What Millennial Nurses Want: Their Must-Have RN Benefits
By Sarah Stasik, contributor
Pew Research defines millennials as those born between 1981 and 1996. As of 2019, then, that means anyone around age 23 to 38. According to the NCSBN's National Nursing Workforce Study, that age range accounts for a bit less than 30% of all nurses. But with 50% of RNs as of 2017 made up of those over the age of 50, nurse demographics will clearly shift in the future, with more and more jobs going to millennials as older professionals retire. Those shifting demographics are carving changes in the industry — including what types of benefits are common for RNs.
What millennial nurses want when it comes to benefits
AMN Healthcare conducted a Survey of Registered Nurses of all ages in 2017 and used the data from that effort to understand how millennial nurses differ from nurses in older generations. Check out some of the highlights below to find out if what you want as a millennial nurse is similar to what other RNs your age are looking for. This data also helps you if you're a nurse supervisor or manager because you can act on it to help make your team or organization more attractive to younger professionals.
Basic benefits are still important
Many articles about millennials and benefits tend to put experience-based opportunities on a pedestal, often ignoring traditional benefits such as salary, health insurance, life insurance and 401(k) plans. But no one should get the idea that millennials are jumping at the chance to eschew these things in favor of the experience.
Facilities must understand that younger professionals with experience and skills are still interested in being properly compensated. And if you're a millennial nurse, know that you don't have to give up the stability that comes with a strong salary and benefits to be able to enjoy your work.
Millennials want opportunity for growth
But as the younger waves of nurses become a larger percentage of the work force, great traditional benefits won't be enough to draw the best RNs. A large number of millennial nurses are looking for stepping stones to advanced careers.
Almost half of millennial nurses currently have plans to become an advanced practice nurse in the future. That's compared with only 35% of gen Xers and 12% of baby boomers. Not surprisingly, 71% of millennial RNs are considering seeking a higher degree.
What does that mean for RN benefits? Younger nurses are looking for positions that:
- Offer flexibility so they can attend to educational goals
- Provide on-the-job training and mentorship to support career growth
- Include reimbursement for or coverage of educational opportunities ranging from seminars to advanced degree classes
Supportive leadership is critical
A third of millennial nurses are working toward leadership roles in their careers, and it's not surprising. Millennials tend to put a high value on leadership. More than 50% of RNs in this age range say it's important to be able to trust clinical leaders, and more than 60% say good leadership is important for career development.
These findings demonstrate that benefits aren't all tangible. For millennials, solid leadership and being able to trust in the professionals around them is critical to long-term happiness and success on the job.
Takeaways for job seekers in this demographic include taking the time during interviews to feel out hiring organizations and nurse leadership. Sometimes, finding the right fit for you may be more important than who pays the most.
For nurse managers, the takeaways are even clearer. Engaging with younger nurses, offering mentorship and coaching and helping them be the best RNs they can make it more likely you'll keep the best talent when you find it.
Change is a good thing
Millennials are more likely to make a job change than older RNs are. In fact, younger nurses often see change as a positive thing, opting to move to a new facility or even a new town if it means forward motion in their career.
According to the AMN survey of RNs, nurses age 55 to 64 stay with an employer on average 10 years. Millennial nurses stay with employers on average 2.8 years. Historically, this job-hopping would be viewed by hiring organizations as a negative. But in a medical industry plagued by shortages, younger nurses who are willing to move regularly are a boon.
And they can put that drive for change and experience to work as a travel nurse. Travel RN jobs come with many of the benefits millennials say they want, from learning and growth opportunities to change and adventure.
LEARN MORE about the benefits of travel nursing and career growth no matter your age or where you are in your career.