|
 For more salary survey statistics, go to page 2 to view charts and tables
The lagging economy has weighed heavily on nurses' minds over the past year, as reflected in ADVANCE's most recent salary survey. Financial security is among the top concerns, with many who left the workforce returning to the field and others delaying retirement. A significant portion of survey respondents have said the recession has changed their economic outlook over the past 12 months. In many areas, jobs for new graduate nurses are scarce as hospitals fill open positions with more experienced RNs.
According to Jennifer Nooney, PhD, associate director of the Florida Center for Nursing (FCN), the recession has created a temporary lull because more nurses have returned to the workforce or picked up more hours. Employers also have cut vacant positions and turnover has decreased, she said.
Income Changes
About half of all ADVANCE respondents reported salary changes in the past 12 months, with 78 percent receiving increases, mostly through merit-based and cost-of-living raises.
Twenty-two percent are earning less than they did a year ago, a figure that's up nearly three-fold from the 2009 survey, when 7.7 percent of nurses reported a drop in income. Of that group, 46 percent reported losing more than 10 percent of their income while another 38 percent saw a 5-10 percent reduction.
Salary decreases were largely attributed to changes in wages (actual salary reduction or nurses no longer receiving pay differentials). One in four of those who saw a smaller income are working fewer hours. Nearly one in five reported a demotion or change in job duties and title.
Increasing Applications
Vicki Wadman, RN, SPHR, recruitment director at Memorial Healthcare System in Hollywood said her organization has received an "overwhelming increase" in applications through its online career center.
"Normally we don't see healthcare professionals migrating to South Florida from states like Montana, Oregon and Nebraska," Wadman said.
Munroe Regional Medical Center in Ocala has seen a similar trend, especially in terms of experienced nurses with degrees who are applying for entry-level jobs, said Lorraine Davis, nurse recruiter.
Returning to Work
One in 10 respondents said they returned to the workforce within the past year - and 39 percent of that group needed the additional income.
More than half of nurses said the job market has changed their "family financial picture" in the past year. About two-thirds of that group reported they or their spouses were no longer employed, working fewer hours or taking a salary cut.
At Memorial, for example, many nurses working part time or in relief positions have applied for full-time employment with benefits, Wadman said. Retired nurses have reentered the job market, she said, while others are delaying retirement to "help pay the bills."
"We're seeing nurses wanting to return to the field for various reasons, like a spouse who is out of work or a decrease in other income," said Holly Castner, BSN, RN, staff development and recruitment manager of the Central Florida Health Alliance, Leesburg. "We're also seeing staff delay retirement."
'Hard on New Grads'
With so many experienced nurses returning to the bedside full time or increasing their hours, new grads aren't finding jobs easily.
"We've spent an enormous amount of time talking to - even consoling - many new grads in our community who have been looking for a job for more than a year," Wadman said.
Last August, one South Florida facility had more than 200 applicants for 25 new-grad slots. Many of the new graduates were from prestigious, out-of-state universities who had trouble finding positions up north.
Officials at another Broward County not-for-profit system said graduates from its scholarship program secured positions, but recruiters were unable to place other graduate nurses, except for a handful who were either internal employees or children of current staff members. From the beginning of May through early August 2009, the healthcare system received 359 new-grad applications and could offer none of them employment.
"[Nationwide], we've heard a lot of new graduates are running into situations where the hospitals want at least 6 months of experience," said Jodi Matts, nurse recruiter at Shands HealthCare in Gainesville.
Some individual facilities have been able to place graduate nurses - either through the opening of a new hospital or an established scholarship program.
For example, Shands has largely escaped the trend, Matts said. When officials opened a new cancer facility last year, nearly 200 new graduates were hired while only five were lost due to "personal commitments," according to Matts.
From a scholarship program that provides assistance to students in nursing programs across Florida, Memorial Healthcare has placed many new graduates within the past year. Still, there are more new grads seeking employment than available positions. Wadman said she is confident the job market will open up for new grads once the economy begins to rebound.
'Temporary Lull'
Healthcare providers should not be lulled into a false sense of security of an endless supply of nurses, recruiters tell ADVANCE. Instead, they suggest now is an excellent time to rethink strategies on how to plan for the future, taking into account the aging workforce and potential surges in healthcare demand.
Long-term predictions for an increasing shortage still stand, said FCN's Nooney. An aging population will require additional acute healthcare services within the next decade. At the same time, a significant number of nurses nearing retirement age will begin to withdraw from the workforce.
Once the recession eases, older nurses will likely retire, and those who've returned to the workforce might "decide to leave as well," Nooney added. "In spite of a little reprieve by the recession, we need to keep our eyes on the long-term problem, continue to increase educational capacities and strategically retain the nurses we have."
Davis agrees. "We need to encourage our new graduates and nursing students," she said.
Hope on the Horizon
"[Statewide], things aren't as bad as we anticipated," Nooney said, citing a recent FCN report. "There is a strong demand for nurses - especially in hospice, home health, long-term care, skilled nursing and elder care. The demand in all settings is projected to increase over the next couple of years. Just how fast we're going to recover from the current economic slump is the big question mark for everyone."
Karin Lillis is senior regional editor at ADVANCE.
For more salary survey statistics, go to page 2 to view charts and tables.
|