- CATEGORIES: Charu Raheja, PhD,Data and Research,Doctors and Hospitals,Nurses,Research,Research for Providers
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THE COST OF STAFF TURNOVER
All businesses need quality people in order to move forward, and finding and retaining them requires more than simply offering perks. Richard Branson, (entrepreneur and founder of Virgin Records, Virgin Airways, etc.) says “Foresight is important in business: Don’t wait until an employee comes to you and says he’s ready to leave before you start thinking about what his goals are and what keeps him happy – this should be part of your hiring decision.”
From small physician practices to large hospital systems, hiring and retaining quality staff can be a major challenge. In their 2013 National Healthcare & RN Retention Report, Nursing Solutions, Inc. indicated that the average cost of turnover for a bedside RN ranges from $36,000 to $48,000. This can result in an average loss of $3.74M – $4.98M annually per hospital.
CREATING A STABLE WORKFORCE
“It behooves us to have a stable nursing workforce that is committed and engaged,” said Marsha King, RN, Chief Nursing Officer at Saint Joseph Regional Medical Center. “It increases nurses’ satisfaction, patient satisfaction and clinical outcomes if you have a stable nursing staff that stays and know the policies and procedures. It’s also contributed to physician satisfaction.”
But, just how can you keep your staff happy and productive? While big-name companies are providing special employee perks, including such things as on-site haircuts, gyms, massages, daycare, luncheons, cocktail parties, and event travel allowances for vacation, research indicates that these are not necessarily the most powerful motivators for workers.
MOTIVATE YOUR STAFF TO STAY
Numerous employee surveys indicate that more than perks, or even money, staff members want to feel like they are a valuable part of a team, and be recognized for their contribution.
Employees need to feel ownership in where they work. Involve staff in brainstorming, planning, and implementation of new procedures and policies. This encourages a feeling of ownership, and most people don’t want their company to fail.
Empower Your Staff
“As your team members grow into their jobs, give them real responsibilities: They’ll respect you for it and do everything they can to rise to the challenge” says Branson. Employees don’t want to do the same thing over and over again, they need to be challenged, and given opportunities to grow. Failure to grow leads to staff boredom and burnout.
When staff members are left in the dark, rumors grow. Employees are adults and need to be treated as such. Keep them informed of the good, bad, and ugly that is occurring. And, create an open environment where they feel comfortable sharing what works and doesn’t. “Our philosophy is we don’t have all of the answers, so we surround ourselves with people who are the experts,” Says Leah Carpenter, RN, Chief Nursing Officer at Memorial Hospital in Miramar, Florida.
From your hiring, review, and promotion practices, to how your managers interact with employees, consistency is important. People do not like wishy-washy policies, or changing expectations. If you want a consistently performing employee, offer them a consistent work environment they can trust.
Reward Good Work
There are numerous ways to reward employees, and who doesn’t like an occasional free lunch, massage, or bonus? But what keeps people motivated and productive over time is feeling like an appreciated member of the team. A handwritten note of appreciation, recognition at a staff meeting, and, yes, occasional perks increase moral and build employee confidence.
Treat Me As A Person
“You have to become a ‘best place to work,’” said Gregory P. Smith, president and founder of the consulting firm Chart Your Course International. “It’s the little things we sometimes ignore that have more significant impact than pay and benefits on a person’s job satisfaction. It’s Treat Me As A Person.”
What inspires you to be a happy, productive member of your team? OR How do you attract and keep your team happy and productive? Share them with us in the comments section below or in our social media links.
Branson, R. (2013) Richard Branson on Keeping Your Most Valued Employees Happy. Entrepreneur Media, Inc. Retrieved Sept. 8, 2013 from http://entrepreneur.com/article/226504
NSI Nursing Solutions, Inc. 2013 National Healthcare & RN Report. Retrieved Sept. 8, 2013 from: http://www.nsinursingsolutions.com/Files/assets/library/retention-institute/NationalHealthcareRNRetentionReport2013.pdf
Strauss, K. (2013). 7 Ways To Keep Your Employees Happy (And Working Really Hard) Forbes.com. Retrieved Sept. 8, 2013 from: Strauss, K. (2013). How To Keep Employees Happy (And To Just Plain Keep Them) Forbes.com. Retrieved Sept. 8, 2013 from: http://www.forbes.com/sites/karstenstrauss/2013/05/31/how-to-keep-employees-happy-and-to-just-plain-keep-them/
_____________. How To Keep Employees Happy (And To Just Plain Keep Them) Forbes.com. Retrieved Sept. 8, 2013 from: http://www.forbes.com/sites/karstenstrauss/2013/05/31/how-to-keep-employees-happy-and-to-just-plain-keep-them/
Wood, D. (2008) What Makes Nurses Happy? NurseZone.com. Retrieved Sept. 8, 2013 from http://www.nursezone.com/nursing-news-events/more-news.aspx?id=18525