Talent acquisition & retention
Faced with an increasing shortfall of qualified candidates for critical positions, such as registered nurses, the HR team realized that they needed to attract and retain key talent if they were going to successfully staff their facilities for the future.
Along with a shortage of qualified candidates in critical positions, the HR team was forced to fund the high cost of turnover. But with so many locations and employees, they were unable to definitively identify trends and other causal effects at the root of these outcomes. The HR team knew that they needed to create additional programs to address these issues, however they were unable to articulate their business case to the leadership team, who made decisions based on dollars and cents.
The HR team had access to plenty of industry data, but a credible business case to leadership would need to be ROI-based using data that was specific to their hospitals and facilities.
Ease of use
A key challenge was the large number of systems that served up important workforce information. Each system provided a vital service, but aggregating the data from all sources was a significant lift. The output relied on time-consuming manual processes that didn’t scale, were difficult to repeat consistently, and were prone to human error.
The HR team needed to automate the aggregation of their data sources so they could free up their time and focus on answering questions that were meaningful to leadership and the business.
The HR team used Visier to build a compelling business case that supported the implementation of programs to reduce turnover. This included a detailed cost of turnover analysis with a bottom line of almost $15M of projected savings over three years. With such a significant upside, the leadership team quickly became engaged and supportive.
Using Visier analytics, the HR team pinpointed areas of high turnover within the organization. Their Visier enabled business case included a set of initiatives to tackle the problem with new hires and existing employees, as well as parameters to track the financial impact of their results.
“Visier is strategically important. We had up to forty systems doing work for us and we needed this level of specialization in our analytics. Visier provides us with a single place to easily research our business questions, prioritize, and make the most efficient use of our time.”VP, HR Operations, Healthcare Provider
Based on their analysis, the HR team discovered that some hospitals had a higher than average first-year turnover rate. After examining onboarding practices and other infrastructure, they focused on initiatives that supported:
- Enhanced communications
- Improved employee appreciation
- Recognition practices
- Expanded opportunities to guide the employment experience (e.g. participation in employee work committees)
One of their most successful retention concepts was the Living Wage initiative where they increased the minimum wage to $14 per hour at a hospital where retention was a significant challenge.
The HR team used Visier to measure the impact of the campaign, with specific focus on comparative results. They discovered that people in the same role but earning less than $14 per hour were more likely to leave the hospital than those people who earned an hourly wage of $14 or more. It turned out that a very slight increase in hourly wage was a powerful retention tool and far less expensive than the cost of chronic turnover. Based on these programs, the HR team drove down first year voluntary turnover from 17.8 percent to 15.3 percent.
Visier is a cloud-based solution supported by a dedicated Customer Success team. This allowed the organization to get up to speed and quickly produce measurable results:
- 14% reduction in 12-month voluntary first-year turnover after one year, resulting in top quartile performance amongst peer organizations
- Validated that a change to living wage (increasing it to over $14) was more cost effective than the expense of chronic turnover
- Moved from bottom quartile to above median performance amongst peer systems in Employee Engagement
“In order to establish credibility with the business, HR needs to speak in terms that matter to the business. Rather than talking about turnover rates, we need to talk about dollars and cents.”VP, HR Operations, Healthcare Provider