Career coaches for nursing: a strategy for increasing your ROI

Area of Science:

• Healthcare Management
• Human Resources in Nursing
• Organizational Psychology

Background:

• Nursing staff turnover is a significant challenge in healthcare organizations.
• High turnover rates lead to increased costs and impact patient care.
• Innovative retention strategies are needed to support nursing professionals.

Purpose of the Study:

• To evaluate the impact of a novel Career Coaches for Nursing program.
• To assess the program's effectiveness in improving employee retention.
• To determine the return on investment (ROI) of the coaching initiative.

Main Methods:

• Implementation of a career coaching program for nursing staff.
• Tracking of nursing staff turnover rates over a 2-year period.
• Analysis of cost savings associated with improved employee retention.

Main Results:

• The Career Coaches for Nursing program was successfully launched.
• Challenges and areas for improvement were identified during the start-up phase.
• A significant decrease in nursing staff turnover was observed.
• Positive cost savings were realized due to enhanced employee retention.

Conclusions:

• The Career Coaches for Nursing program proved effective in reducing turnover.
• The initiative yielded a positive return on investment within the first two years.
• Career coaching is a valuable strategy for improving nursing staff retention and organizational efficiency.