In a partnership with Firth Third Bank, Mercy Health launched the program over the summer, which offers eligible employees $10,000 in direct home loans and requires a post-closing 18-month retention period, according to a Dec. 9 news release shared with Becker’s.
Becker’s connected with Mercy Health – Springfield President Adam Groshans to discuss the program, recruitment and retention efforts seen so far, and future plans for similar initiatives.
Note: Responses have been lightly edited for length and clarity.
Question: How has the down payment assistance program impacted your efforts to attract and retain healthcare providers in the area?
Adam Groshans: Springfield, Ohio, is a great place to live and work, which some people may overlook given our proximity to bigger cities. This program has helped us attract physicians and candidates who otherwise may not have considered relocating to Springfield by not only incentivizing the relocation, but also opening the door for conversation with these candidates about what a great place this is. We can share area recommendations, highlight the great programs in the community, and provide a warm welcome to the areas we serve.
Additionally, there was an immediate buzz of interest from our existing staff who would like to live in the community they care for. We currently have a significant percentage of our workforce that commutes in from outside the market. With the inflation we’ve seen over the last several years, we know they’re feeling the pressure of trying to keep costs down, so we see this as an opportunity to help them alleviate some of that burden by paving the way for them to work closer to home. The goal here is to open doors to help our staff – both new and existing – love where they live while doing what they love.
Q: What inspired Mercy Health to develop the housing incentives program in partnership with Fifth Third Bank?
AG: In our Springfield market, there is a growing need for talent yet a limited supply of available workforce in the immediate area. In addition to this concern, sign-on bonuses have become very competitive and are frequent additions to compensation packages in our region. In an effort to create greater value for our associates, we have created a unique benefit which will stand out from what others are offering and drive retention by attracting and keeping our associates in the community they serve and closer to home.
Our partnership with Fifth Third Bank provides us the ability to offer this program in our Springfield market, and hopefully across all of our Bon Secours Mercy Health market locations in the future. In addition, Fifth Third offers numerous packages to our associates, with or without this down payment assistance, which supports them in the home-buying process.
Q: Can you share any feedback from employees who have utilized the program, and how do you plan to build on its early success?
AG: The program is very new, so we’re still gathering feedback, but the overall response so far has been very positive. Many have shared their excitement and feelings of encouragement over having access to such a unique benefit that many of them have not experienced before.
Employees are often surprised how this program applies funds directly to their home loan at closing. Rather than providing funds to the associate, which then need to be allocated, associates selected work with Fifth Third Bank to arrange for their funds to be wired directly to their home loan on the closing date. This approach makes the stressful process of purchasing a home a little bit simpler by providing them a banking partner who can support them through their mortgage process.
Mercy Health – Springfield is adding additional funds to support this program in 2025 now that we have completed a pilot version of this program in 2024. We plan to grow our associate success stories and share those to garner more attention and excitement for this program.
Q: Beyond housing incentives, what other strategies is Mercy Health implementing to foster employee engagement and long-term community investment?
AG: In addition to a competitive lineup of health, retirement and well-being benefits, Bon Secours Mercy Health provides multiple educational opportunities through our Guild Education program, which pays 100% of associates’ tuition and fees for select clinical pathways and includes tuition assistance and reimbursement for 115 academic programs as well as undergraduate, graduate, and clinical degrees. We also provide enhanced parental leave for both moms and dads, giving them eight weeks to focus on their families.
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