2 weeks Ago By William Kaufmann
Ever dream of a job that has stability, faster wage growth and good benefits? Look no further than the current job market for health care workers. Why? Retirements of older health care workers, the pressure of a pandemic, an aging population, new technologies to help us live longer and a health-conscious populace, to name a few. According to the Labor Department, the health care industry added 59,000 jobs on average from only January to July in 2024.
The open jobs include nurses, home health aides, emergency medical personnel and certified technicians in most all medical testing: oncology, imaging, blood workup, colonoscopy, urology, radiology and many more. Many of these jobs only require a certification in the specialty, which means study of course work resulting in a practical and written test. The need for additional talent is increasing, not diminishing.
Plus, the economic cycle is not like construction, retail, hospitality or the travel industries. Wage growth in the health care industry is also growing faster than most others, except maybe in certain segments of technology. According to the Employment Cost Index, health care and social assistance workers gained 4.
5% in the second quarter of 2024 and remains strong. For many segments of the health care market, hiring bonuses are extended to attract more candidates. One such company offered sign-up bonuses of up to $30,000 for nurses.
Many workers in other industries make that much income in an entire year. Because the demand for talent is much greater than the supply, organizations are hiring more quickly so candidates aren’t recruited away before an offer is made. One company reduced its time to fill a position by 91%, now taking only 10 days to hire a nurse.
And recruiting for health care workers with technical expertise have become a national search rather than a local one. This makes the health care industry very attractive to those who are not satisfied with their careers to date. How do you make the transition from where you are now to the health care industry? Well, of course it depends on where you are currently.
For those who have a career in technology, a transfer to health care should be much easier than someone who would need a more formal degree. On the other hand, a certified phlebotomist (someone who collects blood samples and prepares them for testing) can earn between $35,000 to $40,000 a year after taking a four-to-eight-week course and passing a series of tests to receive a certification. Many individuals registered in a course or certification program as a technician have offers ready for them before they complete the program.
The job comes to you rather than you going after the job. A nice feeling. The message? It’s never too late to change direction and advance your career.
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