This is excerpt is adapted from our eBook, “Tales of Healthcare Talent Management Horror.”
If sometimes it feels like your healthcare organization is a graveyard filled with roles vacated way too soon, you, like many other hospitals and senior living organizations, are facing a healthcare employee turnover challenge.
According to the 2019 National Health Care Retention & RN Staffing Report from NSI Nursing Solutions, 25.6 percent of hospital new hires quit within their first year, accounting for about a third of all turnover. And in senior living facilities, turnover for key roles, such as RNs, LVNs, and CNAs have ranged from 55 percent to 75 percent for decades, as noted in the study, “The Costs of Turnover in Nursing Homes.” In the current talent market, it is easy for employees to be lured away by competitors, leaving your organization a practical ghost town.
Employee turnover contributes to your vacancy rate, hitting the bottom line as premium labor costs via overtime and agency spends, while also taking recruiters away from more strategic work, since they are always looking to refill the same jobs. But perhaps more importantly, this turnover is impacting the health of the people you care for, impacting your staffing ratios and even mortality rates.
What’s Haunting You?
Good employee retention strategies begin with better hiring strategies — after all, you need to be sure you are hiring the right people in the first place. Measuring for fit prior to extending an offer will help you stop new employees from seeming to evaporate right before your eyes. And with the right science and data, this is possible.
With the appropriate tools in place, you’ll be able to hire based on past performance and then set new employees on a successful path with better onboarding driving to better employee engagement right from the start.
Download the full eBook, “Tales of Healthcare Talent Management Horror,” to read all our spooky scares for talent managers across the continuum of care.