As the number of nurse practitioners hits a record high in the U.S. and demand for advanced practice providers grows, 90 percent of healthcare organizations are offering sign-on bonuses to APPs as part of their recruitment strategy, a SullivanCotter survey found.
To assess compensation practices, SullivanCotter surveyed healthcare organizations' compensation departments. The data stems from each organization's human resource information system.
The dollar amount of key recruitment and retention methods has increased significantly in the last year, the survey found.
Three survey findings on APP recruitment and retention:
1. Most (72 percent) healthcare organizations offer a moving allowance to APPs. Moving allowances were $5,064 on average, a 6.6 percent increase from 2016, the survey found.
2. Ninety percent of healthcare organizations are offering sign-on bonuses to APPs, with an average bonus of $6,415 (an 8.7 percent increase from 2016).
3. Forty-five percent of healthcare organizations are doling out retention bonuses to APPs. The average bonus was $7,011 (a 12.3 percent increase from 2016).