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 ***** both seasoned professionals ***** 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 ***** 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 ***** consistency in treatment, and such widespread mobility suggests that institutions must do more to improve job satisfaction ***** *****.

Hospitals are attempting to increase retention rates. A "recent study found an inverse correlation ***** nurse education with acute care mortality ***** morbidity, a troubling finding if baccalaureate nurses leave ***** care prematurely. Patient safety, advocacy, and flexibility in a changing ***** care system underscore the importance of having experienced, well-educated ***** at the **********. Ultim*****ely, the well-publicized nursing shortage may not only be a shortage of numbers, but a shortage of highly educated nurses with acute care expertise ***** career longevity. Rapid ***** and loss of experienced RNs sign*****icantly impede leadership development ***** ***** development of practice expertise in high-acuity patient care areas. Retention ***** baccalaureate nurses 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 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 registered nurses are leaving ***** profession due to feelings of stress, inadequacy, anxiety, oppression and disempowerment" (Persaud *****, p.1173).

From the hospital's perspective, "typically, nurse salaries ***** benefits represent either the first or the second largest line item in a hospital's budget. Nurse retention, theref*****e, can have significant financial implications for hospitals, as well as quality of care implications. ***** well-trained, experienced ***** *****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 that one of the critical problems in its retention system w***** the fact that so many ne***** nurses were overwhelmed, early on in their careers in the OR. While the practice ***** 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 to serve in more *****ful capacities earlier in their ***** at the hospital. ***** Anthony implemented a men*****rship program as a way of changing ***** nurses' outlook from one ***** surviving to thriving. Establishing a single mentor to *****nchor the new nurse through rot*****ions was the ***** most successful retention strategy. "Between January ***** June of 2006, five new graduate nurses and two experienced ***** ***** hired. All ***** hires completed the surgical nurse residency

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