Revisiting nurse turnover costs: adjusting for inflation.
Organizational knowledge of nurse turnover costs is important, but gathering these data frequently may not always be feasible in today's fast-paced and complex healthcare environment. The author presents a method to inflation adjust baseline nurse turnover costs using the Consumer Price Index. This approach allows nurse executives to gain current knowledge of organizational nurse turnover costs when primary data collection is not practical and to determine costs and potential savings if nurse retention investments are made.
D000329:Advertising / Q000191:economics; D017046:Cost Savings; D003625:Data Collection; D003627:Data Interpretation, Statistical; D004467:Economics; D004509:Education, Nursing, Continuing / Q000191:economics; D017598:Efficiency, Organizational; D004651:Employment / Q000191:economics; D005377:Financial Management, Hospital; D006742:Hospital Bed Capacity / Q000191:economics; D006801:Humans; D007250:Inflation, Economic / Q000706:statistics & numerical data*; D020380:Needs Assessment; D009718:Nurse Administrators; D015401:Nursing Administration Research / Q000379:methods*; D009741:Nursing Staff, Hospital / Q000191:economics* / Q000193:education / Q000600:supply & distribution; D010560:Personnel Selection / Q000191:economics; D010563:Personnel Turnover / Q000191:economics*; D012111:Residence Characteristics / Q000706:statistics & numerical data; D012189:Retrospective Studies; D012456:Salaries and Fringe Benefits / Q000191:economics