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In the ED Management 2001 Salary Survey, respondents ranked the following benefits as important or extremely important:
Some hospitals are increasing 401K matching funds to as much as 9% or up to $5,000, says Diana Contino, RN, MBA, CEN, CCRN, president of Emergency Management Systems, a Monarch Beach, CA-based consulting firm that specializes in staffing issues. "Others are increasing vacation time or combining vacation and sick time into a paid time off’ bank," she adds.
Education reimbursement has increased between $1,000 to $2,500 on average, with some facilities offering much more for BSN or MSN degrees for full-time staff and prorated for part-time staff, she notes. Advertisements for positions increasingly emphasize enhanced benefits, says Contino. "One facility is even offering a $50,000 bonus for ED nurses, a few thousand in the first year and the balance at the end of four years," she reports. "They are able to do this because the traveling agency’s overhead is about $15 to $20 per hour because of housing costs," Contino explains.
This equates to between $31,200 and $41,600 per FTE, says Contino. "The chief nursing officers, chief financial officers, and chief executive officers understand these figures and are using a portion of this money to attract staff instead of paying agencies," she explains.