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 ***** 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 ***** 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 of quality and consistency in treatment, ***** such widespread mobility suggests that ********** must do more to im***** job satisfaction ***** *****.

Hospitals 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 ***** care prematurely. Patient safety, advocacy, and flexibility in a chang*****g health care system underscore the importance ***** having experienced, well-educated ***** at the bedside. Ultim*****ely, the well-publicized nursing shortage may not only be a shortage of numbers, but a shortage of highly educated nurses with acute ***** expertise and career longevity. Rapid ***** and loss of experienced RNs sign*****icantly impede leadership development ***** the development of practice expertise in high-acuity patient care areas. ***** of baccalaureate ***** is a central *****sue to patient safety" (Hodges 2008, p.80). "A 2004 economic analysis published in ***** Journal of Nursing Administration estimated that the dollar cost ***** turnover per registered nurse at one 600-bed acute care hospital is $62,100 to $67,100" (Poynton 2007, p.396). If action is not taken quickly, the entire healthcare profession 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 *****spective, "typically, nurse salaries and benefits represent either the ***** or ***** second largest line item in a hospital's budget. Nurse retention, therefore, can have significant financial implications for hospitals, as well as quality of c***** implications. ***** well-trained, experienced nurse *****s an extremely valuable source of knowledge and skills that hospitals can ill afford to lose" (Miller 2008, p.18). Saint Anthony Medical Center ***** Rockford, Illinois believed ***** one of the critical problems in its retention system w***** the fact that so many new *****s were overwhelmed, early on in ***** ********** ***** the OR. While the 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 ***** being called ***** to serve in more stressful capacities earlier in *****ir careers at the hospital. ***** Anthony implemented a men*****rship program as a way of changing new nurses' outlook from one ***** surviving to thriving. Establ*****hing a single mentor to anchor the ***** nurse through rotations was the *****'s most successful retention strategy. "Between January and June of 2006, five new graduate nurses and two experienced ***** were *****. All new hires completed the surgical nurse residency

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