Essay - Financial Impact of Recruitment and Retention Recruitment and Retention of...


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Financial impact of recruitment and retention

Recruitment and retention of nurses: Strategies for improvement

Careers in the health care field can prove to be taxing upon the constitution of both seasoned professionals and new recruits. Nursing in particular is physically, mentally, and emotionally challenging. The statistics speak for themselves, fully 35% to 69% of newly hired graduate nurses leave their place of employment within the first year, ***** nurse turnover rates range from approximately 55% to 61% nationwide (Persaud 2008, p.1173). Retention is critical in assuring patients ***** quality and consistency in treatment, and such widespread mobility suggests that institutions must do more ***** improve job satisfaction for nurses.

Hospitals are attempting to increase retention rates. A "recent study found an inverse correlation of nurse education with acute care mortality ***** morbidity, a troubling finding if baccalaureate nurses leave ***** care prematurely. Patient safety, advocacy, and flexibility in a changing ***** care system underscore the importance of having experienced, well-educated nurses at the bedside. Ultimately, the well-publicized nursing shortage may not only be a shortage of numbers, but a shortage ***** highly educated nurses with acute care expertise ***** career longevity. Rapid ***** and loss of experienced RNs sign*****icantly impede leadership development ***** the development ***** practice ***** in high-acuity patient care areas. ***** of baccalaureate nurses is a central issue to patient safety" (Hodges *****, p.80). "A 2004 economic analysis published in the Journal of ***** ********** estimated that the ********** cost of turnover per registered nurse at one 600-bed acute ***** hospital is $62,100 ***** $67,100" (Poynton 2007, p.396). If action is not taken quickly, the entire healthcare pr*****ession will suffer. "A staggering number of reg*****tered nurses are leaving ***** profession due to feelings of stress, inadequacy, anxiety, oppression and disempowerment" (Persaud 2008, p.1173).

From the *****'s perspective, "typically, nurse salaries ***** benefits represent ei*****r the ***** or ***** second largest line item in a hospital's budget. Nurse retention, there*****e, can have significant f*****ancial implications for hospitals, as well ***** quality of c***** implications. A well-trained, experienced ***** *****s an extremely valuable source of knowledge *****d skills ***** hospitals can ill afford to lose" (Miller 2008, p.18). Saint Anthony Medical Center ***** Rockford, Illinois believed that one of the critical problems in its retention system was the fact that so many new nurses were overwhelmed, early on in ***** *****s in the OR. While the practice ***** hiring a ***** nurse to work in the OR ***** unheard-of at the facility, now it is a necessity, mean*****g that nurses ***** being called ***** to serve in more *****ful capacities earlier in their careers at the hospital. ***** Anthony implemented a men*****rship progr*****m as a way of ***** new nurses' outlook from one of surviving to thriving. Establ*****hing a single mentor to *****nchor the new nurse through rot*****ions was the ***** most successful ***** strategy. "Between January and June of 2006, five new graduate nurses and two experienced nurses were *****. All ***** hires completed the surgical nurse residency

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