Sample Resume : Nurse Retention Strategies

883 Words4 Pages
Leadership Paper Nurse Retention Strategies in a Changing World Suzanne O’Leary East Tennessee State University NRSE: 4060 Transition to Professional Practice November 2, 2015 Identification The never ending nurse shortage looms constantly as a reminder in the healthcare setting that with the increase of human population, superior medical technology, major changes to the nation’s medical healthcare, that this nursing shortage is predicted to worsen. The past four years have seen a steady rise in hospital turnover rates. More than 40% of the currently working registered nurses (RNs) will begin to approach retirement age in the next 10 years. (Pellico, 2009) This in addition to the turnover rate will compound matters. Hospitals…show more content…
According to a report released in 2014 by NSI Nursing Solutions Inc., the national average turnover rate for registered nurses rose to 14.2% in 2013, an increase from 2012’s rate of 13.1%. As the economy improves, the potential for related increases in RN turnover poses a challenge for hospital administrators and may signify that a larger nursing shortage is looming. A high turnover rate can be costly, considering that recruitment, training and orientation costs can range from $36,000 to 57,300 per RN. In spite of the excessive costs of turnover, recruitment costs, training and orientation costs, average hospitals report losing between $4 million and $6 million, fewer than half of these hospitals have a retention strategy. Forces Influencing the Issue When leadership is ineffective, morale suffers and productivity declines creating a negative impact on patient care and outcomes. Ultimately, an effective nurse leader shapes and influences nursing practice into opportunities for better performance and effective change. Additionally, when RN turnover is high, morale, patient care and recruitment suffer. On the other hand, retaining experienced nurses leads to stronger teams, better morale, improved patient care and significant cost savings. Today, health care providers are experiencing changes such as fiscal constraints, workforce shortages, sophisticated health care consumers and
Open Document