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The shocking cost of turnover in health care
J Deane Waldman1, Frank Kelly, Sanjeev Arora
1Health Sciences Center, Anderson Schools of Management, University of New Mexico, Albuquerque, NM, USA. Dwaldman@salud.unm.edu
Abstract:
Review of turnover costs at a major medical center helps health care managers gain insights about the magnitude and determinants of this managerial challenge and assess the implications for organizational effectiveness. Here, turnover includes hiring, training, and productivity loss costs. Minimum cost of turnover represented a loss of >5 percent of the total annual operating budget.
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