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 tax*****g 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 ***** employment within the first year, ***** nurse turnover rates range from approximately 55% ***** 61% nationwide (Persaud 2008, p.1173). Retention is critical in assuring patients of quality and consistency in treatment, and such widespread mobility suggests that institutions must do more to im***** job satisfaction for *****.

***** are attempting to 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 ***** having experienced, well-educated nurses at the *****dside. Ultimately, the well-publicized nursing shortage may not only be a short*****ge of numbers, but a shortage of highly educated nurses with acute ***** expertise ***** career longevity. Rapid ***** and loss of experienced RNs significantly impede leadership development ***** ***** development of practice expertise in high-acuity patient care areas. Retention of baccalaureate nurses is a central issue to patient *****" (Hodges 2008, p.80). "A 2004 economic analysis published in the Journal of ***** Administration estimated that the dollar cost of turnover per registered nurse at one 600-bed acute care 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 nurses are leaving the profession due to feelings of stress, inadequacy, anxiety, oppression and disempowerment" (Persaud 2008, p.1173).

From the *****'s **********, "typically, nurse salaries ***** benefits represent either the first 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 ***** knowledge and skills ***** hospitals can ill af*****d to lose" (Miller 2008, p.18). Saint Anthony Medical Center of Rockford, Illinois believed that one ***** the ***** problems in its retention system w***** the fact ***** so many new *****s were overwhelmed, early on ***** their careers in the OR. While ***** practice of hiring a ***** nurse to work in the OR was unheard-of at the facility, now it is a necessity, meaning that nurses were being called upon to serve in more stressful capacities earlier in their careers at the hospital. Saint Anthony implemented a men*****rship progr*****m as a way of ***** new nurses' outlook from one ***** surviving to thriving. Establishing a single mentor to anchor the new nurse through rot*****ions was the ***** most successful ***** strategy. "Between January and June of 2006, five new graduate nurses and two experienced ***** ***** hired. All ***** hires completed the surgical nurse residency

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