Clocking Out (Already??)

July 31, 2023

The Great Resignation is Over, Right?

Not so fast… two weeks ago, we explained that healthcare professionals are more burned out than ever, as 1 in 4 medical professionals considers leaving medicine with nearly 90% of them citing burnout as the leading cause.

While *most* employers see waning impacts of turnover, including tempered financial hardship and recovering levels of engagement, morale and productivity, healthcare remains an outlier.

“Workforce, Workforce, Workforce”

That’s the #1 Priority for Health Systems across the nation over the next year. We’re hearing this in conversations with leaders at America's top hospitals and you can read about the same trend in the Harvard Business Review. HR leaders are going to dire straits to improve retention as their hospital systems struggle to keep up with rising demand amid mounting staff shortages. While competitive pay, referral bonuses and other incentives support hiring, they hardly move the needle on retention.

Why are they Leaving?

Per Grant Thornton's State of Work in America, the top 5 reasons health professionals leave their jobs is because they don't feel valued at work, suffer lower wages relative to inflation, have a lack of support for personal well-being, receive scant benefits and work long hours.

We're Not Just Another Benefit

Plannery improves employee retention by supporting healthcare professionals to get and stay out of debt.

Our voluntary benefit offers better rates on loans, an exclusive credit card and personalized financial management.

We've already improved retention of healthcare professionals at institutions like Advent Health, CVS Health, and HCA Healthcare, and we're rolling out Plannery at major hospital systems this benefits cycle!

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Savings estimate based on analysis of closed Plannery loans originated via the Nursegrid app. We compared the APR, term, and payment of customers’ existing debt (from credit bureau and lender data) to their new Plannery loan. ‘Over $8,000 in interest savings’ and ‘80 months shorter’ reflect average reductions across funded customers. When applicable, comparisons to personal loan alternatives use industry APRs by credit tier from Q1 2025 LendingTree data. Individual results may vary.

Based on Q1 2025 LendingTree data for personal loans by credit band. Comparison reflects Plannery’s lowest offered APR by credit tiers versus average APRs on LendingTree’s platform for similar tiers. Actual rates vary by applicant profile and are not guaranteed.

PLANNERY PERSONAL LOAN DISCLOSURES:
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For employees at a partner employer:
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Plannery is an optional program, not a recommendation from your employer. Your employer gets no financial benefit from employees applying for or being approved for Plannery.

For all prospective users of Plannery's lending product:

Not all applicants will qualify. Loans are subject to approval and verification of credit and employment information. Rates and terms are subject to change without notice. Loan amounts range from $1,000 to $20,000, with repayment terms from 12 to 60 months. Annual Percentage Rates (APRs) range from 12% to 31%, based on creditworthiness and other factors. State minimum lending laws may apply. Loan minimums vary by state.

Plannery is not a bank. Plannery is a financial technology company. Loans subject to approval and standard underwriting criteria. Applications are for loans offered, made by, decisioned and owned by FinWise Bank, a Utah chartered bank. Terms and conditions are subject to change without prior disclosure or notice.