The art of rewarding and retaining staff - part 1

As the nursing shortage escalates, nurse managers will continue to grapple with how to retain their most valuable asset—the talented staff they are charged to lead. Survival in the current market makes both recruitment and retention efforts critical. One primary concern is an aging workforce. The American Nursing Association projects that 65% of current nurses will retire within this decade and predicts that the supply will no longer meet the demand by the year 2010.1 In fact, by 2020, the health care industry will need 1.7 million nurses—yet only 600,000 will be available.1 The key for success is retention of your current staff.