美世TotalCompensationACallforActionforRetainingNurses.pptVIP

Total Compensation: A Call for Action for Retaining NursesMaryland Statewide Commission on the Crisis in Nursing May 2003 Contents Executive Summary Background Rationale For This Paper Closer Examination Retention Subcommittee Recommendations Executive Summary Executive SummaryNursing Shortages are not New. . . . . .however, the shortage Maryland and the Nation are currently experiencing is projected to be more acute and longer lasting. . . A combination of factors contribute to the unprecedented size and duration of the problem: Aging baby boomers Nurses themselves nearing retirement Alternative career choices for women The nurse compensation paper is essential at this time because: Compensation is critical to attract and retain competent professionals The elements of compensation can be puzzling and consequently, undervalued Compensation discussions are too often secretive or shrouded in mystery Employers aren’t maximizing the retention potential of the compensation dollars being spent Executive SummaryNursing Shortages are not New. . . . . .and compensation has become a higher priority because “satisfiers” associated with their nursing profession have been woefully deficient. At the same time the Commission’s other subcommittees are addressing these “satisfiers”, the Retention Subcommittee saw the need to focus on compensation The paper’s objective is to educate all healthcare stakeholders as to how nurse pay can and should be used to maximize nurse commitment and employer returns Compensation can be a powerful short-term retention tool if: Delivered equitably, for the right reasons, and with the right messages and guidance Compensation must be flexible and designed with a holistic approach to meet the varying needs of the diverse professional workforce Background BackgroundThe Perfect Storm Several converging factors are fueling the nursing supply shortage that could grow from 6% in 2000 to 12% by 2010 and to 29% by 2020. . . An increasing and aging