Healthcare Employees’ Confidence Declines in the Third Quarter of 2014
Healthcare professionals less likely to report feeling secure in their jobs, more likely to anticipate job hunting
U.S. healthcare employees’ confidence decreased to the lowest level in more than a year, falling to 54.3 in third quarter of 2014 from 59.8 in the previous quarter. However, the Index remains above the positive confidence threshold of 50.0. The Randstad Healthcare
Employee Confidence Index, an online study among 168 healthcare employees, which included physicians, nurses, healthcare administrators and other healthcare professionals, was conducted by Harris Poll on behalf of Randstad Healthcare. The study found waning confidence in the strength of the economy, with just 19 percent of healthcare employees believing the economy is getting stronger, representing a 12 percentage point decrease from Q2 2014.
Healthcare professionals also reported lower confidence levels regarding their own personal employment situation. In fact, the Randstad Personal Confidence Index, a measure of employees’ confidence in their own employment situation, fell by 3.5 points from 77.1 to 73.6 in the third quarter. Contributing to the drop, healthcare employees’ optimism in finding a job and sense of job security both declined this quarter. Healthcare employees’ willingness to job hunt represented one of the largest increases in the third quarter. Well over one-third (36%) of healthcare employees are now likely to job search in the next 12 months compared to 28 percent last quarter.
“We’re seeing a relative roller-coaster in confidence levels among healthcare employees, reflective of the ever-changing nature of the healthcare environment today,” said Steve McMahan, President of Randstad Healthcare. “What deserves attention and concern for healthcare organizations across the country is the significant number of employees likely to seek new employment. As the leaders of these organizations are keenly aware, the ability to deliver optimal patient care and ensure patient satisfaction is largely influenced by consistent, quality staff at the right ratios.”
Keeping healthcare staff engaged and satisfied has always been an important objective; however in today’s healthcare environment, employee engagement of healthcare employees has a direct tie to patient satisfaction and revenue. According to a recent Towers Watson study, a major U.S. hospital network sought to determine how its work environment and organizational practices affected employee engagement, patient satisfaction and patient willingness to recommend the hospital. The study found that employees’ views of empowerment, career development opportunities and teamwork influenced engagement. In addition, employee engagement was a key predictor of patient satisfaction, leading to an increased likelihood that patients would recommend the network’s hospitals to others.
“It goes without saying that disengagement leads to turnover, something our healthcare organizations simply can’t afford,” said McMahon. “As healthcare executives and leaders seek ways to retain hard-to-find quality and specialized healthcare talent, boosting engagement and providing adequate support to healthcare staff are two great places to start.”
Q3, 2014 Survey Highlights:
Healthcare Employees’ Job Security Drops
More than One-Third of Healthcare Employees Now Likely to Look For New Job
- Although still high for most healthcare employees, job security levels dropped this quarter, decreasing by eight percentage points. Seventy-three percent of healthcare employees say it is not likely they will lose their jobs in the next 12 months, compared to 81 percent last quarter.
Healthcare Employees Expressed Waning Confidence in Finding a Job
- In the next 12 months, 36 percent of healthcare employees say they are likely to look for a new job, representing an eight percentage point increase from Q2 2014.
Healthcare Employees Have Low Confidence in the Strength of the Economy
- This quarter, healthcare employees expressed less confidence in their ability to find a job compared to last quarter. Nearly half (49%) say they are confident in their ability to find a job in the next 12 months, compared to 61 percent in second quarter 2014.
- The number of healthcare employees who say the economy is getting stronger decreased significantly in the third quarter of 2014 from 31 percent to just 19 percent, a 12 percentage point decline. Thirty-four percent of healthcare employees believe the economy is staying the same, while nearly half (46%) believe it is getting weaker.
This survey was conducted online within the United States by Harris Poll on behalf of Randstad Healthcare from July 8-10, August 4-6 and September 9-11, 2014 among 3,144 adults ages 18 and older, of which 168 are employed in healthcare, which included physicians, nurses, healthcare administrators and other healthcare professionals. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact email@example.com
About Randstad Healthcare
Randstad Healthcare is one of the largest healthcare staffing firms in the U.S. and offers market leading, all-inclusive healthcare staffing solutions. Randstad Healthcare has been matching healthcare professionals with career opportunities at America’s top healthcare facilities for over 25 years. From large hospital systems and rural medical centers, to physician groups, insurance companies, clinics and Fortune 500 companies, Randstad Healthcare offers full-service staffing capabilities, including physicians, nurses, advanced practice, case management, allied health and vendor managed services. For more information, please visit www.randstadhealthcare.com
Randstad US is a wholly owned subsidiary of Randstad Holding nv, a $22.0 billion global provider of HR services. As the third largest staffing organization in the U.S., Randstad holds top positions in permanent placement, office and administrative, IT and accounting and finance. From professional services, commercial staffing, recruitment process outsourcing, to managed services and more, Randstad delivers a comprehensive range of temporary, temporary-to-hire, permanent placement and outsourced placement services. With its 5,324 employment experts, Randstad puts an average of nearly 100,000 people to work in the U.S. each week, through its network of more than 900 branches and client-dedicated locations.
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