The last few years have put the healthcare world under immense strain, leading to unexpected pressures in hiring and retention. To ensure excellent care and achieve business goals, it’s essential to have the right Case Management leadership in place – and compensation is a key factor in ensuring those searches are successful. While every salary negotiation and conversation will differ, here are a few topics and strategies to consider as you seek Case Management talent while being mindful of salary budgets and the highly competitive talent marketplace.
Benefits Go Beyond Just Pay
As expected, the movement towards higher salary budgets will likely continue into 2024. According to Payscale, pay increases in 2024 are projected to reach an average of 3.8%, up from the previous norm of 3% annual raises. Notably, the 2023 edition of the same survey also predicted a 3.8% increase, but actual gains over the year reached 4%. Inflation is one of the major forces driving this demand for higher salaries and an increased need for skilled, experienced workers in healthcare-related fields.
When navigating compensation conversations with top candidates, hiring managers should start from a strong baseline of reliable data and understanding. This covers comparable salaries within their organizations, along with comparative data for these roles across the Case Management world overall. Start with a base salary that is competitive enough to attract (and retain) top candidates but sustainable enough to support the organization’s short-term and long-term financial health. Remember: salary negotiations – and overall salary budget considerations – should also take future growth and potential raises into account.
Hiring exceptional Case Managers requires more than just competitive salaries, however. Top candidates are interested in well-rounded compensation packages that address their whole lives, not just their salaries. In addition to pay, expect compensation negotiations to include questions about:
- Career development: MIT Sloan researchers found that 67% of employees want to advance their careers, but 49% say they lack the necessary advice to make it happen.
- Expanded health benefits: Offering great health insurance always makes a difference, and adding expanded benefits, like mental health support and family leave, can attract and retain even more top talent.
- Flexible scheduling: Research has found that work overload can triple the risk of burnout in healthcare workers. To reduce turnover and improve your odds of landing top Case Management talent, add flexible scheduling and ensure they have plenty of coverage.
Making Your Case with the Employee Value Proposition
Successfully hiring Case Management professionals in today’s competitive hiring market requires positioning the overall employee value proposition to highlight best its strengths and how those correspond with candidate wants and needs. Working with an experienced executive recruiter, like Healthcare Recruitment Partners, can provide an even greater advance since recruiters are experts at finding the best ways to “sell” your opportunity to candidates so that it speaks most to them.
These strategies can help you have mutually beneficial and successful compensation conversations with candidates:
- Focus on how your opportunity provides candidates the chance to truly make a difference in people’s lives.
- Highlight positive and inclusive aspects of the company’s culture and work environment.
- Emphasize opportunities for career development, mentorship, promotions, and professional advancement.
- Share information on recognition programs and incentives, such as performance-based bonuses, public recognition, and other rewards. These often enhance the appeal of the “base” package while highlighting how your company rewards motivated and productive employees.
- Maintain an open, responsive dialogue that treats each candidate as an individual with unique needs and personalizes the offer to them.
Healthcare Recruitment Partners is here to be your Case Management recruiting partner in 2024! Our experienced recruiters work with you to identify top talent – including passive talent – and provide support throughout the hiring process. We’re here to ensure the best possible results for you, the candidates, and your clients. Contact us today to learn more about how we can help you achieve your goals.
By Michelle Boeckmann
Founder of Healthcare Recruitment Partners, Michelle Boeckmann has over twelve years of experience placing seasoned leadership Case Management candidates in acute care hospitals and healthcare systems. She and her team, along with a database of over 32,000 professionals and counting, can give you an advantage in a competitive market, whether you’re looking for highly specialized talent or a need for a placement for an open position quickly and discreetly.has over twelve years of experience placing seasoned leadership Case Management candidates in acute care hospitals and healthcare systems. She and her team, along with a database of over 32,000 professionals and counting, can give you an advantage in a competitive market, whether you’re looking for highly specialized talent or a need for a placement for an open position quickly and discreetly.