It’s a Great Time to GO
If you’ve been thinking of beginning a career as a travel nurse, or are wondering if you should keep traveling, we can help you decide. While the demand for travel nurses certainly saw a surge during the COVID 19 pandemic, recent research suggests there’s no sign things are slowing down. Of course, we hope another pandemic is not part of the equation, however, there are some important factors driving expected hiring trends.
7 Trends Driving Traveler Demand
- First, we can look at the overall market projections. The U.S. healthcare staffing market is estimated to expand at a compound annual growth rate (CAGR) of 6.69% from 2023 to 2030. This growth will put a natural strain on existing resources. Some of the factors responsible for the market growth are increasing demand for temporary staffing for healthcare professionals due to the rising geriatric population and the lack of skilled nursing staff across the country. (Grand View research)
- Next, according to the Bureau of Labor Statistics (BLS), around 500,000 nurses are expected to retire over the next few years. This is creating a significant labor gap for our country. A portion can be attributed to the unexpected early retirement decision from so many nurses who worked during the height of the pandemic. Many citing difficulties bouncing back from the severe stress and emotional strain.
- Technology also continues to advance. With these advancements, travel nurses have more advantages to navigate new assignments, adapt to new systems, and enhance patient care. What’s more, they have more options to research and choose assignments, as well as communicate with recruiters and maximize their agency relationships. Traveling has become a more feasible option.
- Regulatory changes and licensing requirements continue to evolve this year. More states are joining the Nurse Licensure Compact (NLC). As this number increases, so will the ability for travel nurses to work across state lines more efficiently.
- With nearly 800,000 new nurses expected to enter the field by 2030 according to Health Provider’s Choice (HPC), the need for travelers will also increase. Here’s why. Travel nurses (temporary staffing) are an ideal option for facilities scheduling around leave of absences. You can expect some percentage of the full-time staff to go on maternity leave, suffer an injury, and leave on a scheduled a vacation.
- The Bureau of Labor Statistics predicts a six percent increase in registered nurse jobs by 2031, with an average of 203,200 job openings each year as current RNs leave the profession. Some states are expecting a significant deficit. California for example, is projected to fall nearly 50,000 nurses short of their predicted 2030 demand.
- More competitive pay is an attractive benefit to traveling. Reports indicate that a travel nurse has the potential to earn 15%-20% more than a staff nurse. More flexibility, more time off, more money, and the chance to travel make this an attractive option for many RNs. Facilities get an efficient way to remain fully staffed during fluctuating occupancy and travelers can manage a healthier life-work balance.
Want a few more reasons to go?
Get in touch with our professional recruiters today. We can walk you through the entire process, discuss assignment options, and explore your personal needs to find a perfect match. Call 844.916.8773 and get started now.
I enjoy placing nurses in exciting travel contracts across the country. For some nurses, this traveling opportunity has been a lifelong dream. Helping them fulfill that warms my heart!