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You’ve read the national studies. You’ve reviewed your hospital’s reports. You’ve experienced it in your unit. Nurse turnover is an issue that impacts hospitals large and small, rural and urban, community or academic, for-profit and non-profit. Currently, the national rate is between 16-17 percent and health systems across the U.S. are prioritizing their retention strategies and investments.
For chief nursing officers, nurse turnover has become a top priority that impacts all corners of the health system from patient safety to the bottom line. Current research tells us that the national nurse turnover rate is around 17% and replacing one nurse can cost around $60K.
Following generations that remained loyal to their company for 30+ years (complete with 6 weeks vacation and a healthy pension), it’s not uncommon for today’s employee, for example in the tech sector, to hop around every year.
In our recent white paper, The Modern Nurse Manager, laudio published several validating findings about the role of nurse manager. In summary, it’s one of the most difficult jobs in healthcare.