Revisiting Nurse Turnover Costs

A method to inflation adjust baseline nurse turnover costs using the Consumer Price Index is presented to gain current knowledge of organizational nurse turnover Costs when primary data collection is not practical and to determine costs and potential savings if nurse retention investments are made.

Abstract

Organizational knowledge of nurse turnover costs is important, but gathering these data frequently may not always be feasible in today's fast-paced and complex healthcare environment. The author presents a method to inflation adjust baseline nurse turnover costs using the Consumer Price Index. This approach allows nurse executives to gain current knowledge of organizational nurse turnover costs when primary data collection is not practical and to determine costs and potential savings if nurse retention investments are made.