2023 Financial Well-being Survey: Healthcare Industry

2023 Financial Well-being Survey: Healthcare Industry

Healthcare Professionals Face Rising Financial Challenges

There’s no question that in 2023, the healthcare industry and its employees are feeling the lingering aftermath of shouldering the frontline impact of a three-year pandemic. From burnout to a short supply of labor across all levels of healthcare employment – compounded by rising consumer prices and interest rates – the industry is confronting growing financial challenges with little relief in sight. Furthermore, the supply of healthcare employees simply can’t keep up with demand, making retention a key focus for healthcare employers.

As a result, healthcare professionals are looking for new job opportunities and prioritizing financial wellness and support benefits, according to the 2023 Financial Well-being Survey: Healthcare Industry published by Purchasing Power.

When it comes to employee retention, valued benefits go a long way in keeping healthcare workers happy, as 80% say benefits are just as important as salary. And with 35% saying they changed jobs for better benefits, employers cannot overlook the importance of providing both long-term and short-term benefits as part of their compensation package.

About the Survey

Conducted in early June 2023, the survey explores the financial well-being of over 500 U.S. healthcare professionals earning $100K or less annually on multiple topics, including:

  • financial benefits offered to employees
  • current debt-load and how it’s being paid for
  • impact of unplanned expenses on monthly household budgeting
  • compensation, emergency saving levels, and more

Respondents cover all age groups (18 and older), regions, and genders.

Get a clearer picture of what employees are saying through these resources:

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