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Investing in your current staff is great, but what about new hires? It is important to asses candidates for those top skills that will drive patient satisfaction and HCAHPS scores.
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1 Content Property of Pinstripe, Inc.
Talent’s Impact on HCAHPS Presented To IHES
March 6, 2013
2 Content Property of Pinstripe, Inc.
Introductions
Mike Soisson SVP, Healthcare Practice Leader
Tara Cassady SVP, Client Service
3 Content Property of Pinstripe, Inc.
Compelling Pressures
4 Content Property of Pinstripe, Inc.
Impact on Your Workforce
Impact of Your Workforce
Assessing Candidates, Costs and Your Current State.
Today’s Discussion
5 Content Property of Pinstripe, Inc.
Patient Room
Environment
Patient Experience
Patient Satisfaction
HCAHPS Score
Drivers for Payment Levers
Quality Measures
Clinical Outcomes DSH Payments
6 Content Property of Pinstripe, Inc.
Investment in your current staff is great… …but what about new hires?
7 Content Property of Pinstripe, Inc.
Common Current Practice
• Performance History
• Educational Background
• Knowledge Areas
• Tactical Abilities
• Certifications/Licensure
• Likeability
• Job Search Motivation
Necessary Next Practice
All of those, and:
• Cultural Fit
• Customer Service
• Workplace Motivators
• Adaptability to Change
• Coach-ability
• Openness to Innovation
• Character Traits
Assessing Candidates
8 Content Property of Pinstripe, Inc.
New Required Skills
Passionate & Engaged
Team Players
Patient Centered
Critical Thinkers
Technology Oriented
Sense of Urgency
9 Content Property of Pinstripe, Inc.
Lower reimbursement equals less cash and less capital to re-invest. Is it possible to get more for less?
10 Content Property of Pinstripe, Inc.
Centralized Services • Billing
• Finance
• Payroll
• Food Service
• Environmental Service
• Credentialing
• Compliance
• Recruitment?
Take Advantage of Consolidation
11 Content Property of Pinstripe, Inc.
• Recruitment team overhead • Technology costs • Advertising/job boards • Recruitment marketing • Candidate travel and lodging • Relocation expenses • Process improvements • On-boarding
HR’s Budget • Recruitment team overhead • Technology costs • Advertising/job boards • Recruitment marketing • Candidate travel and lodging • Relocation expenses • Process improvements • On-boarding
HR’s Budget
• Agency fees • Hiring manager investment • Overtime • Search firm fees • Cost of turnover • Lost operating revenue • Time to productivity
Organizational Costs of Vacancy
12 Content Property of Pinstripe, Inc.
Shift Fixed Expenses to Variable Expense
Client Fixed Expense (thousands)
Pinstripe Variable Expense Solution (thousands)
Monthly New Hires
Pinstripe’s solutions deliver 15-40% savings.
Jan Mar May July Sep Nov
140
100
60
Imp
lem
enta
tio
n
Savings
13 Content Property of Pinstripe, Inc.
We’ll bet you’re still thinking your talent acquisition is fine.
But are you truly confident it’s prepared to adapt?
14 Content Property of Pinstripe, Inc.
Common Practice
• The “gut check”
• Time to Fill metric
• Cost of Hire metric
• Recruiter Likeability
• Quantity of Applicants
What You Should Expect
• Retention
• Aging of Requisitions
• Data-based Decisions
• Workforce Planning
• Cost of Vacancy Metrics
• Recruiter Effectiveness
• Quality of Candidates
• Candidate Satisfaction
• Hiring Manager Satisfaction
Assessing Your Talent Acquisition Function
15 Content Property of Pinstripe, Inc.
Financial Analysis
Direct Recruitment Costs
• Recruitment advertising/marketing.
• Recruitment staff costs.
• Contingency/Retain search fees.
• Onboarding expenses.
Leadership Costs
• HR Leadership salaries attributed to recruitment.
• A portion of hiring manager salaries attributed to time spent on recruitment.
Staff Turnover Cost
• Turnover costs of new employees.
• Assumes 1.0 times annual salary.
• Knowledge loss of new employee.
• Orientation and training costs of preceptors.
Registry, Agency & Overtime Costs
• Overtime due to vacant positions.
• Registry and Agency due to vacant positions.
• Lost revenue due to vacant positions.
16 Content Property of Pinstripe, Inc.
Our Impact on Compelling Challenges
Operational Efficiency
• Workforce Planning. • Prioritize openings that drive revenue. • Innovation, Agile, LEAN and Six Sigma practices.
• Thorough assessments and competency testing. • Patient satisfaction and quality outcomes. • Compliance and continuity of care.
Quality
Technology
Service Excellence
Reduce Costs/ROI
• Access to latest HR Technology without capital investment. • Ongoing maximization of technology. • Attracting and hiring the “high-tech” workforce.
• Competitive Advantage - “Employer of Choice.” • Brand Differentiation. • HR, Hiring Manager Satisfaction, and Candidate Satisfaction.
• It’s all about the metrics. • Reduced Costs; Time to Fill; Quality of Hire; Engagement. • Patient Satisfaction; Physician Satisfaction; Retention; ROI.
17 Content Property of Pinstripe, Inc.
• Instilling confidence in your leadership?
• Talking to their customers every day?
• Aligning with your organizational strategies?
• Effectively playing the role of Talent Gatekeeper for both new hires and existing staff?
• Fostering a Culture of Innovation and Change?
• Flexibly adapting their practices to address your new needs or challenges?
• Knowledgeable about what’s coming next?
• Making proactive decisions based on metrics?
• Sharing executive dashboards and reports?
Is your HR Team…
18 Content Property of Pinstripe, Inc.
What’s Missing from Your Recruitment Process?
19 Content Property of Pinstripe, Inc.
Your People!
20 Content Property of Pinstripe, Inc.
Awards & Recognitions
2012 HROA North America Recruitment Customer Relationship
2012 Everest Group RPO Star Performer
HRO Today RPO Baker’s Dozen Five Consecutive Years
• Led by human resource executives with deep healthcare provider experience.
• Provides customized, scalable solutions.
• Produces transformative results.
• Increases candidate quality.
• Driven for innovation and continuous improvement.
• Averaging 97% stakeholder satisfaction.
Pinstripe Healthcare
21 Content Property of Pinstripe, Inc.
With GREAT PEOPLE & GREAT CARE Organizations Achieve:
• More Engaged Employees. • Deep-Rooted Cultures. • Lasting Patient Relationships. • Quality Outcomes.
22 Content Property of Pinstripe, Inc.
HAVE YOU
SETTLED AT
GOOD OR DO YOU STRIVE
TO BE GREAT
23 Content Property of Pinstripe, Inc.
“Pinstripe got our brand
right away. They use
the same words we
would, and are actually
more conscientious in
customer service than
we were internally.”
- Debbie Walkenhorst, Regional VP HR
SSM Health Care – St. Louis
Mike Soisson [email protected]
(717) 795-9010
Tara Cassady [email protected]
(262) 439-1428
PinstripeHealthcare.com
Thank You!
24 Content Property of Pinstripe, Inc.
Appendix
25 Content Property of Pinstripe, Inc.
Sample Executive Scorecard
Hires= 189
Hiring Manager
Interviews=353
Recruiter Interviews=6
83
Sourced 21,862
Current Opens
Sourced Candidates
Recruiter Interviews
Hiring Manager Interviews
Offers Extended
Offers Declined
Offers Accepted
99 21,862 683 353 239 47 189
90 Day Retention
96.5%
HM Interview: Offer
1.23:1
Period from 6/1/2012 through 12/31/2012
Recruiter Interview: HM Interview
1.93:1
Agency & Traveler Costs
Locum Tenens Costs
Overtime Costs
Search Fees
Recruitment Marketing Costs
$ $ $ $ $
Average Days Open
89 (67 aged reqs)
98% Hiring Manager Satisfaction
97% Candidate Satisfaction
$ Average Cost Per Vacancy