healthcare

Your Voice, Your Vote: Introducing the Healthcare Policy Navigator for Nurses

Goodwork author

Goodwork author

— 1 min read
Your Voice, Your Vote: Introducing the Healthcare Policy Navigator for Nurses

Current Turnover Rates and Financial Implications

According to the 2025 NSI National Health Care Retention & RN Staffing Report, the average turnover rate for staff RNs stands at 16.4%, with some hospitals experiencing rates as high as 36.4%. The average cost of replacing a single RN has risen to $61,110, marking an 8.6% increase from the previous year. This escalation translates to an average annual loss of $4.75 million per hospital due to RN turnover. 

For APPs, including nurse practitioners and physician assistants, turnover rates have also been significant. In 2024, the external turnover rate for APPs was reported at 11%, with internal turnover at 6%. The direct cost of turnover for an APP is estimated to exceed $120,000 per individual. 

Contributing Factors to High Turnover

Several factors contribute to the high turnover rates among RNs and APPs:

  • Workplace Stress and Burnout: High patient loads and extended working hours contribute to employee fatigue.
  • Lack of Professional Development: Limited opportunities for career advancement can lead to job dissatisfaction.
  • Inadequate Compensation: Competitive salaries are essential to retain skilled professionals.
  • Poor Management Practices: Lack of support from leadership can impact employee morale.

Strategies for Improvement

To address these challenges, healthcare organizations can implement the following strategies:

  • Enhanced Onboarding Programs: Comprehensive orientation processes help new hires integrate effectively into the organization.
  • Mentorship Opportunities: Pairing less experienced staff with seasoned professionals fosters knowledge sharing and support.
  • Competitive Compensation Packages: Regularly reviewing and adjusting salaries to match market rates can aid in retention.
  • Professional Development: Offering continuing education and clear career pathways encourages long-term commitment.
  • Supportive Work Environment: Cultivating a positive organizational culture enhances job satisfaction.

By implementing these strategies, healthcare institutions can work towards reducing turnover rates, thereby ensuring better patient care and financial health.

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