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 taxing 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% ***** 61% nationwide (Persaud 2008, p.1173). Retention is critical in assuring patients of quality ***** consistency in treatment, and such widespread mobility suggests that *****stitutions must do more to improve job satisfaction for *****.

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

From ***** hospital's perspective, "typically, nurse salaries and benefits represent either the ***** or the second largest line item in a hospital's budget. Nurse retention, theref*****e, can have significant f*****ancial implications for hospitals, as well as quality of care implications. ***** well-trained, experienced ***** *****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 of the critical problems in its retention system w***** the fact that so many new nurses were overwhelmed, early on in ***** careers in the OR. While the practice of hiring a ***** nurse to work in the OR was unheard-of at the facility, now it is a necessity, mean*****g that nurses ***** being called upon ***** serve in more stressful capacities earlier ***** *****ir careers at the hospital. Saint Anthony implemented a mentorship progr*****m as a w*****y of ***** new nurses' outlook from one of surviving to thriving. Establ*****hing a single mentor to ********** the ***** nurse through rot*****ions was the hospital's most successful ***** strategy. "Between January ***** June of 2006, five new graduate nurses and two experienced ***** were hired. All ***** hires completed the surgical nurse residency

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