Geography matters: Tailoring recruitment strategies to hire and retain the ideal provider

Recruiting and retaining providers is more challenging than ever.

In the wake of COVID-19, more physicians and advanced practice clinicians are looking for flexibility, soft benefits and career advancement. Meanwhile, the trends behind physician shortages demand a broader-view approach.

In a virtual session from Becker's HR and Talent Virtual Event sponsored by Provider Solutions & Development, Rachelle Daugherty, chief executive of Provider Solutions & Development, shared insights into strategy and data her organization has used to recruit and retain clinicians by focusing on a bigger picture than paychecks.

Five key takeaways were:

1. Demand for providers is growing nationwide. This has led to an escalating provider shortage, expected to reach 124,000 physicians by 2034, according to the Association of American Medical Colleges. The imbalance of supply and demand various by geography. By 2030, 34 of 50 states are expected to have shortages with a grade of "C" or worse. Providers are also paying close attention to the cost of living in various geographies and how far salaries will go in each geography.
2. When recruiting physicians, keep in mind that practicing medicine is a lifestyle. Providers are looking for more than just a salary and benefits. For example, providers who choose to work in a rural practice like the lifestyle of a small town, prefer a more closely knit community and value time outdoors. In contrast, those who prefer urban communities often value amenities and options that big cities have to offer. 
3. Understand your ideal candidate. Turnover rates for providers range from nearly 7 percent for physicians to 10 percent for advanced practice clinicians, according to the Association for Advancing Physician and Provider Recruitment 2022 Annual Report. Recruiting is expensive, making retention is all the more important. "It's imperative to understand your ideal candidate," Ms. Daugherty said. "The profile on what your ideal candidate is for each opportunity can allow you to understand who's going to thrive." That means getting to know what sort of support, lifestyle and patient demographics they are interested in.
4. Encourage networking and incentivize referrals. Citing Provider Solutions & Development studies from 2022, Ms. Daugherty noted that 76 percent of physicians are likely to follow up on a job sent to them by a friend or colleague. Partnering with local chambers of commerce and businesses present another opportunity. "Site visits are an opportunity to really take care of a candidate," she said. "That comes in handy and shows an individual level of care that can set you apart."
5. Creativity is key to compensation. Compensation and benefits are always important. But it's also important to be transparent and equitable about pay, to speak to the mission of the organization and to offer softer benefits. "For almost all physicians, accepting a new role is about much more than the money," Ms. Daugherty said. "They're really looking for flexibility, balance and career development."

Whether strategizing on attracting passive job seekers or pivoting to meet the expectations of younger generations of providers, recruiting teams should take a broad view of what recruiting means today, and consider partnering with a recruiting expert such as Provider Solutions & Development.