Friday, September 17, 2021

How to Fight the Nursing Exodus - From The Advisory Board's Daily Briefing

 How to fight the 'nursing exodus.' (Hint: It isn't $40,000 sign-on bonuses.)

September 14, 2021

The biggest crisis in health care right now isn’t Covid-19 spikes or economic uncertainty—it’s the dire state of the frontline clinical workforce, particularly RNs, according to this Advisory Board article. 

With demand for direct patient care jobs increasingly outpacing supply, the competition for nurses is fierce. This is especially true for RNs willing, able, and available to work in inpatient care. Recruitment strategies normally reserved for crises are now the norm; for example, offering sign-on bonuses upwards of $40,000, or extending travelers’ contracts indefinitely. While these tactics may keep your hospitals running tomorrow, here’s the problem: these band-aid solutions are unsustainable and will do nothing to stabilize your clinical workforce in the long-term. 

For myriad reasons, the current RN shortage will not reverse itself. C-suites and leadership boards must be prepared to confront hard truths regarding what it will take to stop the exodus of RNs from hospital-based care. 

Beyond budgetary impact, failing to invest now will affect quality and safety while eroding your organization’s capacity to advance growth and expand market share. 

Read on for must-do strategies for C-suite leaders working to turn the tide of the RN exodus.

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