Using Recruitment Incentives to Sign Your Top Choice Dermatology Candidates

I am a huge fan of making sure my clients understand the importance of knowing the current dermatology placement marketbase. Heres Why....

Recruitment incentives continue to shape the physician recruitment marketplace. A review of dermatology recruitment for 2009/2010 demonstrates acceleration in the need for dermatologists and the demand for the specialty remains strong.

When this demand is coupled with a declining supply of dermatologists and mohs surgeons, successful recruitment strategies are essential for organizations wishing to add a dermatology professional. These strategies include signing bonuses, tuition loan repayment, relocation benefits and the use of stipends for physicians in training.

Signing Bonus

According to recently published compensation surveys, signing bonuses were offered to approximately 60% of successfully placed dermatologist in 2010, ranging from $5,000 to $75,000. Dermatologists reported signing bonuses averaging $28,000 while primary care physicians reported an average of $15,000. Physicians hired immediately from a residency or fellowship program received similar bonus offers as practicing dermatologists and mohs surgeons.

Relocation

Paid relocation benefits were offered to more than 90% of successful hires in 2010. Dermatologists and Mohs Surgeons were more likely to relocate long distances and more likely to receive relocation packages. Physicians hired out of residency and practicing physicians received similar relocation packages.

Loan Repayment

Loan repayment was offered to approximately 20% of newly hired dermatologists and mohs surgeons. Physicians hired straight from training programs were more likely to receive these packages than those already in practice.

Stipends

Stipends are used by some medical groups and hospitals as an incentive to sign residents and fellows while they are still training – typically during their last full year of training. When a resident or fellow signs a contract and commits to practice with a specific group or in a specific community, the hospital or medical group can pay that dermatologist or mohs surgeon a stipend. Stipends typically range from $2,000 to 4,000 per month for 12 months. Physicians must sign documents acknowledging the stipend is a loan which will be forgiven if they practice in the group/community as agreed. If the physician does not abide by the terms of the agreement, the stipend must be repaid.

Savvy organizations will put together an individualized package for the candidate they are hoping to recruit. A thorough interview will help identify the issues and incentives that are important to the candidate. Then, once you know what's important, be creative and customize the offer to your top choice candidate.

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Testimonial

"I have the privilege of knowing Wendy while conducting physician recruitment needs for my dermatology practice. What I believe separates Wendy from other recruiters is her ability to listen to her client. She has alot of contacts in our industry not only on a professional bases but personally as well. This matters  in the Dermatology world of recruitment. She has consistently exhibited determination and follow through in getting the search process completed. We have been very satisfied with the results of her hard work and what she has accomplished for us. I would recommend her to any organization seeking qualified candidates."