Nurse Retention: Nurses No Longer Work for Highest Pay

Written by LeAnn Thieman, CSP, April 5th, 2016

The nurse retention strategies that worked 10 or even 5 years ago cannot meet the demands of turnover facing healthcare today.

nurse retentionIt’s estimated that over 260,000 nurses leave the profession each year, and are not being replaced as quickly as they leave. In turn, new nurses do not have the same experience level as seasoned nurses. For skilled nursing, the median turnover rate is 43.9%. Each percentage change costs about $379,000 on average, which means an average loss for a hospital of about $5 to $8 million annually, not to mention the erosion in quality of care.

Nurses are no longer working where the pay is higher…they want more than that. They want and need life balance. To learn the best strategy to implement life balance and improve nurse engagement, visit SelfCare for HealthCare.

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