Every physician dreads being in the market for a new job. Updating your CV, talking to recruiters, going on interviews, and having to negotiate your contract can be daunting experiences. However, every physician needs to be actively on the hunt for a new job for these three reasons.
- There is no such thing as a “permanent” job. Contracts for employed physicians have a termination clause which states that any party may terminate the contract without cause with a 30,60, or 90-day notice. This means that if you are an employed physician, your job is only guaranteed for the next 30, 60, or 90 days, or the terms of the termination clause. If you work as an independent contractor, then you have no guarantees and you can be terminated at any time. Furthermore, given the unstable nature of the medical markets, many organizations are down-sizing and restructuring. Physicians are losing their jobs in the process. Imagine this scenario: you get called into a meeting with human resources and you are told that your position has been eliminated due to organizational restructuring. If this were to happen to you, would you be able to have another job in 30, 60, or 90 days? If the answer is no, you need to start looking for another job right now.
- You need to know what is going on in the medical marketplace. Thing are changing rapidly in the medical marketplace and in the physician work force. To see what the latest trends are you need to be in the medical marketplace. This will allow you to stay abreast of what is going on.
- Looking for a new job gives you leverage. Looking for a new job gives you important information that you can use when it is time to renegotiate your current contract. You will be up to date on current compensation for physicians in your specialty and in your area. Furthermore, interviewing with other organizations may give you some new ideas that you can implement in your current organization. It is always a good idea to see how other people are doing things, so you can use that information to your advantage.
Please note, I am not telling anyone to quit their current job. However, I just want you to be empowered so if the time comes for you to make a career transition, you have all the tools you need. For those of you interested in seeing how doing locums can aid in a career transition, download your free copy of my eBook, Locums Tenens: Your Questions Answered.