Being Really Strategic: Integrating Talent and Business Performance May 21, 2009 |
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Nursing is a nationwide critical talent shortage. A concerted effort to link effective leadership with incentive compensation resulted in stunning results for North Shore LIJ’s nursing talent. Turnover of their new nurses dropped two quartiles. And supporting measures report NSLIJ Health System’s RN turnover rate is lower than the NYS, NYC and Long Island area by 2.6%- 5.8%; their RN vacancy rate now falls below the NYC/Long Island region by nearly 2%. Retaining nursing talent resulted in reduced advertising and agency expense to replace nursing talent, saving $6.8 million for this health care system. And clearly retaining critical nursing talent goes a long way to maintaining improved patient satisfaction scores. 7 of 12
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