What's the Cost of Turnover at Your Healthcare Organization?
The C-Suite Handbook For Strategic Healthcare Recruitment
What You’ll Learn
Healthcare hiring managers and HR teams tend to be strapped for time and resources. When employees quit, they need to get people in those positions as quickly as possible. But these conditions can lead to short-sighted hiring approaches and troublesome turnover rates.
However, strategic recruitment is a solution to prevent this turnover problem. Healthcare organizations that hire the right people from the beginning see improved satisfaction among workers and patients, and they reduce their financial and personnel losses. Learn more about:
- Recruitment Strategies
- Providing High-Quality Care
- Better Ways to Engage Your Employees
By the Numbers
The healthcare industry’s turnover problem is growing year by year. The pandemic exacerbated the problem, with total employee turnover at just under 40 percent in 2021. Nurses are especially difficult to retain — 34.81 percent was the RN turnover rate in 2020. And in 2021? That percentage jumps to 40.45 percent.
Losing a single bedside RN can cost hospitals anywhere from $28,400 to $51,700, resulting in the average hospital losing between $3.6 million to $6.5m per year — and that’s if they can find the right people to fill that vacancy.