If you’ve hired a newly-licensed RN, there’s a 1 in 5 chance they’ll leave within their first year on the job, according to a study by the RN Work Project. If they make it past the first year, you’re facing 1 in 3 odds that they’ll leave before completion of their second year of employment. By the 8th year on the job, only 40% of newly-licensed nurses will still be working for your facility. These are just some of the study results of the RN Work Project, through funding from the Robert Wood Johnson Foundation, to study the career path of newly-licensed registered nurses. The study began in 2006 to survey new nurses and track their career trajectory. The study ends in 2015. The goal is to understand the reasons behind nurse turnover so that healthcare providers can improve recruitment and retention strategies. Cost of nurse turnover The Cost of Nurse Turnover Registered Nurses play a pivotal role in the profitability of healthcare facilities. The financial cost for the turnover of each nurse is estimated to be twice their annual salary. For each percentage increase in nurse turnover, hospitals are estimated to lose $300,000 in profit. To give [+]

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