Promoting Quality through Fiscal Responsibility

Promoting Quality through Fiscal Responsibility

Nursing turnover is extremely costly for healthcare organizations. According to the 2019 National Healthcare Retention & RN Staffing Report, it costs between $40,300 and $64,000 to replace one clinical nurse, costing the average hospital a $4.4 million to $6.9 million loss each year. The nurse leader must employ strategies to retain nursing staff. This involves using (savvy) leadership skills and implementing cost-efficient yet effective retention practices.

Five practices have been identified as important in decreasing turnover:

• *Onboarding*
• Employee Rounding
• Social Networking
• *Employee Recognition*
• Developmental

please do the two with stars

Consider your current organization or one that you have been affiliated with in the past. What specific activities in any of these five practices are occurring (or have occurred) in that organization? Choose two of these areas and identify at least two activities that the nurse leader could employ. Remember that these must be consistent with the organization’s vision, mission, values, and culture.