FEATURED NEWS
01.16.24
Dallas, TX – January 16, 2024 /PRNewswire/ – ShiftKey, a leading technology marketplace disrupting healthcare through data and workforce empowerment, today unveiled findings from the “ShiftKey Empowered Workforce Report.”
The data highlights the role flexibility can play in alleviating the healthcare workforce crisis. More than a third of healthcare professionals surveyed reported previously taking a pause in their career; however, nearly 78% of professionals who returned to the workforce cited flexibility and control over their own schedules as the key factor in allowing them to return. In fact, nearly one-third (32%) of professionals surveyed say they would be unable to work in healthcare without the flexibility that a platform like ShiftKey provides – highlighting the critical role that an empowered workforce fills.
Additional highlights from the report include:
Career pauses perpetuate workforce crisis: Over one-third (34%) of healthcare professionals surveyed reported taking a pause in their careers, perpetuating large-scale workforce shortages across the industry. Of those who report taking a pause, nearly one-third (28%) temporarily left the workforce altogether. Nearly half (49%) of those who took a career pause were out of the healthcare industry for 1-3 years, emphasizing the transient nature of these breaks and potential challenges in workforce stability.
Overburdened workforce drives churn: Burnout and overscheduling (40%) were listed as the number one reason workers paused their careers, followed by inadequate pay (22%) and lack of flexibility (16%). Nearly 3 out of 4 (71%) healthcare workers who use the ShiftKey platform have caregiving responsibilities in the home, whether that be children, another family member or a partner.
Flexibility’s impact on bringing healthcare workers back into the workforce: A significant majority (78%) of healthcare professionals who took a break from the industry credited the flexibility found through the variety of work opportunities on the ShiftKey marketplace as a key factor in enabling their return to the healthcare workforce, highlighting the positive influence of the app on professionals seeking to find ways to continue to use their skills while managing different personal responsibilities. 1 in 3 (32%) of all healthcare workers who use the ShiftKey app stated that without the ability to work on their own schedule, they would not be able to continue working in the healthcare industry.
ShiftKey’s effect on work opportunity: More than half (55%) of the healthcare workers who use the ShiftKey app stated that they were introduced to a new healthcare setting or geographic location through the ShiftKey app.
The report, based on 2,400 licensed healthcare professionals who use the ShiftKey platform, showcases a potential path to bringing back many of the healthcare workers who left the workforce or switched careers due to burnout or the inability to balance personal needs. The report also highlights that an empowered and independent workforce is a key solution to the growing shortage of healthcare professionals impacting care facilities and patients across the nation.
“By 2034, older adults will outnumber children for the first time in U.S. history, creating a significant inflection point in the healthcare workforce crisis,” said Mike Vitek, CEO, ShiftKey. “During a time when healthcare organizations are desperate for talent, it is imperative we address the challenges facing workers, which demand unique and innovative solutions that empower them and restore autonomy. This new data shows the power these workforce solutions have to make a significant impact in solving this crisis and emphasizes the need for alternative working models within the healthcare industry.”
Read the full report here: Shiftkey.com/Resources
About ShiftKey
ShiftKey is a technology company committed to transforming access and integrity in the workforce. By leveraging data and a marketplace approach to connect independent licensed professionals with facilities with open workforce needs, ShiftKey is playing a vital role in advancing empowered work, stability and solutions for professionals, facilities and the people they serve. With 10,000 healthcare facilities and hundreds of thousands of independent licensed professionals on the platform, ShiftKey is the market leader in strategic workforce solutions, driving a more sustainable, inclusive and profitable workforce economy for the future. For more information, visit www.ShiftKey.com.
About Platform Partners LLC
Founded in 2006, Platform Partners LLC is a private investment company based in Houston that makes investments in lower middle-market companies with the intent of growing these businesses into industry leaders through a combination of organic and acquisition growth. Platform invests through a perpetual holding company structure allowing for a long-term, patient approach to partnering with entrepreneurs to build companies. The company manages total assets of approximately $950 million. For more information, please visit platformllc.com.