Recently, the healthcare industry is experiencing a significant increase in demand of their services. It is projected that healthcare occupations will grow over the next decade by between 15.3 and 23.6 percent. While this is encouraging, this growth can also be alarming as the industry is simultaneously experiencing a workforce crisis due to a scarcity of qualified applicants. A large percentage of the current healthcare workforce is nearing retirement and not enough applicants are coming to take their place. For example, there is projected to be over a million registered nurses retiring in the next 10 to 15 years and there are not nearly enough personnel coming into the workforce to back up that level of turnover.
If your organization has been having issues hiring and retaining quality candidates, you are not alone. Many organizations across the country are experiencing major issues with hiring and retaining qualified applicants to meet their increasing needs. See our infographic for additional information:
It is understandable that some of these statistics may be worrying for your organization. Fortunately, there is a solution to support your organization’s retention strategy and power through this workforce crisis: create a retention strategy that includes data-driven decision making when hiring staff, personalizing onboarding, evaluating competency and developing leaders.