Pinstripe Healthcare Presents: Metrics That Matter

Proprietary Content of Pinstripe Healthcare

Complete Presentation

Metrics that Matter: Recruitment and Acquisition


In 2010…

More than 250 employees

Sourced more than 2 million resumes

Filled more than 54,000 positions

For more than 50 clients

And were recognized for our tailored solutions…

Pinstripe Healthcare

http://www.aberdeen.com/


AGENDA

The Platform for Measuring Talent Acquisition Activities

The Basics & Benchmarks to Recruitment Metrics

Impact on Patient Care

Q&A

3


Tying Metrics to Money

• External environment is extending tremendous financial pressure

– Move to ACOs

– Increasing competition

– Shrinking reimbursements

– Government auditors and penalties for overpayments

• Internal focus on business function finances is increasing

– Lower costs without sacrificing quality

– Do more with fewer resources

– Align business strategies with patient satisfaction

4

Building a Business Case for Investment in People


Percentage of total healthcare costs attributed to labor.

60%


AGENDA




Q&A

6


Time to Fill

• Total number of days from opening a requisition to an accepted offer.

7

Pinstripe Benchmark

Position Time to Fill (Days)

Allied Health Professional

52

Healthcare IT Professional

48

Nurse 46

Support Service Professional

36

Pinstripe Overall Average

45.5

ASHHRA Overall Average

53.7

– Analyze by job family, recruiter and hiring manager

– Track quarter-over-quarter and year-over-year


Drivers

• Lack of clarity about required skills

• Extended timelines due to hiring manager competing priorities

• Post-and-Hope recruiting philosophy

Cost of Drivers

• Lost productivity

• Premium staff costs incurred

• Lost revenue

8

• Invest upfront time in understanding the true staffing need

• Establish a clear process and timelines for recruitment

• Create mutual accountability between hiring manager & recruiter

Actionable Steps

Time to Fill


Interview to Offer Ratio & Hiring Manager Investment

9

– Analyze by job family, recruiter and hiring manager

– Track quarter-over-quarter and year-over-year

Number of Candidates Interviewed / Number of

Accepted Offers

Pinstripe Benchmark 2.8:1


Drivers

• Lack of clarity about required skills

• Hiring manager’s decision making ability and speed

• Consensus-driven hiring

• Poor candidate screening

Cost of Drivers

• Hiring manager spends too much time on recruiting


• Premium staffing costs

10

• Conduct a job scope at the launch of the recruitment process

• Have hiring managers provide specific feedback when rejecting a candidate

• Conduct thorough recruitment pre-screening, including behavioral interview

Actionable Steps

Interview to Offer Ratio & Hiring Manager Investment


Retention Rate

• Number of employees who remain at an organization over set parameters time.

– Track against those who left (voluntarily or not) at 90 days, one year, two years, three to five years, five or more years

– Analyze by job family

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Pinstripe Benchmark 97% retained at 90 days

1% = $1 million

ASHHRA Benchmark 71% retained at one year


Drivers

• Selection and screening process

• Quality of onboarding

Cost of Turnover

• Additive recruiting costs

• Increased orientation time and expenses

• Increased HR expense

• Management burden

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• Focus on a customized, highly engaging onboarding process

• Focus on qualifications and CULTURE FIT during screening process

Actionable Steps

Retention Rate


• Percentage of hiring managers that agree or strongly agree on hiring manager satisfaction survey:

13

Pinstripe Benchmark 94% hiring manager satisfaction

“Overall, I was satisfied with the hiring process specifically as it relates to my accepted offer(s) this past month.”

Hiring Manager Satisfaction & Quality of Hire

– Track against previous scores

– If working with providers, track before and after implementation


Drivers

• Ability to fill positions quickly

• Ability to find high-quality candidates

Cost of Drivers

• Increased orientation time and expenses


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• Solicit feedback from hiring leaders regarding their experience

• Track and report quality of hire metric

Actionable Steps

Hiring Manager Satisfaction & Quality of Hire


• Percentage of new hires that rate “Excellent” or “Good” on new hire satisfaction survey:

15

Pinstripe Benchmark 98% new hire satisfaction

“Overall, how would you rate your job seeking experience?”

New Hire Satisfaction

– Track against previous new hire scores

– If working with providers, track before and after implementation


Drivers

• Onboarding process

• Engaging orientation

• Customer focused recruiting process

Cost of Drivers

• Early turnover

• Power of referrals

16

• Customer focused recruitment process

• Leverage power of technology to optimize the recruiting process

• Hardwire the soft skills and culture fit in new employee orientation

Actionable Steps

New Hire Satisfaction


17

Cost Per Vacancy vs. Cost Per Hire

• Sum of all recruitment staff, HR overhead costs, agency fees, contingency fees, recruitment marketing costs, hiring manager time, ATS cost, electronic onboarding costs

• True cost resides outside of HR Department

– Lost revenue

– Overtime costs

– Agency fees

– Management burden

Focus exclusively on cost per hire has resulted in an underinvestment in recruiting.

– Orientation time and cost

– Preceptor salaries

– Unmanned beds/operational limits

– Etc.


QUESTIONS ON THE METRICS?

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“[W]e moved our employee satisfaction, this year, into the eightieth percentile far quicker than we’ve expected across the 8,400 employees. You know, and guess what? The patient satisfaction followed right behind and is up at that top, best-style performance as well now.”

- Tim Rice, President and CEO of Cone Health


When To Hire

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Per Diem

Overtime

Temporary /

Agency Support

New Hire


21


AGENDA




Q&A

22


1. Schedule a Conversation between Finance & HR 2. Establish Confidence 3. Encourage Feedback 4. Measure, Benchmark and Share Results Snapshot

Your Next Steps

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Pinstripe Healthcare Presents: Metrics That Matter