To bring more nurses into the workforce, non-profit healthcare services company Banner Health plans to pay the full cost of tuition for their registered nurses to receive a Bachelor of Science in Nursing degree. The company is partnering with InStride, a company that designs workforce education programs, to launch the Banner Education Achievement program.
“The last two years have challenged healthcare in ways few industries have ever been challenged,” says Sean Flynn, chief customer officer at InStride. “This education initiative will help Banner’s nursing staff develop new skills and grow in their careers, as well as assist Banner in recruiting and retaining nurses in essential positions.”
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While one can become a fully registered nurse with an Associate Degree in Nursing, the American Association of Colleges of Nursing found that if more nurses have BSN degrees — as little as 10% more on staff — they could decrease the risk of patient death and failure to rescue by 5%. Banner Health estimates that getting more nurses with advanced degrees into hospitals could improve overall patient outcomes at the 30 hospitals it serves.
Jami Allred, vice president of talent acquisition and diversity at Banner Health, notes that Banner already had a tuition assistance program, but this meant nurses still had to pay out of pocket to make progress in their education.
“Typically with tuition assistance, an individual is funding their schooling on the front end, then seeking reimbursement after the fact,” says Allred. “This new approach allows us to invest in our people on the front end and limit anyone with financial roadblocks.”
Banner Education Achievement Program is set up so Banner is directly billed, rather than the nurses. The courses can be attended online through Arizona State University’s Edson College of Nursing and Health Innovation.
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“It’s essential to the entire U.S. healthcare system to attract, develop and retain a skilled and diverse workforce that is ready to tackle current and future healthcare issues,” says Flynn. “Investing in education is a powerful way to bring your talent strategy and your business strategy together.”
This strategy is even more necessary
While healthcare work has always been exceptionally grueling, 80% of medical professionals say they have been impacted by the labor shortage and are working longer hours and carrying greater workloads, since hospitals are at capacity, according to data intelligence company Morning Consult. Allred says that no healthcare services company can afford to lose any more talent, which means employers have to invest in who is there now.
“We knew there would be a nursing shortage — this program gives us the ability to continue people’s education and create more nurses,” she says. “We are not only benefiting the team at Banner but the entire market across the U.S. because we are creating a bigger candidate pool for years to come.”
Ultimately, Banner’s education program is a
Banner’s program has already attracted over 400 applicants, and anyone who doesn’t make the cut the first round will be pulled into a future class. Allred also emphasizes the importance of communication when it comes to rolling out a benefit like this one: leaders need to consistently remind nurses this option is open to them and free of cost, through newsletters, meetings or even plain word of mouth, she explains.
“It’s about creating pathways for your team to understand how they can continue their career,” Allred says. “We want to be at the forefront when it comes to being an employer of the future. We want to evolve and change so we can support our employees the best way possible.”
