Last year brought significant changes to recruiting, and recruiting the best physicians has never been more critical. The Bureau of Labor Statistics projects one million healthcare jobs will be added by 2024! The landscape is constantly changing, and physician recruiters need strategies and solutions to recruit and hire top talent now. Are you using the right tools? Are you finding the right candidates? Here are some ideas to make the most of your time and tools right now.
1. Measure the data. How do you know if the tools in your recruiting toolbox are working? You don’t know until you measure. We recommend starting with Cost Per Hire and Cost Per Candidate by Source. While Cost Per Hire doesn’t tell the whole story, it’s a simple but powerful metric to show how effectively you’re using your resources. Physician recruitment is all about the bottom line, so Cost per Hire is one of the most important metrics to track. Here’s how to calculate Cost per Hire:
(Total Cost to Generate Candidates) / (Total Number of New Hires) = Cost per Hire
Cost per Candidate by Source helps you dig deeper to determine where you’re finding your most qualified candidates. We’ll dig into this topic further in another article, but to get the best return on investment, you should consider what each tool provides and how much it costs. Here’s how to calculate Cost per Candidate by Source:
(Total Cost of Source) / (Total Number of Candidates Generated from that Source) = Cost per Candidate by Source
2. Consider secondary candidates. Candidates who were once contenders for an opportunity but didn’t get the job are a gold mine. They’re strong candidates you already have an investment in, and they’re worth nurturing now. Real ROI in recruiting emerges when you engage and nurture previous candidates for new opportunities.
3. Stay in contact with unresponsive candidates. The same rule applies here: you already have an investment in these candidates. You sourced them, you reached out, and we all get busy. Maybe it wasn’t the right time, or the candidate wasn’t in a suitable space to engage with you. Some time will be the right time, so keep following up with unresponsive clinicians. Persistence pays off in recruiting. For an example of how to follow up with candidates, check out 3 Recruitment Campaigns to Try in 2021.
4. Put the power of Doximity to work. Perhaps the biggest challenge in physician recruitment is finding the right channel for sourcing and recruiting, and that’s where Doximity Talent Finder (the recruiting tool built on the Doximity platform) shines. If you’re not already using Talent Finder, we’d love to show you a demo, but in the meantime, here are just a few of the reasons you should be using Talent Finder right now.
- Doximity is the largest professional network for physicians where over one million verified passive and active candidates can be reached on a tool they use daily.
- Over 84% of physicians on Doximity are open to new opportunities, and a clinician clicks on a job on Doximity every 30 seconds!
- Recruiters can harness the power of Doximity’s data with Smart Job Posts, which are delivered to the right candidates at the right time.
- Connect and communicate with clinicians via DocMails, proprietary HIPAA-compliant messages that offer an industry-leading 24% click-through rate – 8x higher than the industry standard!
The demand for physicians and other healthcare professionals will continue to rise, and recruiters have to be proactive and use tools effectively. To understand the power of Talent Finder, it helps to know how doctors are using Doximity. We invite you to take a peek inside the platform and understand the Doximity physician experience. Join us on May 11, 2021 for this special webinar.