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.
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.
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.