Locum Story: Long-Term Strategic Partners in Healthcare

14 June 2024

This job of Locum Tenens was initiated as a makeshift policy to meet temporary doctor and staffing shortages.

Slowly, career opportunities emerged as one of the medical professional’s top career choices. In this article, we bring into the discussion table the demand for locums and the expectations of new job seekers in the next few years.

Locum Tenens: How Common Is It?

Locum tenens is, without doubt, a fast-growing segment in the healthcare industry. However, many of the largest facilities and practices in the USA have leveraged the efficacy of locum job placement. They incorporate these positions into their staffing models.

Although the concept of the modern locum tenens dates back to the early 1970s, since there is no turning back, the sector is managing a dream run of growth.

About 7% of physicians in the US have associated themselves with the locum tenens position within the last year.

Moreover, almost 85% of facilities are integrating temporary service providers. In the last decade, the number of locum tenens doctors has sharply increased. The rate of increase is massive( 90%). Hence, you can understand how common it is the concept of employment in the US medical sector.

The Future of Locum Tenens

Since the COVID-19 pandemic, the move towards gig work and contracting has grossly affected the entire healthcare industry. Moreover, spending on locum tenens increased drastically by 28% in the year 2021.

Almost 60% of healthcare funds go towards inducting self-employed practitioners. The Association of American Medical Colleges conjectures that the shortfall of healthcare professionals will approach 140,000 by 2033.

The situation brings with it waves of concerns for the vulnerable aging population and also the medical workforce. The locum tenens positions address the shortfall, as well as providing patients with healthcare requirements.

Why Are Locum Tenens Jobs in Demand?

Recent data exposes some of the most concerning and surprising trends among physicians. They include those who are looking for contract-based positions.

Furthermore, the reports also bring to the forefront the reasons behind healthcare professionals’ preference towards short-term placements.

According to a survey, 60% of the respondents opine that they are looking for new positions. Moreover, nearly 25% of physicians under the age group of 40 opine that they are avoiding long-term or permanent positions due to burnout.

Moreover, after the pandemic, the healthcare sector faced an enduring staffing shortage. Consequently, stakeholders feel pressure from within.

Under such serious circumstances, the locum tenens has emerged as a viable alternative for physicians and other healthcare professionals who want to be engaged in the workforce but on their terms.

Work-life balance

Locum tenens offers a degree of flexibility not found in full-time healthcare positions. Temporary placements allow physicians to experience a range of environments and demographics while setting schedules that work for them.

Everyone knows that the present world of professionalism is grappling with issues like work-life balance and increasing stress. Organizational management, especially in the medical field, is looking to work on coping with immense pressure. Locus tenens provides an advantage. Professionals who aim to attain work-life balance are looking for locums job placement.

Better pay

Competitive pay is another driver of locum tenens growth. Moreover, the temporary healthcare positions may culminate in the form of 50% more payment compared to the comparable full-time placements.

As a result, it allows the healthcare profession to earn more money while working with flexibility. Temporary employees are responsible for health insurance and retirement planning, which can erode some of those profits.

These are a few reasons attributed to the increasing popularity of locum tenens positions in the healthcare industry. With a more equitable work-life balance, better pay, and, most importantly, less stress, it brings multiple benefits. Hence, it becomes easy to say why so many doctors are entering the locum tenens position.

A Hassle-Free Career

One key benefit of the locum tenens job is a hassle-free career. When professionals have this job, there are zero teaching and administrative responsibilities. Furthermore, there are zero coding and billing hassles or, say, staff management issues.

Experts say that the care providers who embrace this approach reap the benefits. Here, the professionals get much better flexibility from the hospitals. As a result, the job becomes much more stressful and hassle-free.

Freedom To Travel

The locum tenens are best known for their freedom of travel. This recruitment approach allows doctors to engage in multiple healthcare bodies, and that too in different places.

If you can visit multiple places and seek new career opportunities, you have flexibility and freedom. This is, without question, one of the prime benefits that healthcare professionals get.

Pre Retirement planning

One of the benefits linked to locum tenens is pre-retirement planning. Some doctors have retired from their full-time jobs but still want to engage in practice.

This approach to service best suits these professionals. These professionals are looking to finish their medical careers with locum work.

Many seasoned medical professionals have retired from full-time engagements. They suggest that they have made the right decision by engaging in part-time jobs at different care units. They say that the flexibility of the work structure provides them with the edge.

Read More: Healthcare Jobs That Will Be Most in Demand 2020–2025

Managing the Debts

Another core benefit of locum tenens is working with new doctors. The respectable earnings from the job help one manage debt while studying in medical school.

Even the National Association of Tenens Organization(NALTO) says that an individual can get two ways to manage their student loans.

They think that the students are using different ways to pay back their along with the flexibility that they are getting from the hospitals. Working in the locum tenens allows them to provide coverage for weekends or months. The opportunities are quite enticing.

Change Will Keep Coming—Are You Ready For It?

Locum Tenens has grown into a nationwide, multibillion-dollar industry used by nearly 90% of America’s healthcare facilities. In every state, thousands of providers accept temporary placements every year, ensuring that people in underserved communities get the medical care they need.

Though locum tenens has a short history compared to that of other industries, it offers a reliable, sustainable staffing solution in areas lacking access to healthcare.

With locum tenens, we can build a healthier, safer society. If you’re considering a career change, accepting a temporary position may be just the push you need.

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Ankita Tripathy

Ankita Tripathy loves to write about food and the Hallyu Wave in particular. During her free time, she enjoys looking at the sky or reading books while sipping a cup of hot coffee. Her favourite niches are food, music, lifestyle, travel, and Korean Pop music and drama.

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Best Paying Jobs In Consumer Durables

Get ready for a fulfilling, steady, as well as challenging career if you are looking for a job in the industry. Before you find out what are the best paying jobs in consumer durables, you will need to understand the characteristics, requirements, and eligibility of the industry. In this article, we will discuss jobs in consumer durables and why consumer durables is a good career option. Furthermore, we will also talk about what a job in the industry requires an applicant to be. Read through to the end of the article to learn about the pay grade of jobs in consumer durables, as well as the best paying jobs in consumer durables. Consumer Durables – Why Is It A Good Career Path? Consumer durables mainly include products and goods that people use on a daily basis, and they have a long life. On the other hand, consumer non-durables are the ones that do not have a long life, and people need to consume them in less amount of time. Consumer durables include appliances, furniture, electronics, cleaning, culinary, motorized vehicles, and others. Although a job in the industry might not appear quite profitable in the first instance, as you build your experience in the industry, you start getting paid really well. If you are a graduate or someone who wants to start a career, then a job in consumer durables can be an excellent option for you. Why The Consumer Durables Industry Is A Great Career Option? Although everyone has their own reasons for joining a particular job industry of their choice. However, the consumer durables industry is one of the best options if you want to do something interesting and you like working through diverse options. The following are the major reasons why you must consider working in the consumer durables industry: 1. Better Compensation Image Source: www.patriotsoftware.com Although employees in every industry always seek better-paying jobs, there are still jobs in certain industries that do not have a good pay structure in return for the work. However, in the industry, there are many career options that come with a good salary structure. Hence, any job in the consumer durables industry is appealing to someone who wants a better salary structure from the start. 2. Ability To Work In Diverse Jobs Since there is a variety of product options in consumer durables, there are diverse job options as well. Due to diverse job options, the opportunities for jobs have increased a lot in this industry. Furthermore, if you want to gain experience and skills after graduate school, a job in consumer durables is a great option. This is because of the fact that consumer durable products are available in large numbers, simple to use, and are greatly profitable as well. 3. Flexible Working Shifts If you do not like flexible working shifts and want a more scheduled job, then this industry is not a great option for you. However, by working according to flexible hours, you will be able to get more time for yourself. Employees working in the industry find flexible working schedules better. What Are The Best Paying Jobs In Consumer Durables? Below given are the best paying jobs in the consumer durables industry that you must aim for now: 1. Sales Manager In this job, you will need to supervise and manage the sales activities and the sales personnel. Apart from that, you will also need to focus on the sales activities of the corporation on a daily basis. You will also need to make a sales strategy and sales objectives and monitor their performance. 2. Retail Manager Retail managers have the responsibility to run and manage retail stores. Apart from managing the employees, you will need to keep a track of the inventories as well. 3. Social Media Manager Here, you will need to promote the products and offers of the brand with the help of social media platforms. Furthermore, you will also be responsible for organizing campaigns, developing campaigns, and messaging people. 4. Finance Manager You will be concerned about the finance of the business if you work as a finance manager. You will need to make financial reports, create financial strategies, and monitor investment activities. In addition, you will be in charge of managing the company's revenue and expenses. 5. Product Designer If you are a product designer, you will have a lot of demand in the industry. The average salary of product designers is $100K. You will also need to monitor the entire designing process of the consumer durable products that the company you are working for. To design products, you will have to work with product managers and engineers. Best Paying Jobs In Consumer Durables- Scale Of Payment The different jobs in consumer durables have different salaries since the responsibilities of the jobs are different in every case. A job in the industry will allow you to work in the area of your interest. Whether you are interested in household durability or you have more knowledge of technology and electronic appliances, you will still get decent pay if you have good knowledge of the sector that you are working in. As a starter, you will get a decent pay of about $15,000. This is a great number for someone who is starting out in the consumer durables industry. As you rise through the ladder in the industry, once you become a marketing manager, you will be able to earn $143K on average. However, a business analyst in the industry earns an average salary of $78K in the USA. Summing Up In the field of consumer durables, you will be able to come across a wide range of opportunities, in addition to a large number of benefits. The reason behind this fact is that consumer durable products are available everywhere, and also, they are always in high demand. Apart from that, these products are easy to use and also have a high cost, which enables companies and workers to make a good profit. Read Also: Is Investment Managers A Good Career Path Is Finance Consumer Services A Good Career Path? How Many Jobs Are Available In Consumer Services?

Let’s Make a Deal: Learn How to Become a Stockbroker

Many people don't have the time or energy to manage their own stock portfolios. Individuals and institutions alike outsource this job to a stockbroker. How to become a stockbroker will not be a matter of question if you follow the write-up in an effective manner. If you're interested in becoming a stockbroker, know that the competition is fierce. Many people leaving school are looking to become stockbrokers. Do you have what it takes to make your way in this career? Being a stockbroker isn't easy. You'll face long hours and need strong dedication. If you think you can do it, give it a shot. Continue reading below to find out how to become a stockbroker. Slay the competition and join the ranks. How To Become A Stockbroker? The world of finance is one filled with glamourized notions of wealth and excitement. If you're successful, this could be a reality. You should first think hard about this decision. This career isn't for everyone. Introverts and extroverts alike can find themselves with a successful finance career. You'll face challenges, as the process of becoming a stockbroker is intense and demanding. First, consider your skill set. A stockbroker spends many hours of the workday on the phone. You'll need to be able to communicate well with clients and other traders. Research is essential. You'll need an in-depth understanding of the stock market. You should be able to relay this information to your clients in a digestible fashion. Let's talk about education. How Required Education: Often, stockbrokers don't need to fulfill any specific education requirements. That doesn't mean, however, that you will get away without a college education. The competition is tight. A bachelor's degree is almost always necessary if you want to stand out. A master's degree would be better. This will show your prospective employers that you've acquired additional skills and abilities. You won't need to have a specific major, but a degree in finance or business will help. Think about degrees in accounting, business, economics, or finance. Search Internships: Many brokerage firms and investments banks offer internship programs. This will give you an opportunity to work in a finance environment. You'll have the opportunity to learn the ins and outs of the profession. You'll have a higher chance of getting hired once you graduate. Think of an internship as a sort of extended interview. Licensing: To work as a stockbroker, you'll need to obtain the necessary licensing. To obtain the licensing, you'll need to pass two exams. These are the Series 7 and Series 63 exams. These can be pricey but you can get a personal, business, or student loan for this purpose from NowLoan.co.uk or similar brokers. The Series 7 exam covers the trading of different types of securities. Series 63 focuses largely on state laws and regulations. You'll need to find a sponsor before you can sit for the exams. You'll probably need to get hired by a brokerage firm or investment bank before you take the exams. They should be registered with the Financial Industry Regulatory Committee (FINRA) or another similar authority. Some firms and banks may require additional certifications. You should ask about this during the hiring process. Certain licenses and certifications will increase your chances and earning potential. Other Considerations: Becoming a stockbroker is no easy task. Potential hires are subject to harsh scrutiny. Different ways you need to consider how to become a stockbroker. Background Checks: Brokerage firms and investment banks will run a background check to examine your criminal and financial history. If you have a history of serious legal trouble, you'll be thrown out of the hiring pool. If you have proven to be financially irresponsible, this will damage your chances. This means you shouldn't have any recent tax liens, repossessions, or bankruptcies. Remember, you're interested in a finance career. Your job will be to give advice to clients about managing their investment portfolio. If you can't handle your own finances, how can you be trusted to handle another's? Finding a Firm: Not all firms and investment banks are the same. Some are larger or smaller. Some work internationally. Find one that fits your desires and personality. New stockbrokers often find large firms to be intimidating. You'll be surrounded by people who know what they're doing. Smaller firms are good for those who want a more communal feel. These environments tend to be a bit warmer. They also tend to offer higher commission rates. The downside to a smaller firm is the size. The name is less-known. It may be more difficult to find potential clients. Some firms allow you to become a sub-broker. Sub-brokers act on behalf of a brokerage firm but are not a member of one. Kotak Securities Franchise is one such company. To do this, you must meet most of the same requirements as a regular stockbroker. Working on Commission: As a stockbroker, you'll get paid on commission. The client pays a commission on the trades you execute. It's up to you to build a clientele and gain confidence. The commission from each trade will get split between you and the firm. Your firm may offer you a higher or lower commission rate based on the number of trades you execute. If you execute more trades, you'll likely get a larger share of the commission. The firm has a vested interest in generating revenue. Many firms increase their share of the commission if they generate more revenue. This acts as an incentive and a means of generating more business. Dedication: Many new stockbrokers back out of the game. You'll need to demonstrate a strong work ethic and drive. The most successful stockbrokers are those who put in the hours and dedicate their soul to the profession. That's why you should be absolutely sure you want to become a stockbroker before you make the choice. Getting Started In Finance: The world of finance is somewhat enigmatic to the average citizen. If you're thinking about a finance career, you're probably already aware of some of the quirks. This guide is meant to give you an introduction to the basics of how to become a stockbroker. Take the time to think about the requirements and decide if this is a career for you. To find out more, check out our other finance-related topics. Read Also: Is Polyester Stretchy? – Its Materials & Properties [Detailed Explanation] Top 6 Different Types Of Scarves Names And Its Benefits How to Thicken Chili – Tried and Tested

Benefits that Employees Actually Look For

As company culture is changing across US workplaces, potential employees are being more choosy about the things they’re looking for from an employer. Employees needs are different today, and so are the benefits people are looking for. To attract top talent, you’ll want to offer a strong benefits package with benefits employees are actually looking for. Recruiters are working harder to find top talent by helping companies create more attractive benefits offerings. Benefits Offerings Should Change With the Times In a recent survey by GlassDoor, approximately 60% of those asked said they strongly consider benefits and perks before accepting a job offer. A full 80% said they would prefer better benefits over a bump in pay and feel valued when employers offer good benefits. Job seekers are looking for a robust benefits package, that includes at least some of these. Benefits that Employees Actually Look For: Flexible Work Schedule: This might mean the ability to work from home or adjust your work schedule on occasion. The goal is for employees to achieve a better work-life balance, especially those with children. Companies like Netflix are leading the industry in employee flexibility, giving workers autonomy to create a schedule that works for them, while still being productive. It may mean that parents of young children come in earlier than their co-workers and leave earlier to pick their kids up. This flexibility also allows for self-care and a sense of independence and helps companies attract and retain top talent. Good Health Benefits: Employees are not interested in bare-bones, fall down and break something insurance policies or those with high deductibles. More businesses are listening and offering more benefit-rich insurance, with the option for Flexible Spending Accounts or a wider variety of plans to choose from. Employers can also opt to cover a portion of employee’s coverage as a benefit. Health insurance may be the most expensive perk that you can offer employees, but it is one of the most important. Better Vacation Time: Employees want to be able to take time off as needed. Americans are notoriously bad at using vacation days and leave $224 billion dollars in vacation time behind annually. More companies are beginning to adopt open, or unlimited, vacation policies. This can be a win-win for both employers and workers, saving an average of $1,898 per employee annually. Companies save time and money by no longer having to track employee vacation or having to pay out unused vacation days. Employees benefit by taking days as they need them, delivering more flexibility and autonomy. It sends a message to employees that the company trusts them to make their own decisions, so long as their work is not affected. Other Perks: Things like paying for parking, offering tuition assistance or a free gym membership also rank high on the list for employees. Small gestures like free snacks go a long way with employees, making them feel valued. If you aren’t working hard to create meaningful personal connections with your employees, you are making a mistake. Showing genuine interest in them, and their families if applicable, goes a long way. By offering meaningful benefits for your employees, you’ll boost morale, and retain a better workforce. Read Also: Is Your Company Offering Enough To Potential Employees? 5 Major Tips To Increase Employee Engagement In A Call Centre Industry

Locum Story: Long-Term Strategic Partners in Healthcare

Locum Tenens: How Common Is It?

The Future of Locum Tenens