Essay about Docx, Pdf

5297 Words Nov 30th, 2015 22 Pages
2009
Nursing Turnover: Costs, Causes, & Solutions

Steven T. Hunt, Ph.D., SPHR
Director of Business Transformation
SuccessFactors Inc.
(www.successfactors.com)
E-mail: shunt@successfactors.com
Copyright © 2009 SuccessFactors, Inc.

Invest in People …. Drive Business Results

SuccessFactors Healthcare

Executive Summary
Nursing turnover is a major issue impacting the performance and profitability of healthcare organizations. Healthcare organizations require a stable, highly trained and fully engaged nursing staff to provide effective levels of patient care.
The financial cost of losing a single nurse has been calculated to equal about twice the nurse’s annual salaryi. The average hospital is estimated to lose about
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These solutions can be categorized in four key focus areas. Of these four areas, the one that provides the most immediate benefits at the lowest cost is improving methods used to manage nurses after they are hired.
Increase number of nursing candidates
Screen out candidates based on “job fit”

Make jobs more attractive to nursing candidates
Improve methods to manage nurses after they are hired

This paper reviews the consequences and financial costs of nursing turnover, the primary causes of nursing turnover, and methods to increase retention in these pivotal healthcare jobs. The paper focuses on research conducted with registered nursing populations, although many of the findings in this research generalize to other healthcare jobs. Healthcare organizations are strongly advised to leverage the results of this research to invest in talent management practices that will have the greatest value for ensuring a steady workforce of qualified and engaged nurses. The

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