Did you know that 70% of medical school graduates receive more than 50 offers from recruiters in their last year of residency? If you want to hire the best of the best, make sure you tune in to what they are looking for and ways you can stand out.
What are residents’ biggest concerns when looking for a full-time position?
Student loans and competitive salary
In a 2016 study by Merritt Hawkins, the average med student had over $160,000 in student loan debt (and that amount continues to increase). While it isn’t the only thing they care about, graduates certainly want to make enough money at their first “real” job out of school to adequately dig into those loans while still living comfortably. Many are looking for employment offers that may even include pay-back plans or debt forgiveness.
Most residents prefer to work in a hospital setting for their first full-time role because they usually offer more support, experience, and regular work routines. Hospitals also tend to offer more opportunities and are located closer to urban areas.
Residents want to find a full-time position that allows them some free time and the ability to enjoy their life outside of work. This is ranked in the top four factors when deciding what positions to accept, along with educational debt/financial packages, culture, and location.
Culture fit and lifestyle
Residents are looking for a work-life balance, but that doesn’t just mean the number of hours required. It also means they’re looking for an environment that they can grow in and feel passionate about. What makes your role stand out? What about your practice makes it unique? What can a resident expect when they are becoming a part of your team? What kind of community outreach does your team do that a new physician could get involved in?
GET RESIDENTS’ ATTENTION:
Welcoming Start to the Recruitment Process
For medical recruiters looking for new graduates to fill their resident jobs, it’s important to be more hands-on with candidates and introduce them to the whole ecosystem of recruitment. You are the gateway to available jobs and industry lingo they haven’t heard before but will frequently encounter as they get offers.
Remember that may be the first time most of these graduates are looking for a full-time position in their field. Most of them don’t know how to best field recruitment offers or what to look for. Help them to navigate their options by making sure they understand your employment package and any contracts. Don’t hesitate to translate industry jargon to clear things up. You are their resource in an often overwhelming career search. Help them understand compensation models and technology that will affect them while on the job.
Be Upfront and Prioritize Communication
Clarity, transparency, and communication go a long way. Get to know your potential candidates personally to ensure a good fit and build up a pipeline for your open positions. They will remember that connection far into the future and may even connect you with future residents of their own to add to your candidate pipeline.
Emphasize the Benefits Package
In addition to the compensation package, graduating residents will want benefits that help them achieve work-life balance and prepare for the future. Put your benefits package front and center when discussing a role with potential candidates. Some examples are on-site childcare or gyms, which can be daunting for physicians to find when they relocate for a new full-time position.
Utilize Social Networks
Social media and professional networks are a great way to get your position in front of qualified medical residents, especially because these sites are already a part of their daily routine. Posting your open positions on the YM Careers Network gets the attention of residents looking for full-time positions – and even those highly sought-after passive job seekers. Additionally, opting in to the social upgrade to have your job placed on relevant social media platforms to be seen by the right residents will substantially increase your recruiting reach.
Get Your Open Positions Emailed Directly to Qualified Candidates
Over 90% of physicians prefer to be contacted by email for recruitment-related communication. If you want to be included in the Jobs Flash email, an exclusive jobs email newsletter offered by YM Careers, your full-time positions will be sent directly to the inbox of hard-to-find candidates who are members in the participating YM Careers Network associations.
Remember, when recruiting residents for full-time healthcare positions, first consider their priorities as recent graduates: student loans, salary, location, work-life balance, and culture, and do what you can to address each of these priorities by utilizing outreach tools like the Jobs Flash email.
Post directly on multiple association Career Centers by using the YM Careers Network and make yourself a resource to candidates by providing clarity and guidance on the medical recruitment process. The more comfortable candidates are with you, the more likely they will move forward in the process.