Mercer's report projects a healthcare workforce of 18.6 million by 2028, but a significant shortage of over 100,000 workers will persist, despite some areas experiencing surpluses. Click here for article.
Surplus and Deficit Variations: While the overall supply of physicians and registered nurses is expected to increase, with registered nurses having a projected surplus of about 30,000, shortages will persist in specific states like California, Texas, and New York. Conversely, states like Pennsylvania, Indiana, and Minnesota will experience surpluses of physicians.
Geographic Disparities: Regional shortages will be notable, with registered nurses being most scarce in New York, Tennessee, and Massachusetts. This highlights significant disparities in workforce availability depending on location.
Impact of Burnout: The healthcare sector experienced a severe burnout crisis during the COVID-19 pandemic, leading to a loss of 100,000 workers between 2020 and 2022. Employers are advised to address burnout proactively to avoid high attrition rates and manage employee well-being through improved pay, benefits, and job satisfaction.
Compensation and Recruitment Strategies: To combat talent shortages, healthcare employers might need to adjust compensation strategies and broaden recruitment efforts. This includes targeting regions with labor surpluses and adapting to compensation pressures as worker demands for higher wages and better benefits continue to rise.
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