The Federal Government has introduced a circuit breaker to alleviate the nursing shortage by providing in this year’s Federal Budget, $39.4 million over five years to encourage qualified nurses to return to the nursing workforce. Returning nurses will be paid $3,000 after 6 months and a further $3,000 after 18 months.

However, according to Nicky Wakefield, Human Capital Partner at Deloitte, it’s now up to employers to define a strategy for engaging and retaining both the newly entering nurses and the incumbent workforce.

“Healthcare providers need to formulate effective Talent Management strategies in order to achieve sustainability,” she said.

“Money is a start but it won’t be enough...we know that remuneration and reward is only one element of effectively retaining and engaging workers.

The Government is doing its part but it will fail unless employers have an effective talent management strategy in place.

“The long term strategy needs to target both core and innovative solutions to managing talent. Effective performance management, career and succession management and learning and development are some of the essential core solutions as are more innovative solutions such as customising careers, improving mobility and workplace transformation.

“Unless the healthcare providers have a clearly defined Talent Management strategy that targets these and other key components, this acquisition of nurses will be short-lived.”