Over the next 15 years, one million RNs will retire, creating an enormous experience gap in the nursing field. At the same time, there are not enough experienced teachers and slots available for hands-on clinical training for students.
In the face of these market conditions, numerous facilities are resorting to creative strategies to recruit and retain staff. But, when the allure of the five-figure signing bonuses, subsidized housing, tuition reimbursement, and other incentives gives way to the realities of the workplace, many nurses may end up leaving their jobs.
This begs the question: Are the trending financial rewards and other incentives the best investment for hospitals looking to hire the right long-term fit or are they merely plugging holes for a costly, short-term fix?
There is no quick fix or easy solution to the recruiting and retention struggles that many facilities experience. For some, the incentives seem to be working. For most, it’s creating a safe and supportive work environment. And overwhelmingly, it’s a combination of the two.
We explore the issues facing hospitals and facilities today and dive deeper into solutions that different states and workplaces are implementing in our newest white paper: Nurse Recruitment & Retention: For Love or Money?