Hospitals and healthcare systems face a difficult recruitment and retention environment. A well-crafted employee value proposition can be an important element in addressing the challenge.
Summary
Using data from the 2023 TIAA Institute Healthcare Workforce Survey, this report examines how full-time sector employees—registered nurses, physicians and surgeons, other medical professionals, office and administrative staff, and non-medical professionals—prioritize the importance of a range of job features and employee benefits. With such knowledge, an organization can more impactfully communicate what makes it an employer of choice—i.e., create an employee value proposition. The report’s findings also can help identify gaps in the employee experience.
Key Insights
- 21% of full-time healthcare employees are at risk of turnover within the next two years.
- The three most important job features among healthcare employees are salary (69% chose this), benefits (45%) and work-life balance (44%).
- The three most important benefits are paid time off (83%), health insurance (83%) and retirement savings plan (76%).
- Respondents age 60 and older are more likely to prioritize an employer’s benefits, culture and mission, while those under 40 more frequently cite work-life balance, advancement opportunities and professional development.
