Statistics show the nursing shortage is still a crisis, but 2023 could be a turning point.
Front-line nurse don’t need numbers to know that the nursing shortage is wreaking havoc on their workplaces. Nevertheless, the data do make a convincing case that it’s past time to get serious about making changes. And in 2023, recruiting and retaining good nurses could be the most critical area of focus in determining a hospital’s success.
Numbers tell a dire story
The financial cost of the nursing shortage couldn’t be clearer. The 2022 Nurse Salary Research Report by Nurse.com found that of 2,516 nurses surveyed, 29% were considering leaving the profession altogether.
If you’re considering a change in work settings, you have plenty of company. For the 28% of nurses who did so, dissatisfaction with pay and management were top reasons. The percentage of nurses considering changing employers was 17% (up from 11% from 2020). The average number of years of experience was 22.5 (down from 26 years in 2020).
With vacancy rates are at all-time highs. hospitals have strong incentive to decrease turnover. For every bedside nurse who is lost, hospitals incur $46,100 in cost. For every 1% decrease in turnover, the average hospital saves $262,300 annually, according to the 2022 NSI National Health Care Retention & RN Staffing Report. Most (61.2%) hospitals had nurse vacancy rates over 15%.
New approaches needed
What do all these numbers mean to you? The nurses you’re working with are more mobile, less happy with their jobs, and less experienced. There are also fewer of them.
“The reality is that hospitals have chronically operated on the thinnest margins of nurse staffing. This erodes the safety of patient care and the trust that nurses have toward their employer,” warned Jane Muir, PhD, FNP-BC, a postdoctoral research fellow at University of Pennsylvania School of Nursing.
Regular merit increases, the ability to use full scope of nursing practice, and managers were top factors in job satisfaction in the Nurse.com report. To learn more about what’s needed in 2023, Nurse.com talked with prominent nursing leaders.
Burnout prevention is key
About half of nurses are reporting burnout, and turnover rates are at 20% to 30%, found a recent study.
Nurses at hospitals with burnout reduction programs stayed in their jobs for 20% longer. What’s more, those hospitals spent 36% less on recruitment than hospitals without such programs. What factors contributed to burnout most? Long hours, lack of support, frequency of assaults, and high-stress settings are among the most reported.
On the positive side, hospitals with less burnout and less turnover (due to better work environments) saw impressive cost savings. “The findings provide timely and targeted evidence on per-nurse costs, both yearly and over 10 years, to hospital leaders and policymakers for financial investment in nursing resources,” reported study author Muir.
Staffing is everything
In real estate, the most common trope is location, location, location. To combat the nursing shortage, it’s staffing, staffing, staffing. “Staffing matters, full stop. If hospitals can’t staff safely, they should close beds designated for …read more
Read full article here: nurse.com
