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Brief

5 Ways to Improve New Hire Engagement and Retention

Successful healthcare organizations know that retention is key to not only improving patient safety and satisfaction but reducing costs. Turnover is expensive: on average, it costs more than $62,000 to replace one RN. Yet even the most powerful retention strategies—professional development, meaningful feedback, goal setting—are often deployed too late in today’s competitive healthcare environment. More frequently, vulnerable new hires are wooed by competing organizations offering bonuses or additional benefits. A smart, effective retention strategy begins before a new hire even steps foot in your organization. According to Katherine Jones, vice president, HCM Technology Research, at Bersin by Deloitte, “An employee is unlikely to ever be more engaged than on the day she or he accepts a job.” How can your organization improve new hire engagement and retention? Consider these five tactics:Successful healthcare organizations know that retention is key to not only improving patient safety and satisfaction but reducing costs. Turnover is expensive: on average, it costs more than $62,000 to replace one RN. Yet even the most powerful retention strategies—professional development, meaningful feedback, goal setting—are often deployed too late in today’s competitive healthcare environment. More frequently, vulnerable new hires are wooed by competing organizations offering bonuses or additional benefits. A smart, effective retention strategy begins before a new hire even steps foot in your organization. According to Katherine Jones, vice president, HCM Technology Research, at Bersin by Deloitte, “An employee is unlikely to ever be more engaged than on the day she or he accepts a job.” How can your organization improve new hire engagement and retention? Consider these five tactics:

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