Healthcare Recognition to Empower Your Nurses
Healthcare professionals like nurses, doctors, and hospital staff hold one of the most crucial roles in their communities around the globe. To attain elevated patient satisfaction scores, hospitals and healthcare providers must ensure their staff is not only well-trained, but also deeply engaged and duly acknowledged for their unwavering commitment to positive patient outcomes. Forbes reports that “54% of managers believe staff departures are frequently attributed to a lack of recognition.” In the realm of healthcare, retaining top-tier talent is paramount to the ongoing success of any hospital and effective caregiver recognition can help.
Cost of Healthcare Turnover
Healthcare, however, has a turnover problem, with more than 40% of physicians and 21% of other healthcare workers turning over. This equates to about $22,000 per nurse, or an average between $3.6mm to $6.5mm per hospital per year. These are only the direct costs. Additional opportunity costs include a decrease in work-learning, an increase in job demand, a decrease in motivation- all correlated to decreased engagement and burnout which negatively impact the employee experience. This means that it’s imperative for hospitals and healthcare providers to retain and engage workers, recognize positive actions and behaviors, and spread recognition as a culture to compete in a competitive talent pool.
Healthcare Recognition to Build Resilient Teams
In addition to reducing costly turnover, there are a myriad of other ways a recognition and reward solution helps drive a better caregiver experience. They can include:
Often working in high-stress and demanding environments, rewarding hard work and dedication can boost morale, motivation, and job satisfaction.
Align your values and multiple recognition streams in one centralized and meaningful program that is branded to your unique standards.
Compete in a competitive talent pool by reinforcing positive behaviors, incentivizing positive interactions, and having some social fun.
Reward and incentivize meaningful behaviors, important training, and other high standards to provide the highest quality care.
Caregivers and hospital workers who feel appreciated and recognized are more likely to provide compassionate and patient-centered care.
When healthcare professionals leave their current position or leave the medical field entirely, the fallout can be both financially costly and disruptive to medical services.
Elevate your hospital and patient experience today.
USC Price School of Public Policy, Turnover in Healthcare: Why Worker Satisfaction Matters 1
Supplemental Health Care, The Real Cost of Turnover in Healthcare Staffing 2