In today's rapidly aging workforce, healthcare leaders and policymakers must recognize the importance of retaining experienced employees. The retirement of baby boomers in large numbers has led to a significant shortage of skilled healthcare workers, making it crucial for healthcare administrators to invest in programs that promote employee well-being and occupational safety, particularly for seasoned employees who contribute significant organizational value.
It is worth noting that about 1 in 4 healthcare employees are over 55 years old, with those aged 50-64 taking an average of 3.3 different prescription drugs daily. This number increases to 4.4 for those aged 65 and older. Many of these drugs are used to administer various chronic conditions, including diabetes, hypertension, coronary artery disease, and COPD, resulting in additional healthcare complications for this age group.
Older employees are more likely to experience frequent illnesses and may need more time off from work, highlighting the need for a more flexible work schedule. Absenteeism represents a high cost to organizations, estimated to be around $2 billion for every chronic disease. Even if an employee does come to work, they may experience reduced productivity due to their symptoms.
Nurses, in particular, serve as an example of a vulnerable employee population. The retirement of experienced nurses creates a generational and institutional knowledge gap, which is a significant concern for many healthcare leaders. Losing seasoned nurses not only affects productivity but also results in a loss of valuable guidance that they can provide to the organization. This situation can leave new nursing graduates without adequate mentorship, which may negatively impact overall patient care and increase hospital costs.
Besides nurses, other healthcare occupations similarly deal with the brunt of an ever-aging workforce. Older physicians, social workers, pharmacists, and allied healthcare staff have experienced burnout, leading to early retirement. There should be a renewed focus on employee wellness programs (EWP), specifically targeting older employees. Access to EWP is positively correlated with the utilization of preventive health services. Johnson and Johnson demonstrated that after 4 years of tracking its employee participants, there was a $224.66 decrease in medical care cost per employee per year. Diving deeper, for every dollar invested into employee wellness, medical costs decrease by $3.27, and absenteeism costs fall by $2.73.
Other recommendations may include the following:
- Disability-Friendly Workplace: Creating an accessible environment fosters a welcoming work environment. Research from Accenture demonstrated that organizations that support staff with disabilities outperformed competitors. Whether offering screen readers or assistive listening devices, demonstrating an inclusive atmosphere will encourage older workers to stay in the organization.
- Flexible Work Schedule: Giving autonomy to workers in how they construct their work means employees can better meet their personal life obligations. This can include offering part-time or reduced-hour schedules, job sharing, or telecommuting options. By doing this, healthcare administrators can retain older workers by empowering them to focus on work and personal matters.
- Menopause Policies at Work: The majority of healthcare systems do not have clear policies relating to menopause. About 87% of all nurses in America are female and will approach menopause around 45 to 55 years. Statistically, 10% of women are expected to leave the job, cut back on hours, or decline promotions due to menopausal symptoms. Guy's and St Thomas's NHS Hospital Trust in London created a virtual clinic for its healthcare workers to receive services for menopausal symptoms. It demonstrated positive results, in which 100% of the participants supported the innovative program. They gave the clinic an 8.6 out of 10 rating on usefulness.
- On-Site Exercise Programs: The healthcare systems may develop a curriculum tailored explicitly to elderly employees that include a re-iteration of injury prevention and safe lifting techniques in moving patients. This training could reduce the risk of ergonomic injuries like herniated discs that could cost the employee and the organization through absenteeism and short-term disability costs. Strengthening exercises can further protect this.
- Teaching Bonuses for Mentorship: Finally, we can leverage the experience of elderly staff members to provide teaching and mentoring activities to the new hires. It is well-documented that mentorship improves job performance and increases organizational commitment.
Overall, the US healthcare system is facing a staffing issue, specifically after COVID-19. Healthcare leaders should have a sense of urgency to implement age-friendly policies at their workplaces. The time to act is now.
Authors:
George Hseeh, BA is an MD/MBA Dual Degree student at Rutgers Robert Wood Johnson Medical School and Rutgers Business School.
Soumitra S. Bhuyan, PhD, MPH is a Visiting Research Fellow at the School of Public and International Affairs, Princeton University and an Associate Professor at Edward J. Bloustein School of Planning and Public Policy, Rutgers University
Anupam Lahiri, FACHE, MBA, OTR, Healthcare Operations Executive