healthcare

employment
report
Q1, 2012

from the desk of Steve McMahan

Employment in the healthcare

profession is expected to grow
nearly twice as fast as the general
economy, increasing by 29 percent
and resulting in a projected 3.5
million new jobs by 2020.
Steve McMahan
EVP of Corporate Services, Randstad US, Professionals

The outlook for the healthcare sector

appears to be very bright for the foreseeable
future. Attributed as a main factor in driving
economic growth, the healthcare industry
continues to deliver solid job growth month
after month. In May, healthcare and social
assistance employment grew by 34,000 jobs
according to the Bureau of Labor Statistics
(BLS). Employment in the profession is
expected to grow nearly twice as fast as the
general economy, increasing by 29 percent
and resulting in a projected 3.5 million new
jobs by 2020.
Coupled with the increasing need for
experienced healthcare professionals, our
clients are in need of solutions that deliver
cost savings. With more than $4 billion in
spend under management today, Randstads
Managed Services Program is ranked #1 in
the world by Staffing Industry Analysts in
Healthcare MSP and delivers significant cost
savings for our clients every day.
Additionally, several other market dynamics
are driving the tremendous growth within
the healthcare market, including an aging
population, healthcare reform, and the
increased emphasis on quality and patient
satisfaction. These trends require hospitals
and nursing and residential care facilities to
invest in skilled, hard-to-find talent to meet
the needs of an ever-changing industry.
Considering the challenge of managing
fluctuations in patient census levels, and
the uncertainty of healthcare reform
legislation, many hiring managers continue
to leverage temporary or contract healthcare
professionals to fill short-term or immediate
job needs. In our own business, we are seeing
high demand for family practice physicians,
hospitalists, ICU registered nurses, nurse
practitioners, and pharmacy technicians.

Not surprising, the Randstad Healthcare

Employee Confidence Index, was 58.4 in
the first quarter of 2012, indicating positive
confidence levels particularly when it
comes to optimism in workers ability to
find new jobs. Moreover, an overwhelming
80 percent of healthcare workers feel it is
unlikely that they will lose their jobs, and
nearly one-third (31%) are likely to look for
a new job in the next 12 months.
Based on the increasing need for healthcare
services, we believe the sense of personal
confidence in our latest employment
report will only increase. Most importantly,
healthcare organizations will need to focus
on recruitment and retention of these
highly-sought-after workers in order to
maintain adequate levels of skilled talent to
navigate this complex industry.

healthcare industry insights

healthcare employment report index

Unemployment rate by occupation

Randstad Healthcare employee confidence index

Q1 2012

According to Staffing Industry

Analysts, several occupations
within the healthcare field are
amongst some of the most
highly skilled jobs with the
lowest unemployment rates.
Further, the healthcare staffing
sector is projected to have
one of the highest growth
percentage increases out of all
other industry segments, at 7%
from 2012 to 2013.

Source:
Bureau of Labor
Statistics and Staffing
Industry Analysts

experts powering healthcare | visit us online at www.randstadhealthcare.com

The Randstad Healthcare

Employee Confidence Index, a
measure of overall confidence
among U.S. healthcare workers,
was 58.4 in the first quarter
of 2012, according to a recent
online survey conducted by Harris
Interactive on behalf of Randstad
Healthcare. The newly launched
survey of 4,341 U.S. adults, among
which 252 are employed in the
healthcare industry, indicates
positive confidence levels (above
50), particularly when it comes
to optimism in workers ability to
find new jobs and in the future of
their current employers.

macroeconomic confidence

personal confidence

Strength of economy

Ability to find a new job

Nearly half of healthcare

workers believe that the
strength of the economy
is staying the same.

49%
24%

27%

Majority of healthcare
workers expressed optimism
in their ability to find new
employment

60

58%

50
Healthcare workers believe the
economy is:

40

Healthcare workers are:

30
getting stronger

confident

staying the same

feel neutral

getting weaker

do not feel confident

20

Job availability

10

31%
10%

Future of current employer

Healthcare workers:

Healthcare workers believe:

more jobs are available

35%

the same amount of jobs

are available
fewer jobs are available

18%

Nearly half of healthcare

workers believe that fewer
jobs are available.

experts powering healthcare | visit us online at www.randstadhealthcare.com

47%

confident in employers future

66%

feel neutral about employers future

not confident in employers future

19% 15%

When asked about the future

health of their employer, the
majority of those surveyed
revealed they feel confident.

U.S. job security & transition index

Job transition

Methodology

51%
31%

When asked how likely

you are to look for a
new position within the
next year, nearly a third
of workers indicated a
desire to do so, yet half are
reluctant to search.
Healthcare workers are:

18%

likely to look for new employment

neither likely nor unlikely to job search
not likely to begin searching for new
employment

Likelihood to lose job

80%

Healthcare workers feel they are:

likely to lose their job
neither likely nor unlikely to
lose their job
not likely at all to lose their job

An overwhelming 80% of
healthcare employees feel it
is unlikely that they will lose
their job.

about the report

8% 12%

experts powering healthcare | visit us online at www.randstadhealthcare.com

This survey was conducted online within the

United States by Harris Interactive on behalf
of Randstad Healthcare from January 9-11 &
February 15-17 & March 13-15, 2012, among
4,341 adults ages 18 and older of which 252
are employed in healthcare, which included
physicians, healthcare administrators, as
well as other healthcare professionals. This
online survey is not based on a probability
sample and therefore no estimate of
theoretical sampling error can be calculated.

About the Randstad Healthcare

Employment Report
This quarterly Randstad Healthcare
Employment Report provides a snapshot
of the latest workforce trends across the
country. Three key indices are measured:
the Randstad Healthcare Job Security Index,
which captures how likely respondents
think it is that they will lose their job or
that their job will be eliminated in the
next 12 months; the Randstad Healthcare
Job Transition Index, which captures how
likely respondents are to look for a new job
in the next 12 months; and the Randstad
Healthcare Employee Confidence Index that
measures employees overall confidence
in the economy, their employer, and their
ability to find other employment. The
Employee Confidence Index is calculated
from the results of four components
that reflect these aspects of employee
confidence. For each component item a
score is calculated by taking the difference
of the percentage of positive responses
and the percentage of negative responses.
These four scores are then averaged to
indicate an overall level of employee
confidence, with each score ranking on
a scale from 0 (no confidence) to 100
(complete confidence). A reading above
50 indicates a positive confidence level.

about Randstad Healthcare

we are experts
powering healthcare
visit us online to see how: www.randstadhealthcare.com.

About Randstad Healthcare

Randstad Healthcare, one of the largest
healthcare staffing firms in the U.S., was
formed in 2012 when two leading healthcare
providers, Clinical One and Locum Medical
Group, came together to form a market
leading, all-inclusive healthcare staffing
partner. Together, Randstad Healthcare has
been matching healthcare professionals
with career opportunities at Americas top
healthcare facilities for over 25 years. From
large hospital systems and rural medical
centers, to physician groups, insurance
companies, clinics, and Fortune 500

10

companies, Randstad Healthcare offers

full-service staffing capabilities, including
physicians, nurses, advanced practice, case
management, allied health, and vendor
managed services.
For more information, please visit
www.randstadhealthcare.com.
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experts powering healthcare | visit us online at www.randstadhealthcare.com