Over $8 Million Dollars in financial incentives launched to retain healthcare professionals and stabilize the healthcare workforce on Prince Edward Island
Today, the Honourable Dennis King, Premier of Prince Edward Island, and the Honourable Ernie Hudson, Minister of Health and Wellness announced over $8 Million dollars in financial incentives to encourage healthcare providers to continue to work in the healthcare system in addition to filling key vacant positions throughout the system.
The Retention Incentive Program will provide financial incentives to help stabilize the healthcare workforce and retain nurse practitioners, registered nurses, licensed practical nurses, paramedics, and registered care workers in exchange for a one-year return in service agreement.
Retention Incentives will include:
- $3,500 for registered nurses and nurse practitioners;
- $3,000 for licensed practical nurses and paramedics; and
- $2,500 for residential care workers, home support workers and patient care workers.
Incentives will be made eligible for healthcare professionals offering a one-year return in service agreement. Incentives are not specific to any facility or unit and both full and part-time staff are eligible.
A Retirement Retention Program will also be launched providing a $5,000 incentive program to retain those who are eligible to retire in exchange for a one-year return in service in key roles within the health system.
In addition, a Priority Vacancy Program will also be implemented providing a further $3,000 financial incentive aimed at filling key vacant positions throughout the system. Individuals can access these incentives in addition to the retention incentives for a one-year return-in-service. It is anticipated that 190 positions within the system will be eligible for the priority vacancy incentive program.
All incentives will be calculated on 1950 hours over a twelve-month period. The Retention Incentive Program will be retroactive to September 2022.
“I made a commitment to help address the challenges facing our healthcare sector and working collaboratively with healthcare leadership including our unions. These incentives, while only a part of the overall solution of stabilizing our health care system, will provide the needed focus on retaining the healthcare professionals we have working tirelessly to provide quality healthcare services to Islanders.”
– Hon. Dennis King, Premier of Prince Edward Island
“Our health professionals are critical to providing the care Islanders need. These programs will help to encourage our skilled workers to remain in the healthcare system on PEI where they can continue to contribute to the well-being of Islanders.”
– Hon. Ernie Hudson, Minister of Health and Wellness
“Healthcare workers care for Islanders who are sick, injured and in need of support. They work long hours to provide health care services across the province day in, day out. Retaining our excellent staff is not just important, but vital, to sustaining and rebuilding our healthcare system. Today’s announcement shows the provincial government and Health PEI are committed to recognizing the value of our healthcare workers and thanking them for their contributions.”
– Dr. Michael Gardam, Chief Executive Officer of Health PEI
Department of Health and Wellness