“Retention” Bonus

Written by LeAnn Thieman, CSP, November 1st, 2008

When I presented at an East Coast hospital recently, they told me how they implemented, not a recruitment bonus, but a “retention bonus.” Nurses who stayed five years were given $5000! Ten year devotees were given $10,000! Yes, 20 year veterans, with great performance reviews, were gifted with $20,000. Considering that it costs over $50,000 to recruit and train a new nurse, this is a great investment!

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