5 Tips for Relocating Young Physicians

As a healthcare employer, you’re undoubtedly using different recruiting strategies with young physicians than you did with their predecessors. After all, each generation is unique. Which is why that principle applies to relocation benefits, too.

Today’s young doctors have different needs and priorities than those who came before them. The better positioned you are to meet them, the more successful their tenure is likely to be.

So, now is the time if you haven’t recently updated your relocation benefits to appeal to incoming Millennial and Gen Z physicians. Here are five data-based tips to get you started.  


1. Young Physicians Expect Relocation Technology 

The new generation of physicians is the most tech-savvy, embracing new medical technologies more rapidly and fluently than their older peers. They expect every aspect of their professional life to be digitally based, which also holds true for relocation benefits.

What do you think would impress a young doctor more: an old-school, phone-calls and forms-based process, or a state-of-the-art relocation platform where they can manage their move online anytime?

If your hospital hasn’t yet made the leap to a tech-based relocation solution, you’re overdue. The great thing is: you won’t just project a cutting-edge image that wows new hires, you’ll save time and money, too.


2. Focus on Easing New Docs’ Money Woes    

It’s a given: most medical residents are drowning in student loan debt of $200,000 or more—and, adding insult to injury, this often sparks financial anxiety, according to the American Medical Association.

For this reason, a generous relocation package that covers all their moving expenses goes a long way with cash-strapped new hires, as does reimbursing candidates quickly for travel expenses and paying their tax gross-ups.

In other words, a great way to earn young physicians’ loyalty is to assure them that you’ll ably cover their relocation expenses. But don’t worry: you can do so affordably if you structure your program right.


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Enhanced Innovation (and Profits)  

Recruiting employees from varied locations will bring fresh perspectives, experiences, and backgrounds into your workforce—and this diversity will likely foster a more vibrant, innovative work environment, and increased innovation translates to increased profits.

Research indicates that companies with more diverse management teams are more innovative and enjoy 19% higher revenue. By recruiting talent from different areas, you can ensure that your workforce is rich in ideas and perspectives—which may ultimately boost your bottom line.


3. Young Doctors Welcome Relocation Guidance   

Now, here’s a surprising statistic: according to a Merrick Hawkins’ survey of final-year medical students, less than half report receiving practical instruction on employment and business issues, leaving them feeling vulnerable and unprepared to practice medicine.

That doesn’t need to be the case when it comes to relocation—not when you choose a relocation provider that offers ample support. For example, arming new hires with step-by-step planning guides, checklists, and a network of vetted movers takes the mystery out of the process, as does giving them access to dedicated relocation specialists.

Now, it’s true that lump sum reimbursement plans are popular with some hospitals because they’re easy to administer, but they don’t help first-timers solve their moving challenges. If your hospital likes its lump sum policy, consider converting to a managed benefit plan. It’s similar to lump sum, but also provides relocation services (and, by the way, financial benefits, too).


4. With New Physicians, Location Is Everything 

According to the Merrick Hawkins’ survey, geographic location is their most important factor when weighing job offers. While many residents are drawn to large cities, work/life balance is also part of the equation.

But no matter where you’re located, one of the most valuable services you can provide to incoming physicians is to equip them with accurate, detailed data about your area: neighborhoods, housing, transportation options—even tips from future coworkers.

A strong tech-based relocation platform is the easiest, most comprehensive way to present and curate all this hyper-local information, helping new physicians feel at home in their new city.


5. Successful Relocation = Quick Acclimation 

For most newly-credentialled physicians, showing up on the first day of work is something they’ve dreamt of and worked toward for years. It’s incredibly exciting, but very stressful, too—especially when it also involves a long-distance move.

The objective of every relocation program should be to ease the relocation experience, so brand-new physicians can report for work rested and ready to go. It simplifies the details, calms the worries, and helps recent transplants adapt quickly to their new surroundings—so they can focus on their patients from Day One.

If your current relocation program isn’t accomplishing these goals—or isn’t geared to the next generation of physicians—perhaps you’d like to investigate ours. At UrbanBound, one of our specialties is the healthcare industry. We’d love to show you some solutions developed just for you.

Human Resources Today