Healthcare institutions are the backbone of our society, responsible for the well-being of individuals in times of need. To ensure the highest standards of care and safety, hospitals and healthcare facilities must adhere to a multitude of regulations and compliance standards. A dip in service levels and compliance can lead to an array of issues - and many of these issues stem from a lack of engagement by workers. 

Engaged healthcare workers who feel valued by their employer lead to healthy, happy patients and high-quality care. A recent healthcare employee survey showed that only half of respondents feel valued as employees and 41% are considering leaving

… so, how do you increase engagement? 

Let’s start with why compliance matters in the first place. 

Healthcare is one of the most heavily regulated industries. Compliance standards and regulations are in place to protect patient safety, maintain the quality of care, and ensure ethical practices. These standards can include guidelines related to patient privacy (HIPAA), clinical care (CMS), and facility safety (OSHA), among others.

Compliance is not just a box to tick; it's a commitment to providing the best possible care for patients. Meeting these standards is vital for maintaining public trust and ensuring that healthcare organizations continue to function efficiently.

One of the crucial components of meeting compliance standards is having the right number of staff on hand. Adequate staffing ensures that patients receive timely and appropriate care, and it allows healthcare workers to meet their professional obligations effectively.

When hospitals are understaffed, employees are forced to work longer hours and handle heavier workloads, which can lead to:

  • Decreased Morale: Healthcare workers may become disheartened due to increased stress and workload, which, in turn, can lead to decreased morale.
  • High Turnover: Stressed and overworked employees are more likely to leave their positions, resulting in high turnover rates.
  • Difficulty Meeting Compliance: An understaffed hospital may struggle to meet compliance standards because overburdened staff may inadvertently miss important protocols or procedures.
  • Challenging Shift Scheduling: As more employees leave due to the stress, filling shifts becomes more difficult, resulting in unpredictable schedules and increased workload for those remaining.

Smarter compensation can be a solution.

Employers can combat low employee engagement and high turnover by refreshing their existing compensation and bonus structures.  

A smart bonus from Keep, for example, is designed to attract and retain top talent and improve employee engagement. Keep bonuses are delivered as upfront cash that vests or is earned over time, meaning employees receive the full bonus with a contractual agreement to stay (and perform at a certain level) for a set time period - usually a few years. This approach incentivizes employees to stay with the organization while simultaneously rewarding them for their loyalty. 

By implementing smart bonuses, healthcare institutions can achieve several objectives:

Improved Employee Engagement: Offering a lump sum of cash tied to retention motivates employees to stay with the organization, fostering a sense of commitment and engagement.

Enhanced Retention: The vesting structure encourages long-term employment, reducing turnover rates and the associated costs of recruiting and training new staff.

Meeting Compliance Standards: An engaged and stable workforce is better equipped to meet compliance standards, ensuring that healthcare organizations consistently provide high-quality care.

Morale Boost: Employees who feel valued and rewarded for their dedication are likely to experience improved morale and job satisfaction.

Maintaining service levels in hospitals is a multifaceted challenge that depends on the dedication and engagement of healthcare workers. Adequate staffing is critical for meeting compliance standards and ensuring quality care. Offering innovative compensation solutions like smart bonuses can help organizations attract, retain, and engage their workforce, ultimately leading to better patient care and overall efficiency in healthcare operations. By supporting their employees in this way, hospitals can fulfill their mission of providing excellent care while creating a more sustainable and rewarding work environment for healthcare workers.

Learn more about smart bonuses with a Keep demo.