The healthcare industry is facing a growing talent crisis – one where it is imperative for healthcare organizations and hospitals to hire the next generation of workers. Almost one in five health care workers have left their jobs during the pandemic, and it is estimated that there will be 194,500 jobs per year for registered nurses between 2020 and 2030.
But despite the obvious need to hire a new generation of healthcare workers, this recruitment has become more nuanced than ever. Several new factors are influencing what it will take to attract the next wave of talent, and it’s critical to understand them all—from pandemic burnout and the gigification of healthcare to the expansion of new areas of care. First, let’s look at exactly what’s at stake when it comes to meeting the needs of the next generation—and how your organization can achieve it.
How the aging population will affect both sides of care
According to the Peter G. Peterson Foundation, the share of the US population aged 65 and older not only increased from 14% in 2012 to 17% in 2022, but is expected to continue to rise and reach 21 % by 2032 Average healthcare spending is greater for this demographic than any other age group, leading to an expected increase in the overall need for healthcare support.
This aging population affects not only who will need care, but also who will be able to provide it. Baby Boomer registered nurses made up nearly two-thirds of the RN workforce as of 1990. And despite Gen X and millennials entering the space, Montana State University found that Baby Boomers still made up nearly 40% of RNs in 2015
Understanding the needs of the next generation of healthcare workers will involve paying attention to their wants and needs – largely driven by the disruptions of the past few years and changes in the field itself.
Pandemic burnout is fueling an increased desire for work-life balance
Before the pandemic, the healthcare industry was already struggling with burnout—now it’s become its own epidemic. According to a CDC study, in 2022, 46% of healthcare workers report feeling burned out very often, compared to 32% in 2018. Everyone from doctors and nurses to custodial staff, administrators, technicians and others are working longer hours due to continued shortages – and they are fed up with the imbalance of this way of life.
Recruiting the next generation of workers will depend on providing adequate work-life balance and flexibility that can prevent the physical and mental fatigue that leads to disengagement. It will start by proactively addressing their very real—and very understandable—desire for a more sustainable lifestyle.
The gig economy is driving the demand for greater flexibility
Just as the pandemic created an increased focus on work-life balance, the overall gigification of healthcare has also contributed to clinicians considering their options and seeking creative ways to make a living. Many traditional W-2 workers have branched out into gig work, finding they can earn more — and faster — by working as independent contractors on their own terms.
Travel nurses and other flexible gigs have provided clinicians with new options that pay more than their traditional W-2 roles—while offering scheduling freedom and independence. The rise of telenursing and telemedicine has also expanded, allowing healthcare workers a remote option that seemed off limits to their development in the past.
To attract the next generation of healthcare talent, organizations will need to compete with these gig-centric options by figuring out new ways to provide attractive incentives and flexibility to their workforce. A recent report shows that 92% of healthcare companies plan to offer real-time payments, for example, as a way to meet the new bar for fast and flexible payments set by the gig economy.
The rise of new areas of care
Another trend affecting how healthcare organizations should approach recruiting the next generation is the expansion of alternative forms of care. As people explore different care practices such as acupuncture, massage, and other holistic wellness modalities, hospital systems and healthcare organizations will need to fill these unique roles as well.
It is estimated that nearly 60% of Americans use some form of holistic health care or alternative medicine. As people continue to explore new options for care and interest in holistic methods grows, healthcare organizations will need to meet this growing demand with the right trained professionals who can provide quality, evidence-based care.
Already struggling with worker shortages since the pandemic, the healthcare industry is preparing not only for an aging population in need of care, but also for the retirement of a productive workforce. Healthcare organizations will need to proactively engage the next generation of workers to meet demand. They can start by taking these trends into account and creating an environment that supports a healthy work-life balance, finding opportunities to prioritize flexibility and leaving room to recruit for new and expanding areas of care. Companies that can proactively respond to these demands will be better able to recruit the next generation of healthcare professionals and provide a better level of patient care.
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