Recent studies suggest nursing turnover will soon be on the rise. A pending retirement of Baby Boomers is expected to significantly deplete many health systems of their most skilled nurses. Additional research by The RN Work Project suggests that nursing turnover will similarly be a problem among newly credentialed nurses. According to researchers, in the first year, newly credentialed nurses will leave their jobs at a rate of 17.5%. By the second year, this rate will jump to 33.5%. How will health systems address the potential for growing nursing turnover? Trust a healthcare MSP to reduce your health system’s nursing turnover.
A Healthcare MSP: Your Solution to Nursing Turnover
With expected rising rates of nursing turnover, a healthcare– focused managed service provider (MSP) is your secret weapon. A healthcare MSP has many experts in contingent labor, compliance, and healthcare workforce solutions. These skills can provide the edge that a health system needs to combat nursing turnover. Consider the following ways in which a healthcare MSP can reduce nursing turnover:
- A healthcare MSP can optimize processes. In the RN Work Project’s study, the high rate of nursing turnover among newly credentialed nurses was largely attributed to job dissatisfaction. A large part of job dissatisfaction is frustration with fragmented or frustrating processes. A healthcare MSP has many skilled experts in healthcare workforce solutions. They are able to streamline processes which could cause frustration among nurses seeking to enhance patient care. A healthcare MSP partner can ease the burdens of nursing managers, freeing up their time to focus on what matters- patient care. Their onsite program management team can provide one central resource for nurses, easing nurses’ frustrations.
- A healthcare MSP can reduce workloads. Particularly when there are nursing shortages, nurses can feel overworked as they struggle to keep up with growing numbers of patients. A healthcare MSP partner can provide the support that nurses need by adding numbers to their team. They can do this in a number of ways- by adding contingent labor, travelling nurses, or converting contingent labor to full time employees. Because healthcare MSP’s are skilled workforce experts, they can also reduce nursing time to hire, placing nurses faster. The extra support that nurses gain can cause them to feel more satisfied with their job, reducing nursing turnover.
- A healthcare MSP can provide a more robust on-boarding process. Research shows that when workers are on-boarded well, workers feel more excited about their jobs, enhancing job satisfaction. This can work to significantly reduce nursing turnover. A healthcare MSP is able to provide a more robust on-boarding process, focusing on special training unique to the health system and ensuring access to helpful resources. Onsite program management teams further provide nurses with more immediate responses to concerns, enhancing satisfaction.
- Candidates are more closely matched using a healthcare MSP. Sometimes, nursing turnover is the result of dissatisfaction with the position. When nursing candidates are not closely matched with their expectations, job dissatisfaction can occur and they may leave for seemingly greener pastures. A healthcare MSP can offer a team of dedicated client services professionals working to screen candidates, check qualifications and compliance against the health system’s requirements. A vendor neutral MSP can bridge the gap between multiple staffing suppliers and hiring managers, providing that extra attention to detail that can increase job satisfaction.
As nursing turnover rates increase, health systems will need to turn their attention to enhancing job satisfaction with creative methods. They can do this by using a healthcare MSP as their partner. Contact RightSourcing today for a free workforce analysis and find out how you can reduce nursing turnover.