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


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Financial impact of recruitment and retention

Recruitment and ***** of nurses: Strategies for improvement

Careers in the health care field can prove to be tax*****g upon the constitution ***** 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 *****ly hired graduate nurses leave their place of employment within the first year, and nurse turnover rates range from approximately 55% to 61% nationwide (Persaud 2008, p.1173). Retention is critical in assuring patients ***** quality ***** consistency in treatment, and such widespread mobility suggests that *****stitutions must do more to improve job satisfaction ***** *****.

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

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

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