Larson and his team decided to do check-ins with new hires to see how the plan was working. "We'd ask the candidates if they received a welcome letter from their supervisor before they started; did they get the 30-day follow-up with administration; or even how was the CIS training. Then we'd go back to the manager, department head, or practice and point out the areas that needed tweaking. We wanted to make everyone accountable for this plan," he says.
The new retention strategy and accountability worked. Within a year, Baystate reduced turnover by over a third, from 9.2% to 5.7%.
But the struggle to keep physician retention down never ends. Larson says the next step is to bring the issue to Baystate's board and involve them in future activities to reduce turnover.
"[Retention strategies] require a cultural shift by all involved—some embrace it more quickly than others. We don't want this to be a compliance activity; rather it should be something people do because it's what should be done. We are looking to our board for more ideas on how we can move this program forward," he says.
By assessing organizational turnover and creating a retention strategy, financial leaders can potentially save millions and build a solid foundation for future growth. For more on recruitment and retention strategies, check out HealthLeaders Media's webcast next week.