HJBR Nov/Dec 2021

HEALTHCARE JOURNAL OF BATON ROUGE I  NOV / DEC 2021 55 Karen C. Lyon, PhD, MBA, APRN-CNS, NEA Chief Executive Officer Louisiana State Board of Nursing Trends and factors in 2021 support high- er nursing salaries. Nursing shortages are expected to persist into 2025. Labor com- prises about 50% of a hospital’s operating expenses, so this is the line item where hospitals immediately look to reduce costs. Other factors that cut into the orga- nization’s financial margins include rising pharmaceutical prices and technology costs. The aging population and waning reimbursements, especially from Medic- aid and Medicare, also decrease hospital margins, as do the rising costs of chronic disease management. Often, the solution to these escalating costs approaches the problem from the supply side — that is, educating new nurses. However, it would take three to four years for the supply of nurses from current nurs- ing education programs to meet demand, assuming you could even find the nursing faculty the clinical practice sites to allow for increasing the size of nursing school cohorts. Increasing salaries to match nurses’ val- ue to their pay improves morale, decreases turnover and improves nurses’ face-to-pa- tient time. Increased interactions of nurses with patients leads to fewer patient falls and medication and procedural errors. De- creasing these kinds of mistakes decreases the incidence of lawsuits, which impact not only a hospital’s financial resourc- es but also their reputational value in the community. Beyond increasing salaries, there are quality-of-life issues that are just as im- portant as pay for many nurses. These is- sues include positive work environments, work/life balance, tuition reimbursement, professional opportunities and childcare options. While asking for a raise can be intimi- dating, few employers hold a grudge over nurses who negotiate for more pay. I have never experienced being demoted or fired for asking for more money. According to salary surveys, up to 87% of employers expect applicants to negotiate salaries during interviews. Recommendations for these negotiations include knowing your value, thinking beyond base salary, coming prepared and asking for offers in writing. Other recommendations for negotiating a raise include: • Recording your performance and making a list of your accomplish- ments: avoid why you “deserve” a raise and focus on your outcomes that have benefited your organization. • Setting a target: know what your ceil- ing and floor numbers are. • Practicing your presentation: role- play with a friend so that you won’t feel so apprehensive when you meet with your boss. • Preparing your boss: you might be surprised to know that salary negoti- ations are as uncomfortable for your boss as they are for you. Remember that your boss must consider many factors. Even if the answer is “no,” don’t give up. Discuss with your boss what accomplish- ments will get you reconsidered for a sala- ry increase, and make an appointment for reconsideration in three to six months. Re- main positive, and continue to document your contributions to positive change and cost savings. Consider gaining more qual- ifications, either education or certification. Continue to deepen and broaden your re- lationship with the organization. “Define your priorities, know your val- ues and believe in your purpose. Only then can you effectively share yourself with others.” — Les Brown n REFERENCES Kacik, A. “Nursing shortage will continue to pinch hospital margins.” Modern Healthcare. May 7, 2018. https://www.modernhealthcare.com/ article/20180307/NEWS/180309921/nursing- shortage-will-continue-to-pinch-hospital- margins. “Increasing salaries to match nurses’ value to their pay improves morale, decreases turnover and improves nurses’ face-to- patient time.”