Notably, pay rates for travel nurses are also declining. The increased cost of RN turnover amid margin shortfalls, as well as the continued out-migration of novice or early career nurses from front-line acute care delivery roles, are also substantial challenges. In particular, they highlight the increased time it takes to fill vacant RN positions - despite 70% of organizations expressing interest in growing their RN workforce. However, these data also reflect continued and emerging challenges. NSI's newly released data shed some welcome light on key progress areas, including overall hospital workforce and RN turnover declines. In the current healthcare climate, staffing and clinical workforce issues remain a top priority for C-suites. Turnover rates are declining - but our work isn't finishedīy Carol Boston-Fleischhauer, Donald Malott, and Jennifer Bierhoff (NSI National Health Care Retention & RN Staffing Survey, accessed 4/10)text "Building and retaining a quality workforce is paramount to navigate the staffing paradigm," the report notes. In particular, the report calls on hospitals to build retention capacity, manage vacancy rates, bolster recruitment initiatives, and control labor expenses. "Managing retention should be a strategic imperative, particularly given the high cost of turnover and the ongoing RN staffing crisis," the report states. In 2022, the average hospital lost between $6.6 million and $10.5 million due to RN turnover.įor every percent decrease in RN turnover, the average hospital will save an additional $380,600 annually. According to the survey, the average cost of turnover for a bedside RN was $52,350 in 2022, marking a 13.5% increase from 2021. Ultimately, the high cost of turnover can have a significant impact on hospital margins. "This is particularly true for surgical services, behavioral health and women's health." "When we consider the average age of nurses and the anticipated wave of retirements about to break, we need to keep in mind that some specialties will be impacted at a quicker pace," the report adds. Over the past five years, the average hospital turned over 101.4% of its RN workforce. However, RN turnover decreased by 4.6% in 2022, with a national turnover rate of 22.5%. In 2021, the turnover rate for all staff RNs was 27.1%, a significant increase from 18.7% in 2020. Historically, RN turnover has been lower than the hospital average - but this changed in 2021. Meanwhile, RN turnover remains elevated and comparable to overall hospital averages. The average hospital turned over 105% of its workforce over the past five years. While hospital turnover remains elevated overall, employee exits decreased in the later part of 2022, leading to a 3.2% annual decrease in hospital turnover. Overall, the survey covered 736,021 healthcare workers and 202,502 RNs. In total, 273 hospitals from 35 states reported data from January through December 2022. Nurse turnover in 2022įor the report, NSI Nursing Solutions in January asked more than 3,000 hospitals nationwide to participate in the "NSI National Health Care Retention & RN Staffing Survey," which covers healthcare turnover, retention initiatives, vacancy rates, recruitment metrics, and staffing shortages. While RN turnover rates decreased by nearly 5% in 2022, the average hospital lost between $6.6 million and $10.5 million due to RN turnover, according to a new report from NSI Nursing Solutions.
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