The challenges of the healthcare industry today require hospitals and health systems to apply all available resources to a strategy toward reducing cost and improving quality. One of healthcare organizations’ greatest resources — and often the key to the success of new initiatives — is their employees. Attracting and retaining skilled employees necessitates a nurturing environment that encourages and rewards innovation through both material and nonmaterial benefits.
While tangible benefits, such as health insurance and compensation, are important to employee satisfaction, what may be more important are intangible benefits, such as respect and recognition. “It’s not about the money,” says Paul Spiegelman, founder and CEO of BerylHealth, a company focused on the patient experience. “People want to feel valued.” In fact, most of the following pillars of success involve abstract concepts that, while difficult to define, may ultimately separate a “good” workplace from a “great” one.