Confidence Levels Among Healthcare Employees Reaches All-Time High in Randstad's Latest Employee Confidence Index Survey

Staff Report From Georgia CEO

Friday, October 23rd, 2015

In mid-year 2015, the Randstad HealthcareEmployee Confidence Index rose by 9.2 points to 64.8, up from 55.6 at year-end 2014. The online survey of 243 healthcare employees, including physicians, nurses, healthcare administrators and other healthcare professionals, was conducted by Harris Poll on behalf of Randstad Healthcare. According to the mid-year 2015 report, the Randstad Healthcare ECI (64.8) surpassed Randstad US' aggregate ECI of 62.1, suggesting employees within the healthcare field are particularly confident in regards to the overall economy, as well as their personal employment prospects.

According to the mid-year 2015 report, 29 percent of healthcare workers believe the economy is getting stronger, and 36 percent believe there are more jobs available. Although 66 percent of healthcare workers say they are confident in their ability to find a new job, only 32 percent say they are likely to look for new employment opportunities in the next 12 months.

The Randstad Healthcare ECI mirrors strong job gains in the healthcare sector, according to the Bureau of Labor Statistics' September 2015 Employment Situation Summary. Healthcare led the way in job creation, adding 34,000 new positions last month and approximately 38,000 jobs monthly over the past 12 months. Hospitals gained nearly half (16,000) of the new jobs, while ambulatory care added 13,000 jobs.

"The fact that healthcare workers indicated the highest confidence levels we've ever recorded is a sign the job market for these professionals is providing more opportunities, and the sector is experiencing the rapid growth many economists expected," said Abigail Tremble, president of Randstad Healthcare. "We entered 2015 with historically lower-than-average unemployment rates for many healthcare occupations, so it's no surprise we have already seen increased hiring activity for many key positions."

Tremble continued, "In fact, according to Indeed.com, healthcare job postings increased 27 percent year-over-year from June 2014 to June 2015, and the Bureau of Labor Statistics indicates employment in healthcare has grown by an average of 38,000 new jobs per month over the past 12 months. With the number of uninsured Americans dropping to 11.9 percent in the first quarter of 2015, the lowest percentage since Gallup started tracking the figure in 2008, projected growth for the healthcare job market is quite high.

"Additionally, as Baby Boomers age, the Labor Department projects that by 2022 healthcare and social assistance will absorb nearly 20 percent of consumer spending, double the share of manufactured goods. As a result, the profession is expected to employ more than 21 million workers, 5 million more than we have today."

These factors place added pressure on healthcare employers to maintain adequate staffing levels, and more facilities are partnering with flexible staffing firms to achieve their talent needs. A study published December 2014 in Journal of Nursing Care Quality found the utilization of supplemental staff to alleviate hospital pain points, such as increased patient acuity, patient census fluctuations or temporary leave of permanent RNs, can actually improve a hospital's bottom line and increase its flexibility. These findings suggest an even greater opportunity for increased partnerships between healthcare systems and staffing firms.