Papers-Thought Leadership 01493153_WP_TL_Blueprint White Paper-FINAL | Page 4

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Employee Turnover & Retention
Replacing a valued healthcare employee can cost up to 250% of the employee’s salary. According to an NSI study3, 83.9% of healthcare
respondents don’t record the costs of employee loss. With the report finding that the vacancy rate for nurses is expected to grow, hospitals
need to do all they can to keep retention high to avoid a lapse in patient care quality and the need to increase clinical workloads even
more.
Retention can provide the continuity of care that plays a large role in clinical care and patient satisfaction. Employees with less than one
year of tenure make up nearly 25% of all healthcare turnover nationally4.
Try tracking turnover in groups by tenure such as 0-3 months, 3-6 months, 6-12 months, >1 year, etc. Reporting the data in cohorts will
make it easier to pinpoint where in the lifecycle the attrition is occurring.
3 https://apihealthcare.com/sites/default/files/Financial%20Impact%20of%20Acuity%20based%20Staffing%20WP.pdf
4 http://www.nsinursingsolutions.com/Files/assets/library/retention-institute/NationalHealthcareRNRetentionReport2016.pdf
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