Health system shifts from bonuses to empowerment to attract, retain nurses

  1. found at philadelphia business journal:

    [color=#2c5d8f]nurse vacancy rates dive at main line
    after health system shifts from bonuses to empowerment to attract, retain nurses.

    they also acheived magnet status during this time.....empowerment does work in retaining nurses. karen
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    About NRSKarenRN, BSN, RN Moderator

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  3. by   TinyNurse
    This is wonderful. However do most hospitals give a pay raise after gaining magnet status?
    My hospital pays bottom of the barrel in this community yet they are going for magnet status. The hospital is wonderful and should get magnet as far as i'm concerned. Should I expect a raise?
  4. by   OC_An Khe
    Tiny Nurse,
    The short answer is no. Just because the hospital gains magnet status you don't get a raise. In fact it may make it harder for you to get one. There is certain staffing requirements to getting Magnet staatus. If your employer is getting enough nurses at their current compensation package why would they want to pay more? Compensation is all about supply and demand. If I am getting an adequate supply at a given price I don't need to raise my offer price. The opposite is also true, if I need more nurses (increase in demand) and can't get enough at my current price (compensation) then by increasing the price I will attract more willing nurses to me.
    Retention is about working conditions first and secondly about compensation, providing the compensation offerred is competetive. I am glad to see that some one is finally trying to apply this to their nursing shortage.
  5. by   nursetim
    Haven't you heard? Supply and demand does not apply to nurses. If it did nurses salaries would have jumped markedly in the past few years with the "nursing shortage" this has not occurred to date. That leads me to believe one of two things. 1. There is no nursing shortage. 2. The concept of supply and demand does not apply to the nursing community.
  6. by   OC_An Khe
    Supply and demand has greatly increased nursing salaries throughout the county. It may not be uniform, as some areas are affected more then others, and some types of nursing positions there is less of a shortage.
    I can't comment on your situation but in the area I work the starting salaries for inexpirienced RNs has more than doubled in the past 10 years, thats and average of greater then a 7% increase per year over that entire period.