Last month, we discussed the current staffing crisis and strategies doctors are using to respond, based on our recent member survey. Below, we review what your colleagues are paying for new hires, how they’re retaining staff , and strategies they’re utilizing to control labor costs.

Increased Pay For New Hires

Almost 500 doctors responded to our recent survey. 81% of them hired new employees over the past 12 months, while only 19% did not. We also asked what was the average pay increase necessary to hire those new employees (above existing staff pay levels)? 30% reported that they paid an extra 5-10% to attract new hires, while 24% paid an extra 11-15%, and 21% paid an extra 16-20% to recruit new employees.

Staff Retention Strategies

Meanwhile, the higher pay required to attract new hires also forced doctors to review the pay of their existing staff to retain them. The highest...