Will a Recession be Good Medicine for Facility Staffing Ills?

Are nursing homes recession proof?

Are Nursing Homes “Recession-Proof?” 

In past recessions, nursing homes were considered “recession-proof,” as the reduction in consumer spending and lack of access to staff didn’t have nearly the same negative impact on long-term care as it did on other industries.  

During a recession, there is traditionally less competition in hiring and a decreased reliance on temporary staff across all industries. For nursing homes, this has meant it was easier to keep full-time staff and reduce their reliance on agency staff. This trend has contributed to the sentiment that “recessions are good for nursing homes,” because facilities, historically, have been in a better position to be fully staffed with internal employees. For nursing homes, cutting agency usage has been a welcome result of past recessions. 

In today’s economy, GDP is low, hinting that another recession may be ahead of us. However, unemployment is low too. So, for those dreaming of a recession with a low employee turnover and a decrease in job mobility, the reality in 2022 may look much different. 

Could the Next Recession be Different? 

Beyond the public health and economic impacts that COVID brought upon the population, it also changed how the workforce values their occupation compared to other things in their lives. Work/life balance, boundaries at work, and flexible working models have become of the utmost importance to workers across all industries, including (and perhaps, especially) in nursing. 

All nursing professionals rank work/life balance as a top concern and more are demanding flexibility in their schedules. Pre-pandemic, 18% of the long-term care nursing workforce preferred flexible work. Today, that number is 40%. If the long-term care industry is essentially recruiting only 60% of the nursing workforce available for full-time work, how then can nursing homes use a recession to recruit more staff and eliminate agency? The answer lies in float pool management. 

Watch Webinar Replay of IntelyCare’s Founder and CEO, David Coppins and VP of Economics and Data Science, Ben Tengelsen presenting on the current state of the Long-Term Care Industry sponsored by McKnights

But Traditional Float Pool Management Doesn’t Work 

Managing an internal float pool the “traditional” way, with spreadsheets and phone calls, is inefficient. Scheduling or payroll systems are not built to manage a float pool – it is difficult to properly size them with fluctuating demand, and open shifts can’t be easily viewed or planned for in advance. Facility schedulers who hear the term “float pool” likely think about the hours spent calling the nurses on their float list, often in vain. 

The biggest difference between a recession in 2022 and those of the past might be access to technology.  

Use Purpose-Built Float Pool Management Software 

Software that is built specifically for float pool management can transform how quickly and easily you manage flexible staff. Predictive algorithms, intelligent incentives, and configured limits help you to keep shifts filled without exceeding budgets. The software also streamlines communication between facility and float pool staff and makes it easier to make schedule adjustments on the fly.   

  • Hire and retain more staff by offering flexible roles. 
  • Increase census and staffing while staying in budget. 
  • Easily fill shifts with advanced matching and pricing algorithms. 

Be Ready for Anything with a Stable Staffing Strategy 

IntelyCare’s Float Pool Management Platform is a best-in-class option for any long-term care organization looking for an effective and engaging way to build an internal float pool. It is the same software that IntelyCare has used and perfected to manage our pool of over 50,000 nursing professionals but is customized to facility needs.  


Join Today!

If you are a nurse or nursing assistant looking to join our network of nursing professionals, please visit our IntelyPro Application.

Related Articles

Sep 27, 2022

The 3 C’s of Hiring: Compensation, Communication, Community

Sep 23, 2022

3 Pillars of Healthcare Contingent Labor

Sep 21, 2022

How to Fire Your Staffing Agency 

Sep 13, 2022

Per Diem vs. Part-Time and What it Means for Your Future Staffing Strategy

Sep 2, 2022

How to Free Up Your Nurses’ Time with CMAs

Aug 30, 2022

Exploring the Difference Between Skilled Nursing and Assisted Living Facilities

Aug 26, 2022

CMS 2022 Guidelines Are Still in Flux: What Nursing Home Leaders Need to Know Today

Aug 19, 2022

Nursing Leaders’ Guide to the Future of Long-Term Care

Aug 11, 2022

What Nurses Want: 5 Tips for Retaining and Recruiting Nurses

Aug 4, 2022

10 Things LTC Leaders Should Know About Nursing Home Staffing Shortages

Jul 26, 2022

Assisted Living Staffing Ratios Need an Update to Keep Up With One Exploding Demographic

Jul 22, 2022

Create and Manage Your Own Nursing Float Pool With the IntelyCare Platform