The U.S. unemployment rate has steadily dropped since 2010. In February 2010, the unemployment rate was 9.8%, while in February 2015, the unemployment rate was down to 5.5%. This reflects the best rate since May, 2008. Employment has surged in most industries, particularly in healthcare, contributing to increased turnover in healthcare jobs.
General Employment Statistics for Healthcare workers
A fairly recession-proof industry, healthcare employment never really trailed off during the recent economic troubles. The linked Bureau of Labor Statistics chart, indicates healthcare employment has grown steadily since 2005, and that this growth has accelerated in the last few years. Around 53,000 new healthcare jobs were filled in January 2014 and 33,000 were filled in February, 2015.
Healthcare Job Quitting is on the Rise
As confidence in the economy has recently risen, so has the number of healthcare workers who quit their jobs. According to the U.S. Bureau of Labor Statistics (BLS), the Job Openings and Labor Turnover Survey shows that in 2014, more healthcare workers voluntarily left their jobs than in any time since the BLS began measuring data in 2001. The BLS found that over 3.37 million healthcare workers voluntarily leaving their jobs in 2014.
How Healthcare Staffing can Capitalize on this Trend
Current strong economic growth and low healthcare unemployment can be very good news for healthcare staffing agencies.
When confidence in the economy is high, employment numbers are healthy for the healthcare industry, and healthcare workers have options. If a healthcare employee feels they are underpaid (not unlikely, as wages have not increased significantly) or they are not happy at their current job, they are less prone to stay at that position simply for security.
In that situation, healthcare workers are more confident in the general economic situation and know that:
- There are other healthcare jobs available and they can leave their current job knowing they can likely find a new one
- They don’t necessarily need to settle for their current wages
- They may have the luxury of exploring more flexible options – i.e. trying new positions, reduced hours, or different work locations
Compounded with traditionally high turnover rates among healthcare workers, a healthcare staffing agency can take advantage of all these aspects. According to staffingindustry.com, the high level of healthcare turnover means healthcare staff are open to leaving their current positions. Consequently, they are more open to trying a temporary assignment, either for a change of flexibility or as an in-between position as they seek work more suited to their needs.
Mobile Health Can Help
Are you a staffing agency working overtime to meet increased demand? Our suite of occupational health services can help you screen, hire and get employees on the job faster. Contact us today to put the Mobile Health Advantage to work for your firm.
