Why Workforce Intelligence Is Essential to Healthcare HR Transformation

by Revelio LabsSeptember 10, 2021

When it comes to the health care industry, many companies today have to deal with constant changes. No matter your background, it's crucial to seek workforce intelligence (WI) options that help you research the needs of workers. This ensures that you have the right plan in place to create the best workplace for all.

At Revelio Labs, we provide you with the tools you need to bring you the best insights into each company. This allows you to transform your HR practices and create the best workplace for all.

Today, we'll discuss a few ways why WI is essential to helping your business achieve the best healthcare HR strategies.

Workforce Intelligence Helps Improve The Way You Recruit Talent

One great way WI can help your business is by improving how you assess and select people for interviews. What this type of system does is that it first gathers data from your best employees. Once that's done, it provides you with feedback on which qualities to look for in candidates. This goes a long way in helping you determine who is more likely to succeed in a certain role.

WI can also help you with strategies, such as how to evaluate employment value proposition. As healthcare companies compete for talent, it's important to measure how others view the value of the jobs you offer. This allows you to tailor your employer brand message more precisely.

With these options, you'll be able to attract talent where you need it most.

Workforce Intelligence Helps You Retain Talent

In this healthcare industry, employee turnover can be a challenge. This is even more true when it comes to primary caregivers like nurses. When using WI systems, look to follow these four steps to help you retain talent.

Figure Out Who Is Resigning

It's important to keep a close eye on the resignation rates for all hospital groups across your organization. As you look into the data, be sure to look at who exactly is resigning. If those caregivers who leave are top performers, this can put your business at a disadvantage.

That's why workforce intelligence tools are an essential need for healthcare businesses. They help you determine which employees you need to retain to keep your business competitive.

Determine Why People Are Resigning

You can also use WI to perform an analysis to find out what factors can increase or decrease resignations. Here is a list of factors to keep in mind as you seek answers to why people leave your business.

  • Pay increase time frame
  • Compensation ratio
  • Promotion wait time
  • Tenure
  • Performance
  • Training opportunities

With this data-driven approach, you can effectively fine-tune your retention strategies and help encourage the right people to stay.

Set Up The Right Solutions

Once you're done with the previous two steps, work to craft a program that's specific to your findings. Here is a list of questions to ask while you put the program into place. This helps give you a better picture of what motivates your staff to stay with your company.

  • Do we have the best paths for career advancement?
  • Are our work policies flexible enough for our staff?
  • Do we have onboarding programs that help prep our staff effectively?
  • Are we fostering a good enough learn and grow environment?

Asking the right questions helps you know if management needs to create a better experience for new staff.

Track The Performance Of Your New Programs

It's also crucial to use workforce intelligence to track how your new programs are going. This helps you make improvements and catch any issues along the way. Here are some KPIs to keep track of to help measure program success.

  • Lower resignation rates
  • Better engagement scores
  • Lower patient readmission rates

This can help reveal if your programs are helping to improve the performance of your company.

Workforce Intelligence Helps You Evaluate Your Future Leaders

As healthcare companies face more staff retirements, WI can help you detect and train people who can take their place. The way WI works is that it helps assess current leaders to determine requirements for success in different positions. It also helps assess areas in which future leaders can improve.

With WI systems, you'll have the capacity to build a succession plan that best meets your needs. You're also able to start grooming your future leaders for the job when the time comes. This helps make life easier for them and helps your company be ready for the transition between leaders.

Workforce Intelligence Helps You Build The Best Team

Collaboration amongst healthcare teams is paramount in providing patients with the best care. By using WI, you can gain a better picture of each of your employees' strengths. You can also gain insights into how they can be better team players.

This helps you create plans that can help them work better with each other. It also ensures that you're building the best team possible to deliver you the best results.

Choose Workforce Intelligence Systems That Help Strengthen Your Business

When looking to transform your healthcare HR practices, always look to the best workforce intelligence systems. This allows you to attract and retain the best talent for your healthcare business.

Looking for tools to help enhance your business? Then sign up for our demo today. Our team at Revelio Lab will provide you with the insights you need to strengthen your business.