As baby boomers age and eventually leave the nursing workforce, we can expect to experience a significant shortage of nurses. Researchers project that one million registered nurses will retire by 2030 (Buerhaus et al, 2017). Think about the years of experience and knowledge that will no longer be available to us, our colleagues, and our patients.

Staggering numbers

Currently, there are four million practicing nurses in the US and 29 million nurses globally, and we are already short 7.2 million nurses. By 2035, that number is expected to increase to a shortage of 12.9 million nurses (Global Health Workforce Alliance and World Health Organization, 2013).

Today, the average nurse turnover rate is 17.2%, with over 20% leaving their positions within the first year. To replace a bedside nurse, it costs an average of $52,100 (range $40,300 to $64,000 per nurse) (NSI Nursing Solutions, Inc., 2019). View the infographic below to learn about contributing factors and strategies to address the current and projected shortage.

Want to learn more? Watch this video.

References:
Buerhaus, P., Skinner, L., Auerbach, D., & Staiger, D. (2017). Four Challenges Facing the Nursing Workforce in the United States. Journal of Nursing Regulation, 8(2). doi: https://doi.org/10.1016/S2155-8256(17)30097-2

Global Health Workforce Alliance and World Health Organization (2013). A Universal Truth: No Health Without a Workforce. Retrieved from https://www.who.int/workforcealliance/knowledge/resources/hrhreport2013/en/.

NSI Nursing Solutions, Inc. (2019). 2019 National Health Care Retention & RN Staffing Report. Retrieved from http://www.nsinursingsolutions.com/Files/assets/library/retention-institute/2019%20National%20Health%20Care%20Retention%20Report.pdf.