Knowledge

Cost-Effective Nurse Retention and Recruiting Programs

Cost-Effective Nurse Retention and Recruiting ProgramsSeptember 18, 2015 by Vickie Anenberg

As the distance between the demand for and the shortage of qualified RNs continues to grow, hospital leaders must implement programs to retain their current staff, while creating plans to control the costs of recruiting new nurses to replace those who resign, retire, or change career paths. Cross Country Staffing notes that developing such complex plans and managing them long-term can be an expensive, daunting undertaking.

According to Karlene Kerfoot, RN, who serves as the chief integration officer of API Healthcare, it can cost a hospital as much as $82,000 to replace a single qualified RN. Therefore, hospitals must be confident the retention and recruiting programs they put in place have the capability to meet their current needs, as well as the flexibility to meet future staffing challenges.

There are generational differences that must be addressed for retention. For example, numerous surveys in recent years indicate that the primary concern of millennials is their quality of life. At the same time, a high percentage of more experienced professionals who have suffered financial setbacks due to the recent recession may be inclined to place income above other considerations.

Part of the retention solution is to empower nurses by giving them a greater voice when it comes to selecting their shifts based on availability. But nursing supervisors must also be concerned with having the right mix of experienced nurses on each unit to manage critical factors such as patient acuity.

Last year, the American Nurses Association announced the organization was in favor of limiting shifts to not more than 12 hours, and a maximum of 40-hour work weeks. Most professional nursing organizations also endorse abolishing mandatory overtime policies.

Hospital margins are shrinking, while the burden of more regulation and value-based reimbursement become the norm. As a result, in-house staffing initiatives are quickly becoming an unacceptable drain on increasingly scarce financial resources. That is the primary reason your facility should consider entering into a strategic staffing partnership with Cross Country Staffing.  

We have developed proven workforce solutions designed to relieve the burden of managing cumbersome in-house staffing programs with cost-effective solutions ranging from Workforce Assessment and Predictive Labor Management to our highly successful Managed Services Provider program. Talk with a Cross Country Staffing representative to find out more about the staffing solutions we can tailor to meet your facility’s unique needs. At Cross Country Staffing, we’ve set a new paradigm for strategic workforce management, and we’re ready to earn your trust.