Based on recent workforce trends, hospitals and health systems should consider the following strategies:
Enhancing Current Compensation Strategies
- Increase market positioning to the 50th percentile (median) or higher, especially for critical roles
- Consider introducing specialty pay to recognize specialized skillset requirements
- Utilize sign-on, referral, retention and other bonuses for hard-to-fill roles
- Ensure across-the-board or merit increases occur annually (expect 4% in 2022) to avoid market lag
- Accelerate progression to midpoint for early-in-career RNs
- Offer short-term, contract-based bonuses for vacant/night/weekend shifts
- Create or enhance in-house travel nursing programs to provide additional opportunities for current RNs
Creating a Supportive Environment
- Utilize workforce flexibility such as non-traditional schedules, remote work, weekender programs and other accommodations
- Employ career ladders to support and illustrate development opportunities and career paths
- Strengthen safety and quality processes designed to identify and correct the root cause and swiftly address issues
- Allow nurses to work to the top of their license by providing clinical and/or clerical support where possible
- Share your mission, values and diversity, equity and inclusion goals
Expanding Benefits Offerings
- Consider enhanced benefit offerings such as on-site childcare, parking or transportation, home-buying assistance, student loan reimbursement, fertility
benefits, expanded parental and eldercare leave, additional time off, or sabbaticals - Increase retirement contributions for employees who are further in their careers and/or for those who have extended tenure
- Empower employees with cash and non-cash peer and subordinate recognition programs
- Clearly and frequently communicate the value of employees’ total rewards packages
Encouraging Feedback and Collaboration
- Utilize team-based care models
- Support and encourage open-door policies
- Encourage RN input and participation in policy-making
- Provide opportunities to participate in management roundtables and the development of action plans
- Increase opportunities for workplace committee participation and other developmental experiences
- Communicate successes and failures
