Match Day was last month, and already physicians are using Doximity to connect with their Residency Peers and colleagues. As a physician recruiter, you know well that graduating residents are in HIGH demand. New job openings in most specialties far outpace the number of new residents who are looking for jobs, and these candidates are no strangers to unsolicited job offers – which means your recruitment must be on the mark.
The average medical school graduate has $176,000 of student debt. Since they’re finally saying goodbye to med school and hello to a job with a paycheck, these candidates need to consider how they’ll pay back loans. Here are a few quick facts to keep in mind (from Merritt Hawkins’ 2015 Survey of Final-Year Medical Students):
- 25% of residents go on to obtain a fellowship. In fact, the 2015 appointment year was the largest in the history of SMS (Specialties Matching Service)
- 63% of final-year residents are recruited more than 51 times in their final year
- 56% receive no formal instruction regarding contracts, compensation, etc.
- 36% prefer to be employed by a hospital; only 2% prefer solo practice
- 98% prefer to practice in communities of 50k or more
- 68% of residents begin their job search within one year of completing residents
- 32% of residents wait until they are within 6 months of finishing to look for a job
Recruiting residents in a constructive way is paramount
It’s a fact: final-year residents are inundated with recruitment offers, often with little help or context. Most of them start getting ready for their job hunt prior to the beginning of their final year of residency, but a lot of them are starting their career searches early. These newly minted doctors have debt, but they’re aren’t all about the money.
So, what are the most important things final-year residents consider when they evaluate a medical practice opportunity?
Geographic location, personal time, and lifestyle. Free time was their greatest concern, followed by educational debt and earning a good income. What’s more, these candidates are seeking hospital employment initially, citing routine and support. They also prefer large hospitals that are close to urban areas that offer a lifestyle they prefer.
Here are 7 tips for recruiting final-year residents:
1. Money isn’t everything
- 48% of residents are mainly concerned with finding a practice that gives them free time
- Money is still important
- Work-life balance ensures a lower churn rate – 50% of physicians leave their first job in two years!
2. Get to know the candidate
- Ask what their ideal job might be, and help them understand the complex vocabulary used in today’s job descriptions
- Do current first-year physicians with your organization share common traits or backgrounds?
3. Technology is vital to success
- Are you engaging physicians on the appropriate platforms? While young doctors may love Twitter and Snapchat, they’re often hesitant to mix their professional and personal lives
- Remember, despite the increase of various outlets, most physicians still prefer email as their primary form of communication
4. Keep the Jargon on the DL
- While you should point out relevant technology and applicable compensation models, this is the first time these candidates are pursuing a job on their own, so ease up on the contract jargon
- Speak their language, not the language of HR, and try to lay out the opportunity as simply as possible
- Create an open dialogue and the physician knows exactly what he/she is getting into and just might reduce turnover down the road
5. Be a resource (from the ASPR blog)
- By being approachable and transparent, you can form strong bond with potential candidates
- Offering guidance creates a positive brand in the resident’s mind and opens a dialogue
- Even in the resident accepts another offer, your help and words of kindness will spread (they are the most connected generation, after all)
6. Be relatable
- Go beyond offering to help answer questions
- Everyone is asking something of residents, who is offering anything? Stand out and encourage them to work with you
- Learn about their professional and personal goals, e.g. having a work/life balance isn’t just about working hours and playing hours. Resident physicians also want to contribute at work and grow as human beings
7. Use Doximity Talent Finder
- Doximity supports the next generation of physicians from day one of medical school through their inclusion on the network. Bryan Vartabedian, MD, says,“Med students sign up just like doctors. They’ve been a Doximity priority since their earliest days.”
Networking with peers is critical for every level of healthcare career management, which is why 90% of all MS4s used Doximity's Residency Navigator to learn more about Residency Programs from our physician users – the average MS4 searched for 11 different residency programs. Medical residents are full members of the Doximity network and you can connect with them via DocMail and DocPosts, exactly like our physician members. This year, given the demand for these candidates – not to mention the number of medical residents using Doximity – Talent Finder should be on your list of “must haves” for recruiting medical residency graduates.
Here are a few best practices for recruiting residents using Doximity Talent Finder:
- Use resident-specific searches
- Tailor your messaging and job description to let residents know why your opportunity is a great start for their career
- Consider residents for locums and part-time opportunities. Locums tenens is becoming an increasingly appealing option for residents and fellows: It gives them the opportunity to “test drive” different healthcare facilities prior to committing to a permanent position; it allows doctors in training to work and make some extra money before starting a fellowship; and it provides scheduling freedom and flexibility
Final year residents rule – and they’re ready to be hired! If you’re not using Doximity Talent Finder to connect with residents, we invite you to try it today for free.