Happy National Nurses Month! Over the last few years we’ve seen unprecedented changes to most industries, but the healthcare industry has been hit hardest. Our healthcare employees have worked tirelessly through fear and uncertainty, putting their own health at risk to save lives and keep our country afloat.
And it’s no surprise that we’re seeing a retention crisis in healthcare – workers are exhausted and burnt out after years of challenging working conditions.
Hospitals saw alarming turnover rates during the pandemic, and these decreased only slightly to 22.7% in 2022. And turnover presents a huge cost to hospitals when budgets are already tight, with one study finding the average cost to replace a bedside RN at $52,350. Rather than scrambling to find the funds for new hires, turn your attention to keeping the talent you already have – what strategies can you put in place to make your people want to stay?
Improving retention and standing out as an employer of choice takes time, but one of the first steps is to focus on building a culture where employees feel valued and seen. Recognition plays a huge role in attracting and retaining your people, with our research revealing that 72% of healthcare employees looking to quit their jobs would stay for more recognition and reward.
May is the perfect time to show a little extra appreciation for our healthcare workers, especially our nurses, and remind them how much you value them. To help you get started, we’ve pulled together a resource hub full of tips and tricks for recognizing and rewarding your nurses and frontline employees no matter where you are in your recognition journey. Dive in to learn how you can start building a company culture where people want to show up to work every day, and start celebrating your people all year long.