The booming field of HIM makes employee retention more important and more difficult than ever. Top industry talent is essential to the success of your organization, but they are probably being courted by others for their skills and experience. These strategies can help you encourage the best and the brightest to stay in your workforce longer:
Offer More Generous Compensation
Money talks, and there is no more tried and tested employee retention strategy than to pay a person more. It is important, however, to offer raises in a strategic way. Offer too little, and top talent can easily be lured away. Offer too much, and you are wasting money and compromising your broader goals. Your recruiters should be regularly researching HIM salaries around the country and for professionals with various skill sets.
Offer Different Kinds of Compensation
You might not be able to offer more money, but for some HIM professionals the size of the salary isn’t their primary concern. Consider offering other kinds of compensation like an expanded benefits package, higher retirement contributions, stock options, more vacation time, or a new workspace. Don’t be afraid to directly ask an employee what kind of perks would motivate them to stay.
Offer Opportunities for Advancement
Feeling stuck in job with no hope of moving up quickly degrades employee morale. If your top talent routinely sees outside hires getting management and executive positions, they will likely look for other options. Give your top talent a realistic shot at being promoted, and offer opportunities for professional development if you feel like their skill sets need to evolve.
Offer More Flexibility
The kind of flexibility that is common in other tech fields has been slow to come to HIM. You can help your company stand out by offering work-from-home opportunities, half days, flex time, and more of a focus on projects and goals rather than schedules and routines. Giving your top talent the freedom to find the work-life balance that best works for them is a powerful motivator.
Offer a Great Office Culture
The best way to get your HIM professionals to stay is to create an environment they don’t want to leave. Take steps to create an office culture that people want to participate in and contribute to. If retention has been a problem in the past – despite your best efforts – it might be because employees thought they could find more fun, fulfillment, camaraderie, innovation, or respect elsewhere.
Taking these steps won’t just help you keep your current employees, it will help you recruit your new ones, too. Once you develop a reputation as a great place to work, the best available talent will seek you out instead of the other way around. If you need help developing a dynamic HIM workforce poised to seize the opportunities of the present and future, work with the professionals at MedPartners HIM.