more for less? Content Property of Pinstripe, Inc. 9
- 10. Take Advantage of Consolidation Centralized Services • • • • • • • • Billing Finance Payroll Food Service Environmental Service Credentialing Compliance Recruitment? Content Property of Pinstripe, Inc. 10
- 11. HR’s Budget • • • • • • • • Recruitment team overhead Technology costs Advertising/job boards Recruitment marketing Candidate travel and lodging Relocation expenses Process improvements On-boarding Organizational Costs of Vacancy • • • • • • • Agency fees Hiring manager investment Overtime Search firm fees Cost of turnover Lost operating revenue Time to productivity Content Property of Pinstripe, Inc. 11
- 12. Shift Fixed Expenses to Variable Expense Pinstripe’s solutions deliver 15-40% savings. Implementation 140 100 60 Jan Mar Savings May July Sep Nov Client Fixed Expense (thousands) Pinstripe Variable Expense Solution (thousands) Monthly New Hires Content Property of Pinstripe, Inc. 12
- 13. We’ll bet you’re still thinking your talent acquisition is fine. But are you truly confident it’s prepared to adapt? Content Property of Pinstripe, Inc. 13
- 14. Assessing Your Talent Acquisition Function Common Practice What You Should Expect • • • • • • • • • • • • • • The “gut check” Time to Fill metric Cost of Hire metric Recruiter Likeability Quantity of Applicants Retention Aging of Requisitions Data-based Decisions Workforce Planning Cost of Vacancy Metrics Recruiter Effectiveness Quality of Candidates Candidate Satisfaction Hiring Manager Satisfaction Content Property of Pinstripe, Inc. 14
- 15. Financial Analysis Direct Recruitment Costs Staff Turnover Cost • Recruitment advertising/marketing. • Turnover costs of new employees. • Recruitment staff costs. • Assumes 1.0 times annual salary. • Contingency/Retain search fees. • Knowledge loss of new employee. • Onboarding expenses. • Orientation and training costs of preceptors. Leadership Costs Registry, Agency & Overtime Costs • HR Leadership salaries attributed to recruitment. • Overtime due to vacant positions. • A portion of hiring manager salaries attributed to time spent on recruitment. • Registry and Agency due to vacant positions. • Lost revenue due to vacant positions. Content Property of Pinstripe, Inc. 15
- 16. Our Impact on Compelling Challenges Operational Efficiency • • • Workforce Planning. Prioritize openings that drive revenue. Innovation, Agile, LEAN and Six Sigma practices. Quality • • • Thorough assessments and competency testing. Patient satisfaction and quality outcomes. Compliance and continuity of care. Technology • • • Access to latest HR Technology without capital investment. Ongoing maximization of technology. Attracting and hiring the “high-tech” workforce. Service Excellence • • • Competitive Advantage - “Employer of Choice.” Brand Differentiation. HR, Hiring Manager Satisfaction, and Candidate Satisfaction. Reduce Costs/ROI • • • It’s all about the metrics. Reduced Costs; Time to Fill; Quality of Hire; Engagement. Patient Satisfaction; Physician Satisfaction; Retention; ROI. Content Property of Pinstripe, Inc. 16
- 17. Is your HR Team… • • • • • • • • • Instilling confidence in your leadership? Talking to their customers every day? Aligning with your organizational strategies? Effectively playing the role of Talent Gatekeeper for both new hires and existing staff? Fostering a Culture of Innovation and Change? Flexibly adapting their practices to address your new needs or challenges? Knowledgeable about what’s coming next? Making proactive decisions based on metrics? Sharing executive dashboards and reports? Content Property of Pinstripe, Inc. 17
- 18. What’s Missing from Your Recruitment Process? Content Property of Pinstripe, Inc. 18
- 19. Your People! Content Property of Pinstripe, Inc. 19
- 20. Pinstripe Healthcare Awards & Recognitions 2012 HROA North America Recruitment Customer Relationship 2012 Everest Group RPO Star Performer HRO Today RPO Baker’s Dozen Five Consecutive Years • Led by human resource executives with deep healthcare provider experience. • Provides customized, scalable solutions. • Produces transformative results. • Increases candidate quality. • Driven for innovation and continuous improvement. • Averaging 97% stakeholder satisfaction. Content Property of Pinstripe, Inc. 20
- 21. With GREAT PEOPLE & GREAT CARE Organizations Achieve: • • • • More Engaged Employees. Deep-Rooted Cultures. Lasting Patient Relationships. Quality Outcomes. Content Property of Pinstripe, Inc. 21
- 22. HAVE YOU SETTLED AT GOOD OR DO YOU STRIVE TO BE GREAT Content Property of Pinstripe, Inc. 22
- 23. Thank You! Mike Soisson “Pinstripe got our brand right away. They use msoisson@pinstripehealthcare.com (717) 795-9010 the same words we would, and are actually more conscientious in customer service than Tara Cassady tcassady@pinstripehealthcare.com (262) 439-1428 we were internally.” - Debbie Walkenhorst, Regional VP HR SSM Health Care – St. Louis PinstripeHealthcare.com Content Property of Pinstripe, Inc. 23
- 24. Appendix Content Property of Pinstripe, Inc. 24
- 25. Sample Executive Scorecard Current Opens Sourced Candidates Recruiter Interviews Hiring Manager Interviews Offers Extended Offers Declined Offers Accepted 99 21,862 683 353 239 47 189 90 Day Retention 96.5% Recruiter Interviews=6 83 Average Days Open 89 (67 aged reqs) 98% Sourced 21,862 Hiring Manager Satisfaction 97% Hiring Manager Interviews=3 53 Recruiter Interview: HM Interview Candidate Satisfaction 1.93:1 $ HM Interview: Offer Hires= 189 1.23:1 Average Cost Per Vacancy Agency & Traveler Costs Locum Tenens Costs Overtime Costs Search Fees Recruitment Marketing Costs $ $ $ $ $ Period from 6/1/2012 through 12/31/2012 Content Property of Pinstripe, Inc. 25