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 ***** 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, and 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, ***** such widespread mobility suggests that ********** must do more ***** im***** job satisfaction for *****.

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

From the hospital's perspective, "typically, nurse salaries ***** benefits represent ei*****r the ***** or ***** second largest line item in a hospital's budget. Nurse retention, therefore, can have significant financial implications for hospitals, as well ***** quality of care implications. ***** well-trained, experienced ***** *****s an extremely valuable source ***** knowledge *****d skills ***** hospitals can ill afford to lose" (Miller 2008, p.18). Saint Anthony Medical Center of Rockford, Illinois believed that ***** of the ***** problems in its retention system was the fact that so many new nurses were overwhelmed, early on ***** ***** *****s 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, meaning that nurses were being called ***** to serve in more ********** capacities earlier ***** their careers at the hospital. ***** Anthony implemented a men*****rship progr*****m as a w*****y of changing ***** nurses' outlook from one of surviving to thriving. Establishing a single mentor to *****nchor the new nurse through rotations was the ********** most successful retention strategy. "Between January and June of 2006, five new graduate nurses and two experienced nurses ***** *****. All ***** hires completed the surgical nurse residency

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