There are multiple benefits of contract negotiation as a nurse practitioner.
For example, more money in your pocket, increase in vacation days, a higher company match with your 401k are all potential positive possibilities. You worked hard to obtain your Master of Science in Nursing or Doctor of Nursing Practice and should be paid for the value you bring to the healthcare field. But there are other, non numerical benefits of negotiating your APRN contract.
Let’s take a look at three benefits of contract negotiation as nurse practitioners.
Feel empowered.
When you are able to create a contract that pays you your worth, you will feel motivated to work hard. You want to show your employer you are capable of bringing in that income (and more) for the healthcare institution. Nurse practitioners are known for their impact and care for patients.
When you feel good about your compensation package, you feel empowered to care for your patients. You feel inspired to efficiently and accurately chart. You feel moved to make more money for your employer. You want to do a good job as a nurse practitioner.
Decrease poor outcomes.
When you are aware of the red flags or negative components in your contract, you are more likely to negotiate the right things. Having a solid contract is not just about having a higher salary, you also need to be aware of the concepts that could cause issues down the road.
For example, if you choose to terminate the contract, will you have to pay back a sign on bonus or student loan forgiveness? Do you have a noncompete clause and do you understand the implications of breaking that contract? If you were blindsided when you chose to leave that institution, you may become frustrated and feel betrayed. Being mindful of the negative concepts will help to decrease poor outcomes.
Prevent nurse practitioner burnout.
Negotiating your nurse practitioner contract will help you appreciate your job. And when you enjoy your job, you are less likely to become burned out. Similar to feeling empowered, you will be motivated to do the work.
You will want to show up to work everyday. You will enjoy seeing patients. You will feel like you are valued in your role. All of these concepts will help you to prevent (or overcome) nurse practitioner burnout.
Obtaining the benefits of contract negotiation
In order to actually obtain the benefits of contract negotiations as nurse practitioners, we need to first learn how to negotiate. In this level of job, it is typical for nurse practitioners to negotiate their contracts. And with any kind of negotiation, the person negotiating needs to be prepared and confident.
There are 5 steps to nurse practitioner contract negotiation.
- Step 1: Find your vision: Figure out what you want in your job and contract.
- Step 2: Preparation: Master the 5 Knows of Negotiation and devise a plan for your negotiation.
- Step 3: During the Negotiation: Feel confident and calm while negotiating.
- Step 4: Troubleshooting a Negotiation: Met with a low ball offer? Didn’t get what you asked for? Learn what to do when issues arise!
- Step 5: Post Negotiation: Learn what to do after a negotiation and if needed, determine when you can terminate a contract.
Once a nurse practitioner learns and applies these 5 steps, they can negotiate with confidence and reap the benefits of contract negotiation. Don’t be afraid to negotiate for what you want/need as a nurse practitioner!
For more information, check out The Burned-out Nurse Practitioner’s course Contract Negotiation for Nurse Practitioners.
For time management and charting tips, check out The Nurse Practitioner Charting School– The one stop for all documentation resources created specifically for nurse practitioners. Learn more at www.npchartingschool.com
**Full disclosure, this blog post may include affiliate links. I do receive a commission if any of the affiliate programs/services/supplies are purchased. This is at no extra cost to you but does allow me to continue to provide content as The Burned-out Nurse Practitioner! Thank you!
