Editor's note: This popular story from the Daily Briefing's archives was republished on Aug. 9, 2023.

The Bureau of Labor Statistics (BLS) released a list of the 20 occupations with the highest projected growth rate between 2021 and 2031, with nurse practitioners claiming the top spot.

The healthcare jobs on the list

For the list, BLS identified the 20 occupations with the highest projected percent growth rate between 2021 and 2031, including four healthcare jobs.

1. NPs

The occupations with the highest projected growth are NPs, nurse anesthetists, and nurse midwives. In May 2021, the median wage was $123,780 annually and $59.51 per hour.

From 2021 to 2031, the projected growth rate is 40%, which is significantly higher than the national average. On average, BLS projects that there will be around 30,200 new openings for nurse anesthetists, nurse midwives, and NPs each year.

15. Medical and health services managers

Medical and health services managers ranked no. 15 on the list. In May 2021, the median wage for this occupation was $101,340 annually and $48.72 per hour.

From 2021 to 2031, the projected growth rate is 28%. On average, BLS projects that there will be around 56,600 new openings for medical and health services managers each year.

17. Physician assistants (PAs)

PAs ranked no. 17 on the list, with a projected growth rate of 28% from 2021 to 2031. In May 2021, the median wage was $121,530 annually and $58.43 per hour.

On average, BLS projects that there will be around 12,700 new openings for PAs each year.

20. Physical therapist assistants

Physical therapist assistants and aids ranked no. 20 on the list, with a projected growth rate of 24% from 2021 to 2031. In May 2021, the median wage for physical therapist assistants and aids was $49,180 annually and $23.64 per hour.

On average, BLS projects that there will be around 25,500 new openings for physical therapist assistants and aides each year.

According to BLS, many of the job openings for these positions will likely result from a need to fill vacant positions resulting from workers leaving the healthcare workforce or retiring. (BLS Fastest Growing Occupations list, accessed 1/20; Taylor, Becker's Hospital Review, 1/19)

3 ways to correct the workforce supply-demand imbalance

By Allyson Paiewonsky

While these new figures from the BLS underscore just how quickly the healthcare job market is growing, there are still significant areas of supply and demand imbalances across many roles in the delivery system. The COVID-19 pandemic has exacerbated existing challenges to workforce stability, leading many staff to rethink their roles in healthcare. Other factors affecting the supply of healthcare professionals include high retirement rates with low entry rates, administrative burdens, and burnout. In terms of demand, there’s an increased need for healthcare roles due to a growing, aging, and increasingly complex patient population. As a result, one of the biggest challenges healthcare leaders are grappling with is the workforce supply-demand imbalance.

For some roles — particularly RNs, CNAs, and LPNs — the current pipeline will not meet the future demand. For others, there may actually be too many individuals in the pipeline given projected demand — that’s true of nurse practitioners. And even for roles where the existing pipeline appears to meet projected future needs, these staff are often not in the geographies, sites of care, or roles where they are needed most. As a result, gaping holes in staffing rosters, prolonged vacancies, unstable turnover rates, and an unchecked use of premium labor are now all commonplace.

The table below outlines turnover and the status of the pipeline for future clinical roles: 

So how can health systems ramp up their recruitment and retention efforts in the face of a growing supply-demand imbalance? Below are three insights to help advance your clinical workforce strategy: 

1.       Compensation and benefits matter — but if you really want to improve clinician satisfaction, focus on the work environment.

While offering competitive total rewards is critical to attracting and retaining staff, compensation and benefits alone won't solve the root cause of employee disengagement. To retain clinical talent, increase support for staff well-being, recognition, and work-life balance. This can include offering more workplace flexibility and creating an environment that facilitates staff making meaningful connections with colleagues and patients.

2.       Your employee value proposition should reflect the intersection of what staff want and where the organization excels.

A compelling employee value proposition can improve retention and support the recruitment of top talent whose interests align with the organization's culture and offerings. Since there is fierce competition for clinical talent, right now is an important moment for every organization to re-evaluate their employee value proposition — or build one if they haven't.

3.       Developing a more diverse candidate pipeline is the key to strengthening your workforce.

Even after years of focus, many pools of talent are still underrepresented in the clinical workforce. Diversifying the clinician pipeline creates a larger candidate pool to choose from, ensures clinicians better reflect the demographics of the community they serve, and can also improve patient outcomes and compliance. Start by reforming the hiring process by taking steps like assessing your clinical workforce composition to identify who is underrepresented and evaluating role requirements that could potentially deter qualified applicants.