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Why 2017-09-17T17:31:10+00:00

WHY?

Because more than ever hospitals are under pressure to achieve the goals of the triple aim

Transformation

The state of transformation in healthcare today is driving unprecedented attention to the dynamics of the healthcare workforce. With an RN vacancy rate of over 8% across organizations nationally, and RN turnover exceeding 15% annually, extensive efforts are underway in health systems today to ramp up retention efforts, improve the employee value proposition, and retain highly-qualified talent.

Employee Engagement

Employee engagement is a key indicator of employees’ involvement and dedication to the organization. Employees who are engaged are more productive, content and more likely to be loyal to an organization. On the flip-side, disengaged employees can be damaging to an organization. Research demonstrates that 30% of nurses report that they “feel like quitting.”

Cost

The cost of this level of turnover can have a profound impact on the already diminishing hospital margin. The average hospital loses $5.13M – $7.86M annually due to turnover. Conversely, healthcare organizations have an opportunity to improve retention through engagement and drive dramatic financial results. For instance, each percent improvement in RN turnover will save the average hospital an additional $410,500.

Bottom-line

Strengthening the bottom-line while stretching top-line growth is a strategic imperative in almost all health systems, and one that is heavily dependent on effective workforce performance and sustainability. OrendX is an easy, fun, and relevant mechanism to foster employee engagement and drive connectedness and loyalty to the organization.