The U.S. Nursing Labor Market Report 2014

U.S. NURSING LABOR MARKET REPORT 2014

U . S . N U R S I N G L A B O R M A R K E T R E P O R T 20 14 identified.com

EXECUTIVE SUMMARY

This slideshare provides a summary of research on the

U.S. nursing labor market. Designed to assist employers in

understanding the market influences affecting recruitment,

it also highlights some of the drivers employers are using to

attract and retain top nursing talent.

http://www.identified.com


The demand for nurses is expected to increase by 2% every year, significantly

outpacing the supply by 2020.

Demand

The number of RNs under age 30 is decreasing even as more nurses retire.

An Aging Workforce

There is an increased demand for specialized nurses.

Specialization

California, Florida and New York have the most RN job vacancies.

Geography

Employers are doing more to attract and retain experienced staff.

Retention

TRENDS SHAPING THE MARKET



In 2008, RNs over the age of 50 made up 43% of the overall registered nursing

population. As these nurses reach retirement age, the nursing workforce will

lose a large portion of their most experienced healthcare professionals.

Age Distribution of Total Number of Registered Nurses Over Time

60s

50s

40s

30s

20s

1980 1990 2000 2004 2008

Source: Findings from the 2008 National Sample Survey of Registered Nurses, September 2010

30%

30%

21%

16%

3% 3%

14%

29%

37%

17%9%

23%

35%

22%

12% 14%

28%

32%

18%

8% 10%

21%

27%

30%

13%

Age



Download this presentation to learn about:

• New incentives being offered by top organizations that want to retain staff

• Five ways to improve retention

• Distribution of nurses by state and age

• Employment markets popular with RNs

• Challenges and solutions for rural placements

READ THE ENTIRE REPORT



1. California 10,900

2. Florida 7,440

3. New York 6,360

4. Ohio 4,630

5. North Carolina 4,093

6. Illinois 4,020

7. New Jersey 3,700

8. Michigan 3,500

9. Georgia 3,340

10. Massachusetts 3,290

Top 10 States with the Highest Job Vacancies for Nurses

Source: U.S. Bureau of Labor Statistics, March 2012



1. California

2. New York

3. Texas

4. Florida

5. Pennsylvania

6. Ohio

7. Illinois

8. North Carolina

9. Michigan

10. Massachusetts

1. Wyoming

2. Alaska

3. Vermont

4. North Dakota

5. Hawaii

6. District of Columbia

7. South Dakota

8. Delaware

9. Idaho

10. Montana

States with the Highest Number of Registered Nurses

States with the Lowest Number of Registered Nurses

Source: Health Resources and Services Administration analysis of the ACS 2008-2010 three-year file



A large percentage of

the nation’s registered

nurses work in Southern

states such as Texas,

North Carolina, and

Florida.

Ten percent of the U.S.

nurse population resides

in California.

SUPPLY & DEMAND

Distribution of Registered Nurses by Region


WEST

20%MIDWEST

24%

SOUTH

35%

NORTHEAST

21%

CALIFORNIA

10% of the U.S.



• Over 700,000 openings are forecast between now and 2020.

• Registered nursing ranks fourth on the list of jobs in the US with the highest

number of job vacancies.

• 90% of long-term care facilities lack enough nurses to provide basic care.

• In 2013, about two-thirds of nurses considered quitting their job due to high

stress levels.

• Floor nurse satisfaction continues to be a large predictor of retention.

Market Snapshot

Sources: http://www.aacn.nche.edu/media-relations/fact-sheets/nursing-shortagehttp://www.nursingsociety.org/Media/Pages/shortage.aspx http://www.sbwire.com/press-releases/department-of-labor-estimates-requirement-for-over-700000-registered-nurses-this-decade-293109.htmhttp://www.theguardian.com/society/2013/aug/31/nirses-want-resign-two-thirds

SUPPLY & DEMAND



Demand for nurses is projected

to increase by 2% every year, as

the supply steadily decreases.

Driver: Demand vs. Retirement

PROJECTED NURSE WORKFORCE

PROJECTED NURSING

SHORTFALL

PROJECTED DEMAND FOR NURSES

2,001,500

2,161,300

2,347,000

2,569,800

2,824,900

1,942,500

1,890,700

110,800

218,800

405,800

683,700

1,016,900

1,941,200

1,886,100

1,808,000

2000

1.5 million

2 million

2.5 million

2005 2010 2015 2020

Source: U.S. Health Resources and Services Administration’s “What is Behind HRSA’s Projected Supply, Demand, and Shortage of Registered Nurses?”

SUPPLY & DEMAND Projected Nurse Supply & Demand



Hospitals across the country continue to experience a shortage of clinical

specialties, including:

Driver: Specialization impacts supply.

• Labor and Delivery

• Operating Room

• Cardiovascular Operating Room

• Pediatric/Newborn Intensive Care Unit

• Cardiovascular Intensive Care Unit

• Emergency Room

SUPPLY & DEMAND

Source: http://www.travelnursing.com/news-and-features/news-detail/Todays-Hottest-Specialties-in-Travel-Nursing/40690



Data shows that on average, there isn’t a correlation between age and the

distribution of RNs in urban and rural environments.

Drivers: Demographics including age and work experience can drive the spread of urban and rural nurses.

SUPPLY & DEMAND


25 or younger

5.39.7 11

Perc

en

tag

e

Age

Areas

12.54.9

910.7

12.6 12.5

14.915.3

11.9

11.2

5.7

1.70.80.81.8

5.9

15.114.412.2

26-30

0

5

10

15

20

25

30

35

31-35 36-40 41-45 46-50 51-55 56-60 61-65 66-70 71 or older

Rural

Urban

Distribution of RNs in Urban and Rural Environments



Registered Nurses Throughout the U.S.


DID YOU KNOW?

Urban areas are more popular among travel

nurses than rural areas.

50k+15-30k<9k



Leading hospitals such as Mayo Clinic and Kaiser are incentivising new grads

and experienced RNs to drive retention.

Incentives include:

• Scholarships

• Workforce grants to nursing programs

• Tuition reimbursement

• On-site degree and training programs

• Increasing CE and certification offerings

• Loan forgiveness programs

Solution

SUPPLY & DEMAND

Source: http://nursezone.com/Nursing-News-Events/more-news/Nursing-Jobs-Outlook-Workforce-Trends-and-Actions_38108.aspx



• Regional markets in the North and Midwest continue to have the

lowest number of nurses.

• Rural supply continues to be a challenge as employment in

metropolitan markets remains more attractive.

• Nurses prefer employment in urban vs rural settings seven to one.

Driver: Shortages are regional.

SUPPLY & DEMAND




CAREER

Solution: Focus on career trajectory.

EARLY CAREER

LATE CAREER

• Banner and Providence Health implemented a RTT (Rural Track Training)

program in rural environments with great success. RTT programs have a 75%

success rate in placing physicians in rural practices, often in the same place

they trained.

• Promoting incentives similar to the loan forgiveness and RTT programs

that are typically offered to residents may increase placement rates in rural

settings for new grad nurses.

• Retirement programs focused on reintroducing retired nurses to the

workforce are another way to augment rural staff who are more likely to be

45 years old and older.

Source: Factors in Recruiting and Retaining Health Professionals for Rural Practice, December 2007http://www.bannerhealth.com/http://www2.providence.org/pages/default.aspx



CAREER

Driver: Money and adventure affect travel nurse assignment selection.

Reasons Nurses Travel

Adventure

Money

Independence

Career development

Prevent burnout

Avoid politics

Relocate

38%

28%

16%

6%

6%3% 3%

Source: http://www.travelnursingcentral.com/news_tips.html

Factors



Employers are increasingly offering a creative range of incentives to attract and

retain RNs, including:

CAREER

• Sign-on bonuses/401K matching

• Job shadowing for new nurses

• Flexible scheduling

• Job sharing, sabbaticals

• Loan forgiveness programs

• Retention bonuses

• Commuter benefits

• Down-payment programs

• Concierge services

Source: http://www.travelnursing.com/news-and-features/news-detail/hospitals-offer-big-incentives-to-recruit-retain-nurses/30978



Look to your staff to help with your current recruiting efforts.

CAREER

• Bayhealth Medical Center in Delaware leverages nurses as recruitment and

retention specialists. Behavior-based hiring techniques are used to ensure

“right fit,” and nurses tend to have a better idea about right fit issues with

peers.

• Social recruiting helps leverage current staff relationships and can help you

hire through employee referrals, as nurses tend to be connected to other

nurses.

• Check out how Coastal Healthcare hired two quality nurses in two weeks

using Identified Recruit.

Find New Solutions

Sources:2013 National Healthcare & RN Retention Report, March 2013www.hhnmag.com/hhnmag/jsp/articledisplay.jsp?dcrpath=HHNMAG/PubsNewsArticle/data/0601HHN_FEA_Gatefold&domain=HHNMAG


https://www.identified.com/resources

http://info.identified.com/LP2013Demo_Request.html


CAREER

• More than 75% of RNs believe that shortages have a significant impact on the

quality of work and patient care.

• Additionally, as RNs’ patient loads increase, so does job dissatisfaction and

emotional exhaustion.

• According to the Journal of the American Medical Association, low retention

rates are associated with avoidable patient deaths.

Driver: Satisfaction is key.

Source: Nursing Economic$, March 2005, Journal of American Medical Association, October 2002



CAREER

Five Factors that Contribute to Higher Nurse Retention

1. Consistent, transparent communication between staff and management

2. Encouragement of professional growth and development

3. Collaborating with other organizations to address nurse workforce needs and

building relationships within the industry

4. Shared responsibility between the business hierarchy (matrix model)

5. Recognition and appreciation for staff

Source: http://www.hhnmag.com/hhnmag/jsp/articledisplay.jsp?dcrpath=HHNMAG/PubsNewsArticle/data/0601HHN_FEA_Gatefold&domain=HHNMAG


The U.S. Nurse Market Report 2014 provides an overview of the

current market to assist recruiters in recruiting, engaging, and

hiring top nursing talent.

Identified Recruit can help you quickly find qualified candidates in

the healthcare industry and beyond. To take a tour of Identified

Recruit, visit www.identified.com.

http://info.identified.com/LP2013Demo_Request.html

Date post:	20-Aug-2015
Category:	Health & Medicine
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The U.S. Nursing Labor Market Report 2014

Health & Medicine