The shocking cost of turnover in health care.
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.
Waldman
J Deane
JD
Health Sciences Center, Anderson Schools of Management, University of New Mexico, Albuquerque, NM, USA. Dwaldman@salud.unm.edu
Kelly
Frank
F
Arora
Sanjeev
S
Smith
Howard L
HL
D000046:Academic Medical Centers / Q000191:economics; D000488:Allied Health Personnel / Q000600:supply & distribution; D017598:Efficiency, Organizational / Q000191:economics; D005180:Faculty, Medical / Q000600:supply & distribution; D017721:Hospital Costs / Q000145:classification / Q000706:statistics & numerical data*; D006801:Humans; D007318:Inservice Training / Q000191:economics; D008505:Medical Staff, Hospital / Q000600:supply & distribution; D009741:Nursing Staff, Hospital / Q000600:supply & distribution; D019982:Organizational Case Studies; D010560:Personnel Selection / Q000191:economics; D010563:Personnel Turnover / Q000191:economics*; D010564:Personnel, Hospital / Q000145:classification / Q000600:supply & distribution*; D012456:Salaries and Fringe Benefits; D015206:Southwestern United States; D000078329:Workforce