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 Expensive Replacements

Nurse burnout has been shown to be increasingly expensive for hospitals. Direct costs can include recruiting personnel, hiring and training, and hidden costs such as signing bonuses and incentives.

The American Organization of Nursing Executives estimates that the actual cost of replacing a medical/surgical nurse is $42,000, while the cost of replacing a specialty nurse is $64,000.
Kaiser Permanente puts an even higher price tag on nurse turnover: $47,403 for a medical/surgical nurse and $85,197 for a specialty nurse. It is estimated that approximately 1.3 million registered nurses (RNs) are employed by hospitals. With an average yearly turnover rate of roughly 15 percent, that translates into 195,000 nurse positions at an estimated $9.75 billion.

To cut down on these costs and to curb the nationwide nursing shortage, human resource professionals for long term care facilities need to place an emphasis on retaining a skilled nursing workforce. To accomplish this, there are a number of different strategies that employers can implement, including residency and mentor programs, stress relief classes, and improved benefits.

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