Award winning, specialist care provider Cornerstone Healthcare has launched an ‘industry first’ bonus scheme designed to attract nurses.
The scheme offers up to 5% of annual salary for all hours worked, including overtime, which is completely uncapped.
The new scheme will be rolled out to all the group’s nurses alongside a 5% pay rise for day nurses, and an 8% pay rise for night nurses, effective from 16 October 2021.
The latest pay increase puts the average nursing salary at Cornerstone at around £46k, compared to around 28k for a similar role within the NHS. For a nurse on an entry level salary, working on average 25 hours a month overtime, this could result in annual gross pay of around £54,600.
CEO Johann van Zyl (pictured) said: “We are fortunate to be in a position to reward our staff for their dedication and hard work in this way, particularly after such a challenging period. We know that employees that feel appreciated are more likely to stay with us, and that is a long-term commitment; but we are also not complacent about the scale of the recruitment and retention crisis.
“The sector is facing an unprecedented challenge. It employs around 1.5 million people, but the number of vacancies is 120,000 and growing. This is felt more than ever in the South/South East where there is a higher density of care homes. For staff working in care, particularly in facilities with proportionally bigger staffing challenges, this means they need to do more work in less time, and it creates a lot of pressure. When this happens, often no amount of financial incentive would be enough to retain employees who want to leave their job, or even leave the sector completely.”