Dealing with attrition
As the Indian healthcare industry experiences the exponential growth, hospital organisations are shifting their focus from 'survival' to excellence. Especially, in the metropolitans one can see that hospitals are striving to be leaders in the market rather than just survivors. As a result, need for excellent manpower is now indispensable. Hence, with lucrative offers at each employee's disposal, attrition is bound to happen. In addition to this, there is a big demand and supply gap in the healthcare manpower available. In its 2009 report, a leading business magazine mentioned that by 2012 there will be shortage of 5,00,000 doctors and 10,00,000 nurses alone in India, whereas Indian medical education capacity is 31,000 per year.
No wonder that the cost of manpower resources is increasing by each day. Companies are literally bidding for good talent and attracting them with tempting salaries and designations. Undoubtedly, for any HR in the healthcare industry, retaining its employees is the need of the hour.
A Matter of Concern
Healthcare is witnessing the same exponential growth that IT and BPO industry faced some years back. Needless to say, the sector has also inherited the problem of attrition that still plagues the IT and BPO industry. "Attrition is pretty high in the industry these days. For instance, the attrition rate in Max Healthcare is 34-36 per cent. I would not call it critical but definitely important enough to be addressed," shares Surajit Banerjee, Director HR, Max Healthcare, Delhi.
With attrition, the organisation loses key skills, knowledge and business relationships. Shares Somnath Chakravorty, CEO, GM Modi Hospital, Delhi, "Whenever a well-trained and well-adapted employee leaves any organisation, it creates a void that is tough to fill."
To find a substitute is always a key challenge in this case. He adds that recruiting and training programmes for employees is an expensive affair. The company has to invest a lot while recruiting an
No wonder that the cost of manpower resources is increasing by each day. Companies are literally bidding for good talent and attracting them with tempting salaries and designations. Undoubtedly, for any HR in the healthcare industry, retaining its employees is the need of the hour.
A Matter of Concern
Healthcare is witnessing the same exponential growth that IT and BPO industry faced some years back. Needless to say, the sector has also inherited the problem of attrition that still plagues the IT and BPO industry. "Attrition is pretty high in the industry these days. For instance, the attrition rate in Max Healthcare is 34-36 per cent. I would not call it critical but definitely important enough to be addressed," shares Surajit Banerjee, Director HR, Max Healthcare, Delhi.
With attrition, the organisation loses key skills, knowledge and business relationships. Shares Somnath Chakravorty, CEO, GM Modi Hospital, Delhi, "Whenever a well-trained and well-adapted employee leaves any organisation, it creates a void that is tough to fill."
To find a substitute is always a key challenge in this case. He adds that recruiting and training programmes for employees is an expensive affair. The company has to invest a lot while recruiting an