PR Newswire
CHICAGO, Dec. 11, 2024
CHICAGO, Dec. 11, 2024 /PRNewswire/ -- Aon plc (NYSE: AON) reports that more U.S. hospitals are reporting steady or lower employee turnover after bolstering pay and benefits to help attract and retain talent, according to the firm's 19th annual Benefits Survey of Hospitals.
Seven percent of hospitals reported increased turnover among nurses (compared to 62 percent in 2023) and five percent experienced higher departures among non-physician clinical positions (compared to 41 percent in 2023) and nine percent said that physicians are leaving more often (compared to 22 percent in 2023) than the prior 12 months.
Hospitals reported that turnover happens most often among medical professionals with tenures of one to three years. Eighty-four percent of hospitals still report shortages in nurse staff and almost half report shortages in clinical technicians.
"To continue addressing nurse and technician recruitment and retention, health systems must remain focused on investment in total rewards and support for workforce resiliency and mental health," said Sheena Singh, senior vice president of Aon's national healthcare industry practice.
To address talent recruitment and retention, 70 percent of hospitals during the past year have increased new hire pay, 69 percent have implemented or bolstered sign-on bonuses, 61 percent have increased their minimum wage scales, 46 percent offered higher-than-market wages to employees and 44 percent have modified their total rewards offering for all employees.
Hospitals in 2024 modified or enhanced benefits to further support employees' needs, with:
- 70% enhancing voluntary benefits and an additional 13% considering it.
- 67% enhancing tuition reimbursement and 12% considering it.
- 65% offering more financial wellness and planning resources and 14% considering it.
- 40% adding Rx home delivery and 8% considering it.
- 36% offering more student loan repayment or restructuring programs and 31% considering it.
- 35% adding or enhancing gender affirming care and 15% considering it.
- 32% enhancing employee assistance programs and mental health provider networks and 28% considering it.
- 32% adding nutritional counseling and 9% considering it.
- 31% offering more subsidies for adoption and 16% considering it.
- 28% adding subsidies for backup childcare and 18% considering it.
- 26% expanding fertility coverage and 27% considering it.
- 24% adding subsidies for backup eldercare and 16% considering it.
- 24% adding onsite daycare and 14% considering it.
The report also shows average health plan expenses per hospital beneficiary per year increased 8.5 percent, from $16,151 in 2023 to $17,520 in 2024. Sixty-five percent of hospitals aim to pay 80 percent or more of their employees' health care costs and 13 percent offer a no-cost health plan option to some segment of their employee population. Eighty-eight percent of health systems also provide a discount to employees to access their own facilities and providers.
Despite increases in total rewards, health systems remain concerned about their workforce going into 2025. Top concerns from human resources leaders include:
- Access to mental health services/providers (90%)
- Increasing healthcare costs for health system (85%)
- Competitive total rewards to attract and retain talent (85%)
- Improving health outcomes (84%)
- Increasing healthcare costs for employees (83%)
- Preventing and managing chronic health conditions (81%)
- Managing fiduciary obligations and risks as a plan sponsor (80%)
- Burnout/workforce resiliency (80%)
- Employees understanding the value of their benefits (80%)
Aon's 19th annual Benefits Survey of Hospitals surveyed hospital employers between April and June 2024. The survey compiles results of participating benefit plans for more than 3.3 million health system employees representing more than 1,500 hospitals across the U.S.
About Aon
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses.
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SOURCE Aon plc
