Nearly Two-thirds of Baby Boomer Nurses Now Considering Retirement, Even as RN Demand Rises Rapidly
Large-scale Loss of Experienced Nurses Foretold in Survey by AMN Healthcare
SAN DIEGO, Nov. 9, 2015 /PRNewswire/ -- A surge in retirements among Baby Boomer nurses is about to hit the healthcare industry, with nearly two-thirds of registered nurses over age 54 now considering retirement, according to a survey by AMN Healthcare and its Center for the Advancement of Healthcare Professionals.
The survey also found that of nurses over 54 who are considering retirement, 62% are planning to retire within the next three years.
Older nurses comprise a critically important segment of the nursing workforce. More than half of RNs are over 50, according to a 2013 study by the National Forum of State Nursing Workforce Centers, and their institutional knowledge and mentoring expertise are invaluable to quality healthcare. As seen by AMN Healthcare, the nation's largest supplier of nursing, healthcare staffing and workforce solutions, demand for nurses is rising rapidly.
"This data confirms what we've known anecdotally and allows us to finally put dimensions and a timeline around a predicted retirement surge," said Marcia Faller, RN, PhD, Chief Clinical Officer at AMN Healthcare. "But the harm to the healthcare industry goes beyond the numbers. The loss of this intellectual asset may be acutely felt in terms of quality of care and patient satisfaction. To withstand this loss, healthcare administrators need help in preparing for the nursing workforce of the future."
The survey found that nursing education roles will be hit hard by the retirement surge, which could impact the ability to educate incoming nurses who will replace those who retire.
Mixed Feelings About Nursing
The 2015 Survey of Registered Nurses is a biennial assessment by AMN Healthcare (NYSE: AHS) of almost 9,000 registered nurses in a variety of fields and specialties.
While a large majority of nurses (85%) say they are satisfied with their overall career choice of nursing, their optimism wanes when questioned about the day-to-day aspects of their work, and many say they don't have the time they need to spend with patients.
In addition, the survey found that while the majority of RNs are happy with their career choice, many are dissatisfied with their jobs and concerned about the future of the care environment.
Strong Interest in Education
The survey also shows very strong interest in further education, which is a recommendation among healthcare experts to instill necessary improvements in the nursing profession. This ardor for more training and education is especially strong among younger nurses. Survey results showed that among all nurses, more are planning to seek a higher degree in nursing than those who are not.
"All of us in healthcare should take very seriously the impact of the impending retirement of so many experienced nurses," said Susan Salka, President and Chief Executive Officer of AMN Healthcare. "At the same time, we should honor the fact that so many nurses are interested in furthering their education and training. To ensure appropriate levels of care, it is important that healthcare administrators begin now to optimize their current workforce and seek partners and solutions that can help in finding the quality clinicians that they need."
Further survey results will be presented at AMN Healthcare's 2015 Healthcare Workforce Summit in Nashville, TN, on Nov. 13.
Visit www.AMNHealthcare.com/2015RNSurvey to view the 2015 Survey summary and infographic, watch our 2015 Survey video, and pre-order a copy of the full survey, which will be available on Nov. 13, 2015.
About AMN Healthcare
AMN Healthcare is the leader and innovator in healthcare workforce solutions and staffing services to healthcare facilities across the nation. AMN Healthcare's workforce solutions - including managed services programs, vendor management systems, recruitment process outsourcing and consulting services - enable providers to successfully reduce complexity, increase efficiency and improve patient outcomes within the rapidly evolving healthcare environment. The Company provides unparalleled access to the most comprehensive network of quality healthcare professionals through its innovative recruitment strategies and breadth of career opportunities. Clients include acute-care hospitals, community health centers and clinics, physician practice groups, retail and urgent care centers, home health facilities, and many other healthcare settings. AMN Healthcare disseminates news and information about the Company through its website, which can be found at www.amnhealthcare.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company based these forward-looking statements on its current expectations, estimates and projections about future events and the industry in which it operates using information currently available to it. Factors that could cause actual results to differ from those implied by the forward-looking statements contained in this press release are set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2014 and its other periodic reports as well as the Company's current and other reports filed from time to time with the Securities and Exchange Commission. Be advised that developments subsequent to this press release are likely to cause these statements to become outdated with the passage of time.
SOURCE AMN Healthcare