The site visits are complete, and both you and the physician candidate are interested in moving forward. At this point, it is time for you as the recruiter to draft a compelling physician recruitment offer. If everything else during the physician recruitment process has gone well, what you offer – and how you present it – can make the difference between hiring your ideal candidate or losing them to the competition.
So how can a recruiter make sure that their offer is compelling enough to ensure acceptance? Below are five steps to follow when drafting a physician recruitment offer to increase your chances of closing the deal:
Step 1: Do Your Research
Because of existing health care laws, it is crucial for recruiters to have an outside party analyze a physician’s fair market value or else face possible legal problems. Make sure you are aware of what you are legally allowed to offer a candidate so as to avoid accusations of overpaying them.
Additionally, do a little research on your competition. Find out what base compensation they’re offering, if they’re offering recruitment incentives (and if so, which ones), and what their benefits package looks like. Knowing what the competition is offering can help you form an idea as to what is competitive in your area.
Step 2: Uncover Candidate Priorities
Every candidate has different goals and priorities, both professionally and financially. While some physicians prefer a steady base salary, others are more motivated by productivity based compensation. As for recruitment incentives, find out what your specific candidate is looking for. Do they have a heavy student loan burden? Are they looking for a sign on bonus? Will they be relocating cross country?
By finding out what is important to your candidate, you can then do step 3: tailor your offer.
Step 3: Tailor Your Offer
Now that you know what your competition is offering and what really matters to your prospective hire, you can begin to tailor your offer. Make sure that the compensation is competitive and that you do your best to address the key concerns for your candidate.
Step 4: Create a Visual Breakdown of Total Compensation
For many physicians, the prospect of having to parse a dense contract full of legalese is daunting. While they will likely hire a lawyer to go over the contract, many can still feel overwhelmed and have difficulty spotting the key details about their compensation package. Because of this, it can be monumentally helpful for recruiters to provide a simplified one page document outlining the base salary, bonuses, incentives, paid time off, and benefits that make up the compensation package. To make it even more attractive, recruiters can include a visual breakdown in the form of a pie chart, showing what percentage each part of their compensation package makes up the whole.
Step 5: Include All the Details
A physician planning to join your team is going to want to know every detail of their employment with you. Include details about the call schedule, expected participation in community outreach, restrictive covenants, marketing efforts on behalf of the physician, and other key aspects that will affect the physician’s practice expectations.
Key Take Aways:
- Know what your competition is offering similar candidates
- Find out what is important to your candidate, and tailor your offer to their priorities
- Make it easy for them to visualize their compensation break down and practice expectations