CompHealth, a healthcare staffing organization, revealed results from a survey administered to nearly 600 young physicians. The responses provide insights into how millennial physicians find their first positions, what they want in a job, and why they change jobs.
CompHealth’s survey found that nearly all millennial physicians (93%) own and use a smartphone. However, physicians rarely use social media tools when looking for work, with only 1% finding employment through social media (LinkedIn, Facebook, Doximity, etc.). Forty percent of placements were the result of referrals and networking.
“It was surprising to learn that virtually no young physicians were finding work through social media. Instead, many were finding jobs through old-fashioned personal connections,” says Lisa Grabl, president of CompHealth. “This study helps us better understand the motivations and interests of young doctors at the beginning of their careers, and how hospitals and clinics can build programs to attract and retain these talented young physicians.”
Other key findings:
- Although finding the right fit is the leading concern for young doctors looking for jobs (60%), only 35% of men and 23% of women attribute culture fit as a reason they left a place of employment.
- Young doctors rank the following as the biggest reasons for leaving: Compensation (59%), work/life balance (51%), and bad management (45%).
- 69% of men identify compensation as the largest reason for leaving a position.
- 56% of women identify poor work/life balance as the largest reason for leaving a position.
- While 26% of respondents indicated they had no debt, the remaining 74% have substantial debt—19% owe between $100,000 and $199,999 and 44% owe more than $200,000.
- Fourteen percent of physicians tried out locum tenens early in their career, with compensation being a driving factor for working these temporary assignments.
With the physician shortage being a top concern for healthcare providers, CompHealth wanted to better understand the processes by which young physicians search for jobs, and gain insights into their plans for post-training life. Respondents completed their medical training between 2014 and 2018.