Voluntary Employee Turnover: A Literature Review and Evidence-Based, User-Centered Strategies to Improve Retention

Area of Science:

• Healthcare Management
• Organizational Psychology
• Human Resources

Background:

• Employee retention is a significant concern in the healthcare sector.
• High employee turnover incurs substantial financial costs, estimated at $4.3 billion annually in the US due to physician burnout.
• Understanding the drivers of turnover is essential for developing effective retention strategies.

Purpose of the Study:

• To examine the business case for employee retention.
• To identify reasons for employee turnover.
• To outline strategies for retaining employees, focusing on burnout and disengagement.

Main Methods:

• Literature review on employee retention and burnout.
• Analysis of factors contributing to employee turnover.
• Synthesis of retention strategies aligned with burnout and disengagement mitigation.

Main Results:

• The financial benefits of employee retention over recruitment are well-documented.
• Physician burnout is a major driver of costly employee turnover.
• Retention strategies can effectively address burnout and disengagement.

Conclusions:

• Implementing targeted retention strategies is financially prudent.
• Addressing employee burnout and disengagement is key to improving retention.
• Proactive measures can reduce turnover costs and enhance organizational stability.