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 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 ***** im***** job satisfaction ***** nurses.

Hospitals are attempting to increase retention rates. A "recent study found an inverse correlation ***** 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 health care system underscore the importance of having experienced, well-educated ***** at the **********. Ultimately, the well-publicized nursing shortage may not only be a short*****ge of numbers, but a shortage ***** highly educated nurses with ***** ***** expertise and career longevity. Rapid turnover and loss of experienced RNs sign*****icantly impede leadership development ***** ***** ***** of practice expertise in high-acuity patient care areas. Retention ***** baccalaureate ***** is a central *****sue to patient safety" (Hodges 2008, p.80). "A 2004 economic analysis published in the Journal of ***** ********** estimated that the dollar cost ***** turnover per registered nurse at one 600-bed acute ***** 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 *****s 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 the second largest line item in a hospital's budget. Nurse retention, theref*****e, can have significant financial implications for hospitals, as well ***** quality of c***** implications. A well-trained, experienced nurse *****s an extremely valuable source ***** knowledge *****d skills that hospitals can ill af*****d to lose" (Miller 2008, p.18). Saint Anthony Medical Center of Rockford, Illinois believed ***** ***** ***** the ***** problems in its retention system was the fact that so many new nurses were overwhelmed, early on ***** their *****s in the OR. While the practice of hiring a new nurse to work in the OR ***** unheard-of at the facility, now it is a necessity, meaning that nurses ***** being called upon to serve in more stressful capacities earlier ***** ********** careers at the hospital. Saint Anthony implemented a men*****rship program as a way of ***** ***** nurses' outlook from one of surviving to thriving. Establishing a single mentor to anchor the new nurse through rotations was the ***** most successful ***** strategy. "Between January and June of 2006, five new graduate nurses and two experienced nurses were hired. All new hires completed the surgical nurse residency


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