Landing Your Dream Job Cheryl DeVita Senior Search Consultant
Agenda Introduction Learning Objectives Current Trends: 2012 Pediatric Residents and Fellows Demographics Practice Settings Benefits and Incentives Compensation The Job Search & Interview Process Step 1: Preparing Your CV Step 2: Determining Your Priorities Step 3: Initiating Your Job Search Step 4: Qualifying Opportunities Step 5: Prepping for the Interview Slide 2
Introduction Learning Objectives Identify the demographic trends affecting the current supply of pediatricians Review the findings of Cejka Search s 2012 Pediatric Resident and Fellow Survey and implications for recruitment Understand best practices for finding the ideal career opportunity and organizational fit Slide 3
Introduction Motivations Toward Employment Hospital Motivations New market/market share Drive profitable service lines Cover ED call Fill a shortage Outpace competition Leverage with payors Quality improvement Pay-for-Performance Physician Motivations Work/life balance Less call Stability Collegiality Avoid medical practice complexities Access to technology/emr Malpractice coverage Reimbursement contracting Source: Health Affairs report of Community Tracking Study Slide 4
Introduction Expanding Part-Time Workforce 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 13% 31% 87% 69% 2005 2011 Part-Time Full-Time Source: 2011 Cejka Search and AMGA Physician Retention Survey Slide 5
Introduction Gender Distribution - Nationwide 2005 2011 28% 72% n 38% 62% Male Female Source: 2011 Cejka Search and AMGA Physician Retention Survey Slide 6
Current Trends 2012 Pediatric Residents & Fellows Preferred Practice Settings Hospital 54.0% Multi-Specialty Group Single-Specialty Group 28.6% 33.3% Health System Integrated Delivery System Managed Care Solo Practice No Preference 17.5% 14.3% 6.3% 3.2% 3.2% Source: Cejka Search Survey of 2012 Pediatric Residents and Fellows Slide 7
Current Trends 2012 Pediatric Residents & Fellows Benefits Rated Very Important Malpractice Insurance Medical/Dental Insurance 74.2% 71.4% Vacation Time Tail Coverage 401(k) / Retirement 50.8% 56.5% 54.1% CME Time CME Reimbursement 34.4% 34.4% Disability Insurance Life Insurance Profit Sharing Relocation Assistance 27.9% 24.6% 23.0% 17.7% Source: Cejka Search Survey of 2012 Pediatric Residents and Fellows Slide 8
Current Trends 2012 Pediatric Residents & Fellows Incentives Rated Very Important Call Pay 4-Day Work Week Signing Bonus Paid at Signing Production Incentive Educational Loan Repayment 26.2% 26.2% 25.8% 25.4% 25.4% Signing Bonus Paid on Start Date Monthly Stipend During Training 21.0% 21.0% Time to Partnership Job Share Part-time (> 50%) Part-time (< 50%) Temporary Housing / Housing Allowance 9.7% 8.2% 8.2% 4.9% 3.2% Source: Cejka Search Survey of 2012 Pediatric Residents and Fellows Slide 9
Current Trends 2012 Pediatric Residents & Fellows Sign-on Bonus Expectations Not expecting sign-on bonus $15,000 or less 33.3% 31.7% $15,000 - $19,000 11.1% $20,000 - $24,000 11.1% $25,000 - $49,000 9.5% $50,000 or more 3.2% Source: Cejka Search Survey of 2012 Pediatric Residents and Fellows Slide 10
Current Trends 2012 Pediatric Residents & Fellows Reasons for Choosing a Location Close to Family 74.6% Lifestyle 58.7% Trained in Area Personal Ties 49.2% 49.2% Previous Resident Reputation of Organization Relocation 4.8% 22.2% 20.6% Source: Cejka Search Survey of 2012 Pediatric Residents and Fellows Slide 11
Current Trends 2012 Pediatric Residents & Fellows Preferred Communities Metropolitan Community 51.6% Suburban Community 47.6% Rural Community 4.8% Source: Cejka Search Survey of 2012 Pediatric Residents and Fellows Slide 12
Current Trends 2012 Pediatric Residents & Fellows Benefits and Incentives for a Less Desirable Location Increased Compensation 70.8% Better Call Schedule 52.3% Shorter Work Schedule 44.6% Additional Signing Bonus 33.8% State-of-the-Art Equipment Higher Production Bonus 24.6% 23.1% Payor Mix 3.1% Source: Cejka Search Survey of 2012 Pediatric Residents and Fellows Slide 13
Current Trends 2012 Pediatric Residents & Fellows Preferred Compensation Model Income Guarantee 3.5% Salary with Production Incentive 86.0% Salary 10.5% Source: Cejka Search Survey of 2012 Pediatric Residents and Fellows Slide 14
Current Trends Compensation Pediatrics 1 2 Years in Specialty Mean $163,996 25 th %tile $136,206 Median $155,720 75 th %tile $176,829 Source: 2012 Medical Group Management Association Physician Compensation & Production Survey Based on 2011 Data Slide 15
Job Search & Interview Process Overview Preparing Your CV Determining Your Priorities Initiating Your Search Qualifying Opportunities Prepping for the Interview Slide 16
Job Search & Interview Process Step 1: Preparing Your CV Use quality paper; same as the cover letter Provide an electronic version in a user-friendly format (e.g., PDF) Include all contact information List education chronology; begin with the most recent Supply licensure and certification information Cite work experience; begin with the most recent Mention honors and awards List references, including contact information Do NOT include your social security number Personal information is optional Note: A sample CV will be included with the electronic version of this presentation Slide 17
Job Search & Interview Process Step 2: Determining Your Priorities Employment Options Single-specialty group practice Multi-specialty group practice Hospital employed/integrated delivery system Academic medical center HMO Contract employee Locum tenens Solo practice Slide 18
Job Search & Interview Process Step 2: Determining Your Priorities Personal and Professional Considerations Practice Location Money Lifestyle Security Distance Market Competitive Hours Fit Size Cost of Living Schools Call Weather Perks Recreation Slide 19
Job Search & Interview Process Step 3: Initiating Your Search Expected Recruitment Timeline Candidate Response to Initial Contact Initial Contact to Pre-Screen Interview Pre-Screen to Site Visit(s) Site Visit to Offer Offer to Signing Average 1 week 2 weeks 6 weeks 2 weeks 8 weeks 19 weeks Best Practice 1 week 3 weeks 2 weeks 6-7 weeks Best practice timelines reveal commitment to recruitment 24 hours Limit to one site visit when possible 48 hours maximum Clarify practice criteria, ask for draft contract in advance Source: Health Care Advisory Board Interviews and Analysis Slide 20
Job Search & Interview Process Step 3: Initiating Your Search How New Pediatric Physicians Look for Jobs Information from Program Director/Attending On-line Job Boards Networking with Colleagues Emailed Opportunities Physician Recruiters 62.9% 58.1% 54.8% 46.8% 40.3% Attending Conferences Search Engine Query Networking with Vendors 17.7% 3.2% 21.0% Source: Cejka Search Survey of 2012 Pediatric Residents and Fellows Slide 21
Job Search & Interview Process Step 3: Initiating Your Search Search through Network and New Media Slide 22
Job Search & Interview Process Step 3: Initiating Your Search Search Resources Online Resources www.cejkasearch.com www.contemporarypediatrics.com www.abp.org www.physicianjobs.net www.pedjobs.org www.jamacareernet.ama-assn.org www.elsevierhealthcareers.com www.healthjobsplus.com www.sdbp.org www.mdjobsite.com Print Resources Archives of Pediatrics Contemporary Pediatrics Pediatric Annals Pediatric News Journal of Adolescent Health Journal of Pediatrics Pediatrics AAP News Journal of Developmental & Behavioral Pediatrics Slide 23
Job Search & Interview Process Step 3: Initiating Your Search Visit Recruitment Firm Websites Slide 24
Job Search & Interview Process Step 3: Initiating Your Search Visit Organization Websites Slide 25
Job Search & Interview Process Step 3: Initiating Your Search Google Search Slide 26
Opportunity Attractiveness Job Search & Interview Process Step 4: Qualifying Opportunities Look for Competitive and Creative Offers Shared Call Part-time and flex schedules Final year stipend Outpatient only Loan repayment Signing bonus Adapt to candidate skill sets Job share Flexibility & Incentives Slide 27
Job Search & Interview Process Step 5: Prepping for the Interview Expected Interview Experience Telephone screening Introductory meeting Individual meetings with key stakeholders Hospital tour Real estate tour Dinner Wrap-up meeting Slide 28
Job Search & Interview Process Step 5: Prepping for the Interview Red Carpet Experience Reveals Commitment to Recruitment Do they: Arrange transportation? Include your spouse/significant other and family? Permit enough time with peers? Clarify role/topics of all interviews? Determine your needs/interests in advance? Provide a knowledgeable representative to guide you? Slide 29
Job Search & Interview Process Step 5: Prepping for the Interview Thoroughly Understand the Job Job description, history, expectations, culture, leadership Know What You Want Must-haves, nice-to-haves, deal killers, internal assessment Decide What You Want the Interviewer to Know about You Your main thing, career highlights, goals, strengths/weaknesses Slide 30
Job Search & Interview Process Step 5: Prepping for the Interview Sample Interview Questions Why are you interested in our position/organization? Describe your strengths/challenges? Where do you see yourself and your career in five years? Tell me about a time when you had a difficult challenge. Give me an example of an accomplishment you re especially proud of. When have you had to manage conflict within an organization? Describe a time when you were treating a patient and the outcome did not meet your original expectations. What are your compensation expectations? What haven t we discussed that you d like us to know about you? Slide 31
Job Search & Interview Process Step 5: Prepping for the Interview Performance Create Positive & Memorable Impressions Before During After Slide 32
Job Search & Interview Process Step 5: Prepping for the Interview Performance Common Mistakes Arriving unprepared Dressing too flashy or unprofessionally Exaggerated confidence Talking too little or too much Poor listener Too anxious Asking inappropriate questions Cell phone/pager interruptions Speaking negatively about colleagues/past employers Making excuses Avoiding concerns/objections Overreacting Surprises Visible body piercings/tattoos Slide 33
Job Search & Interview Process Step 5: Prepping for the Interview Close the Interview If you want the job, ask for it! (You might leave with an offer) Slide 34
Contact Information Cheryl DeVita Senior Search Consultant 4 CityPlace Drive, Suite 300 St. Louis, MO 63141 (314) 236-4484 (direct) cdevita@cejkasearch.com Slide 35
Questions & Discussion Slide 36