Rx for Retention

July 17, 2023

Healthcare professionals aren't immune to burnout

The Covid-19 pandemic catalyzed the trend toward workers' power – it also caused increased workloads, prolonged periods of stress, and safety concerns for healthcare professionals. Juxtapose these trends alongside higher costs of living, stagnant wages, and limited career advancement, and it's no surprise that more than 30% of nurses have changed jobs over the past three years.

As life returns to normal in post-pandemic-America, our healthcare sector remains forever changed.

Healthcare professionals are more burned out than ever – 1 in 4 medical professionals is considering leaving medicine and nearly 90% cite burnout as the leading cause. Without swift action, this number is expected to nearly double by 2025.

As vacancies skyrocket, money is flying out the door

The US Bureau of Labor Statistics predicts a shortage of over 1 million RNs by 2030 due to 'unprecedented [pandemic] demands placed on nurses – combined with retirements and an aging workforce'. The 2023 NSI National Health Care Retention & RN Staffing Report, which includes data from 273 hospitals, prices each vacancy at $52,350.

How can Plannery help?

Plannery is the financial management platform that helps healthcare professionals get and stay out of debt.

Our voluntary benefit improves employee retention by offering better rates on loans, an exclusive credit card andpersonalized financial management.

We've already improved retention of healthcare professionals at institutions like Advent Health, CVS Health, and HCA Healthcare – contact us today!

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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.