Today’s healthcare decision makers are navigating unparalleled uncertainty – both inside and outside of the workplace.
According to a 2014 Aon Hewitt survey, retaining top talent, developing leaders and addressing the issues inherent to an aging workforce are among the top concerns of human resources leaders. Exterior factors also weigh heavily: roughly half of the survey respondents cited unpredictable healthcare costs and government regulation as sources of consternation.
Outsourced human resources solutions are one way both small and mid-sized healthcare providers are meeting the challenges of this fast-changing landscape. By single sourcing HR functions through one provider, ambulatory surgery centers and other outpatient facilities can focus their energies on what they do best: treating patients. At the same time, HR outsourcing provides ASCs with economies of scale and access to critical resources necessary for running a successful outpatient facility today, including:
Managing an ASC’s human capital starts with the right use of information technology. Coupled with the right HR platform, payroll and time attendance systems can help manage all of a company’s employee data, eliminating the need to develop and maintain spreadsheets – and, frequently, saving a facility considerable time and money.
It’s no secret that attracting the best talent is challenging without a competitive benefits package. But close behind after such large ticket items as salaries, medical supplies and rent, employee benefits are typically the next biggest business expense companies face. Benefits also can fluctuate dramatically in price from year-to-year, adding to unpredictability and budget woes.
HR outsourcing offers an opportunity for ASCs to gain a competitive advantage in talent recruitment and retention. By providing a one-stop-shop for benefit procurement and administration, ASCs can have access to employee benefits packages typically only offered at the largest corporations, making it easier to hire – and keep – the best recruits.
Staffing and employee relations
The price tag for high turnover at an ASC is often underestimated. Replacing an existing employee can cost as much as 50 percent of that person’s salary. For facilities with annual double-digit turnover, it often can be the difference between being profitable or not.
Numerous factors go into developing a great organization. Many HR professionals are experts at incorporating the right technology, recruitment and hiring best practices. Other HR professionals know how to deliver the best training opportunities, resolve employee disputes and manage the legal risks and complexities that go hand-in-hand with being an employer. Single-sourced HR solutions can help ASCs optimize these areas, thereby reducing unwanted turnover and improve their bottom lines.
Benchmarking and Big Data
Benchmarking allows an ASC administrator to see how a facility’s labor costs, as well as virtually any key performance indicator, match up to similar ASCs in the area or around the country. Outsourcing to an expert HR solutions provider also provides access to best-in-class knowledge databases, which can be analyzed for accurate local compensation data. By comparing your employees’ compensation to the local market, and even being able to drill down into salary data by ZIP code, individual job titles and a variety of other factors, employers are able to determine the most competitive salary range for each and every position at an ASC.
Salaries are just one area where Big Data gives ASCs an edge. Taking a holistic view of data – and the myriad ways it can help a business — allows facilities to make educated, data-informed decisions and ultimately operate more efficiently in every aspect of their business.