Last month, we wrote a blog on “Trends that will shape the Staffing Industry in 2018” talking about the paradigm shift that the industry is going through. In this blog, we will be talking extensively about trends within Healthcare Staffing, which is one of the promising High Growth Sectors of the Staffing Industry.
The US and its aging population is one of the reasons behind increasing healthcare jobs and rising demand for healthcare services, resources, and staff. Also, affordable insurance plans like Obamacare has created millions insured people seeking medical assistance, eventually contributing to the growing demand for physicians, nurses and other healthcare professionals.
So, how’s the Outlook 2018 for healthcare staffing? Let’s take a look.
Rise in contingent workforce
The healthcare unemployment rate is extremely low and this may lead to higher churn of resources. With the increasing demand for healthcare professionals, the talent pool has become more or less stagnant. This may tighten the labor supply and could increase the need to resort to contingent labor. As a result, more and more organizations in the healthcare sector will be hiring temporary and temp-to-hire workers.
Increased use of social media
Social media platforms like LinkedIn are becoming a trustworthy source of information about candidates for recruiters. Organizations as well as staffing companies have started using social media more and more – in fact, the usage has grown 73% in the last four years. Check out our infographic on Growing Importance of Social Media for Staffing Companies..
Crowd-sourcing and referrals are here to stay
Referrals have always been a preferred source for recruiters as many studies show that referred employees work better and are less likely to quit. In addition, crowdsourcing is emerging as another preferred practice for healthcare companies. With crowdsourcing, employers use a community of independent recruiters to source candidates for a job opening. Crowdsourcing is inexpensive as compared to traditional recruitment processes.
Higher revenues for Staffing Companies
As mentioned previously, the tight labor supply will mean higher salaries for workers, a higher bill rate for staffing companies, and most importantly, higher revenue. Every increase in the number of job orders for staffing companies will lead to an increase in revenue. Having said that, staffing companies will still need to keep rethinking their models to stay competitive amidst changing practices in the industry.
The healthcare staffing sector shows signs of promising growth this year. While the geopolitical uncertainty in 2018 could detrimentally impact both healthcare organizations and staffing firms, the future looks extremely bright. As a staffing company, you need to constantly monitor any changes to regulations and other industry trends..By staying ahead of the curve, healthcare staffing agencies will be able to see great returns and increased client satisfaction.