Undoubtedly, the healthcare space has notoriously faced persistent staffing shortages in recent years.
According to a report from the American Hospital Association, the healthcare sector is expected to account for nearly a quarter of all new jobs over the next ten years, yet the number of qualified nurses is projected to decline by 64,000 by 2030.
Physicians are also in short supply, driving the average wait time for new patient appointments to 26 days. These issues could not have emerged at a worse time, as the population has aged significantly and patient care needs have become more complex.
Unfortunately, traditional compensation models are no longer sufficient to attract or keep the best employees. As Gen Z makes up an increasing percentage of the workforce, it’s crucial to understand what benefits, perks, and cultural features can increase satisfaction and reduce turnover among young workers.
If you’re looking to ensure roles get (and stay) filled, here’s how to craft a culture and benefits strategy that fills your pipeline with quality candidates.
The Benefits and Cultural Shifts That Attract Today’s Employees
In a Gallup survey of employees who have recently left a job, 30% mentioned that additional benefits could have prevented their departure. If you’re looking to tamp down on turnover or make your healthcare organization more attractive to candidates, your benefits strategy is of the utmost importance.
Here’s what the current workforce is looking for as they make decisions about whether to accept or stay in a particular role.
Schedule Flexibility
A 2024 Handshake survey revealed that 70% of Gen Z graduates are more likely to apply to jobs with a flexible schedule.
Eighty-nine percent see flexibility as important or essential when considering which offers to accept. This is likely due to a greater generational focus on work-life balance, which 78% of Gen Z graduates say is essential to their definition of career success.
In the healthcare space, this may mean moving away from rigid eight- or 12-hour shifts and embracing self-scheduling, staggered shifts, and part-time or float pool roles. When healthcare professionals have the space they need to rest, recharge, and manage their lives, it can mitigate burnout among staff while ensuring quality patient care.
Mental Health Support
Ninety-one percent of Gen Z workers have reported experiencing mental health challenges at work. Yet, only 56% of them feel comfortable speaking with their managers about it.
Preventing burnout and increasing morale means offering resources to help employees effectively deal with their daily stress and mental health challenges. This may come in the form of:
- Gym memberships
- Meditation rooms
- Employee assistance programs
- Coverage for behavioral health services.
It’s also crucial to work toward building a company culture that emphasizes employee well-being, which can, in turn, improve productivity, engagement, and performance.
Remind your managers of the importance of positive interpersonal interaction and transparent communication, as Gallup data shows that 21% of employees say this could have prevented them from leaving their previous role.
Financial Resources
According to Handshake’s data, over 42% of Gen Z employees have thought at least a fair amount about planning for retirement. Nearly 100% say that retirement benefits are important when considering whether to accept a job.
In an increasingly volatile economic landscape, financial resources have become a crucial tool for attracting and retaining the best talent. Consider how you can go beyond traditional 401(k)s to offer retirement planning resources and student loan repayment assistance as younger employees look for ways to navigate the uncertainties.
Career Development Pathways
Eighty-seven percent of Gen Z graduates say that employer-sponsored learning and development benefits are important to them when considering whether to accept a job offer.
Many appreciate benefits like role-specific skills courses, PTO or stipends to attend conferences or pursue certifications, and employer-led mentorship programs that allow them to learn from older and more experienced employees.
You may also consider offering career pathing sessions to help employees map out their potential growth trajectory. These benefits not only help them increase their performance in their current role, but your investment also reminds them that there’s a place for them in your organization’s future.
Enhance Your Employer Brand and Value Proposition With the Right Approach to Culture and Benefits
Navigating a tight talent market requires creative benefits and cultural strategies that are aligned with what Gen Z employees need as they seek greater satisfaction at work.
By creating a culture that supports employee well-being, professional development, work-life balance, and personal growth, you can attract and retain a loyal, high-performing workforce that will support your organization’s growth and help you achieve your goals.
