Monetary bonuses serve several important functions within the healthcare sector:
1. Attraction and Retention: Bonuses can help attract new talent and retain existing staff, which is crucial given the ongoing nursing shortage.
2. Motivation and Morale: Financial incentives can significantly boost morale and motivation, encouraging nurses to maintain a high standard of care.
3. Recognition: Bonuses serve as a form of recognition and appreciation for the hard work and dedication that nurses put into their roles.
4. Performance Improvement: Performance-based bonuses can lead to improved patient care outcomes, as nurses strive to meet or exceed the criteria set for receiving these bonuses.
