The widening gap between the available talent pipeline and employer needs indicates employers need to carefully rethink their talent strategy.
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Hospitals looking to achieve magnet status need to guide employees through BSN degree programs. But succeeding will take more than educational assistance; it will take a carefully designed strategy that assists with both the financial and physical obstacles of learning and earning.
If employees view their education as a way to advance on the “career ladder,” then organizations should have a strong interest in ensuring the ladder they are choosing to climb leads to where the organization wants them to go. Education assistance helps you do that.
Skills gaps discussions often focus exclusively on the hand-off between retiring Boomers and Millennials. But Gen X has a key role to play, too. It will be Gen X taking the leadership reins from Boomers, becoming the pivotal players who keep organizations afloat. And they’ll need their employer’s help to do it.
Several market forces are bringing education assistance programs to the forefront of recruitment and retention strategies. More jobs require advanced degrees than ever before, and those degrees carry a higher price tag. Organizations that run effective tuition reimbursement and loan repayment programs stand to out-compete their peers by creating a better place to work.
Healthcare in the United States is facing a major shift. Baby-boomers are retiring and hospitals must figure out a way to minimize the effect of the pending workforce shortage while ensuring the highest standards in patient care.
At a lot of organizations, tuition assistance programs are just a benefit. But that sells the program short. A really effective tuition assistance program shouldn’t merely satisfy a few talent goals as a side effect, said EdAssist VP/GM Mark Ward recently. It should have those talent goals built into the program’s design.
Most employers have a good read on the usage and expenses of their tuition reimbursement program. But how much do you know about the other external employee education programs your company is paying for? Maybe not as much as you think.
Colleges and Universities will not be able to keep up with the coming demand for healthcare talent. The stiff competition for nurses will challenge organizations to look within for solutions.