Veteran nurses are becoming harder and harder to find as the United States faces a looming nursing shortage, but the state of Kentucky is experimenting with new ways to incentivize registered nurses to work in their hospitals. Many hospitals report that newly graduated nurses are important but that experienced nurses are also essential, especially in critical care settings.
Fewer nurses means larger patient loads which increases the likelihood for mistakes and health complications. A nursing shortage combined with an aging general population presents a large problem for healthcare employers which is why Kentucky hospitals have begun offering cash bonuses and other incentives to help fill nursing jobs and counter a nursing shortage that is expected to grow worse in the near future.
Mark Vogt, CEO of Galen College of Nursing, tells www.Courier-Journal.com, “For a long time we’ve been talking about a nursing shortage that’s coming to our country. I believe that we are on the front end of that nursing shortage, not only in our community but in other parts of the country.”
According to the Bureau of Labor Statistics, national job openings for registered nurses are expected to increase by 16 percent through 2024, and in Kentucky, more than 16,000 new openings for registered nurses are expected by 2024.
One Kentucky hospital is offering nurses a $6,000 sign-on bonus in exchange for a two-year work commitment or up to $24,000 worth of student loans paid off after committing to work for four years. Many nurses are also offered cash bonuses for referring nurses with experience.
Hospitals in Kentucky are seeing their incentives being paid off with one hospital reporting the hiring of 61 new nurses in the last 60 days. The University of Louisville hospital hired a record 100 nurses in 60 days according to John Elliott, the chief human resources officer.
To learn more about the state of Kentucky’s use of incentives to recruit and retain registered nurses, visit here.
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