scorecardresearch

Why it is High Time for the Healthcare Industry to Adopt HR Tech Solutions?

A report by the National Healthcare Retention and RN Staffing revealed that the turnover rate was 17.8 percent in 2019 for the hospital industry. High employee attrition ultimately leads to an entirely new phase of recruitment, which can be both time-expensive and time-consuming.

healthcare sector, artificial intelligence, healthtech, healthcare news,
Health data is kept locally on work computers becomes insecure and prone to theft. (File)

By Vicky Jain

The entire landscape of different industries changed overnight after the COVID-19 pandemic wreaked havoc across the world. Owing to the disruptions caused by the pandemic, various industries started to rethink their strategies and revise business models and technology emerged as one of the most responsive and reliable assets to help them get there. While the healthcare industry has been slow at adopting technology, the rising demand to meet the upcoming challenges has necessitated the need to adopt technological solutions, especially as part of the human resources function.

The backbone of a well-run healthcare organisation is its efficiency in administrative tasks. Technology can play a significant role in easing HR administrative tasks, lessening the time and energy spent by professionals in doing administrative tasks. A Medscape Physician Burnout and Suicide Report published in 2021 revealed that too much administrative task is one of the biggest drivers of burnout in the healthcare industry. While keeping up with the administrative tasks can be stressful, a robust HR tech platform can help ease plenty of the administrative work including payroll, employee onboarding, time off tracking and benefits.

How HR Tech Offers Limitless Possibilities to the Healthcare Sector

Healthcare is a highly regulated industry that presents numerous challenges to HR managers. To provide better healthcare services and overcome the challenges, technology adoption is the key. Here’s how human resources technologies can bring unlimited possibilities to the sector.

Employee Attrition or Turnover

As businesses continue to bear the brunt of The Great Resignation, they are finding it hard to retain employees. A report by the National Healthcare Retention and RN Staffing revealed that the turnover rate was 17.8 percent in 2019 for the hospital industry. High employee attrition ultimately leads to an entirely new phase of recruitment, which can be both time-expensive and time-consuming. However, by leveraging a human resource management system (HRMS), it is possible for HRs to get feedback from employees through satisfaction surveys as well as understand and prioritise changes which are essential to make employees stick to the company. Through better employee experiences, it is possible to reduce the attrition rate to a good extent. People analytics which is an essential feature of today’s HR software gives valuable insights to HRs about their employees. This helps them understand the employees and make meaningful decisions to enhance their experience.

Compliance

Compliance in the healthcare industry is critical and challenging at the same time as HRs have to deal with plenty of sensitive data. Thorough background checks, regular certifications, and complex licensing documents happen to be just a few of the tasks that HR managers need to take care of for ensuring compliance. With the help of HR tech, it not only becomes easier to generate reports on compliance but also allows HRs to track if the regulations are being thoroughly followed. Also, staying up-to-date on the compliance laws can be daunting. But with the right technological solutions, it is possible to keep abreast of the changes happening as updates happen automatically.

Employee Burnout

Burnout is a big issue in the healthcare industry. Research by NEJM Catalysts has shown that nearly 96 per cent of professionals in the healthcare sector agree that burnout is a serious issue in the healthcare sector. Some of the major reasons for burnout in the healthcare industry are loss of autonomy, bad work-life balance and lack of appreciation. Employee assistance programs offered through HRMS can help to create an atmosphere that encourages openness, honesty and transparency. Aside from automating time-consuming manual tasks, AI-based technologies can help identify trends and employees who are at an increased risk of burnout. Through meaningful training programs, HR tech also allows employees to upgrade their skills and contribute significantly to the growth of the organisation. This obviously leads to better recognition and appreciation.

Also, addressing well-being and mental health in the workplace can make big a difference. Digital solutions can support positive behavioural change through therapeutic approaches. They can be accessed at any time and from any place, providing instant help without any long waits which is often the case with in-person therapy.

Conclusion

It has become the need of the hour for highly regulated sectors to adopt digital solutions not just to improve treatment and patient outcomes but also to enable HR leaders to support healthcare staff and address their demands. As we move forward, the role of technology in HR will further gain prominence to redesign and recreate the employee experience and change the future of people management in the healthcare sector.

(The author is a Co-Founder & CEO, uKnowva- 360 degree HRMS. Views expressed are personal and do not reflect the official position or policy of FinancialExpress.com.)

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.