No matter the role you play in your facility’s recruiting department, hiring physicians comes with a budget. In 2018, ASPR reported 65% of healthcare organizations used a search firm, with an average cost of almost $20,000 per search. Now consider that in-house recruiters averaged 32 searchesper recruiter for the year. That’s up from 27 per year in 2016. As the number of searches per year steadily increases, your facility is likely searching for ways to drive down recruiting costs. Lucky for you, we’ve compiled some of the easiest ways to save money when recruiting with a third-party firm. Your boss is going to love you for this.
1. Work with a third-party that provides flexibility and customization in how you use their tools. Options: we’re all accustomed to having them. Especially when purchasing goods and services. So why do most physician search firms provide a single (and typically expensive) option? The answer is simple: they’ve never had to provide more. But with healthcare facing a growing physician shortage and constantly evolving needs, search firms should provide a service that reflects these needs.
To efficiently allocate your recruiting budget, you’ll want to work with a firm with customizable services. The Inline Group offers a base subscription to our sourcing and screening services for $475 a month. From there, you can build up your service based on your personal hiring needs, no matter how big or small.
2. Find one firm to fill all of your hiring needs. In 2018, healthcare facilities used an average of 3.6 search firms each. Perhaps you use multiple firms to reach more candidates. But consider that 66% of physicians completing training receive more than 50 queries from recruiters. Odds are, when you hire a candidate, all three of your search firms spoke with that one candidate. The majority of search firms withhold candidate information to ensure they receive the highest payout when you decide to hire.
Alternatively, if your sourcing partner provides full transparency, you’ll know you’re receiving as many qualified candidates as possible. Through Inline’s client portal, you gain unlimited access to every candidate we’ve screened for you, organized by your list of must-have skills and traits. There’s no need to spend money on multiple search firms if you know you’ve already cast the widest net.
3. For large scale hiring efforts, utilize digital marketing for widespread yet segmented reach. This provides the most bang for your buck when you need to make a lot of hires. 86% of physician candidates are not actively seeking new opportunities. So no matter how many job boards you list on, you’re only reaching the 14% of physicians who are actively seeking change. Remember those three search firms you pay for? They’re speaking with the 14%. For facilities hiring a large number of candidates, reaching only 14% of the workforce isn’t enough. Digital marketing places your opportunities in front of the 86%. Would you rather pay full price for a pie and receive one slice or the entire thing? It’s a no brainer. As the first firm to offer digital marketing as a resource for in-house recruitment, The Inline Group has helped healthcare facilities nationwide meet their large scale hiring goals.
4. Only pay for recruiting services that actually provide exposure for your facility. When you work with search firms, do you ever get to see how they advertise your opening? If you take a deeper look, it may surprise you. The majority of search firms display your job like this: “New York City hospital hiring a family medicine doctor. Great benefits. Competitive salary.” From there, the physician won’t even hear the name of your hospital until they’ve signed an agreement with the recruiter. If a search firm is focused on your success, they’ll build you a pipeline of candidates with an established interest in your jobs. Whether you have a new opening tomorrow or in six months, this pipeline sets you up for success every time you have a hiring need.
When Inline partners with a facility, our team instantly begins vetting candidates on your behalf. Every candidate will know your facility’s name and what you offer. Our platform builds awareness around your exact opportunity, meaning each provider you speak with will have an established interest in working with you.
As healthcare hiring needs continue to evolve, so must the services provided to them. If you’re interested in learning more about saving your facility’s recruiting budget while engaging with top healthcare talent, connect with us today and schedule a consultation.