2022
DOI: 10.1097/naq.0000000000000522
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New Nurse Residency Programs

Abstract: The first 2 Finance Matters columns in Nursing Administration Quarterly focused on reading financial statements and building a business case. This column provides the reader with a case study for building a business case for a new nurse residency program. Using evidence and data to build your case is critical as you can see with this case study. It is important to address the return on investment clearly in your narrative to strengthen your case. Note that there are many templates for writing a business case, … Show more

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Cited by 7 publications
(9 citation statements)
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“…However, the fact that this study tracked turnover of newly licensed nurses over the course of three years based on whether they had turnover intention from the beginning of their first job provides stronger evidence that turnover intention is a powerful predictor of actual turnover of the nurses. At four to seven months after starting employment by a hospital, nurses are still in the transition period from being students to a new social status and environment (Knighten, 2022). In addition to the causes of turnover intention that have already been revealed through previous studies, including heavy workload, burnout, stress, and job dissatisfaction (De Simone et al., 2018; Kim & Moon, 2021), it is expected that this transition may contribute to turnover intention among newly licensed nurses.…”
Section: Discussionmentioning
confidence: 99%
See 1 more Smart Citation
“…However, the fact that this study tracked turnover of newly licensed nurses over the course of three years based on whether they had turnover intention from the beginning of their first job provides stronger evidence that turnover intention is a powerful predictor of actual turnover of the nurses. At four to seven months after starting employment by a hospital, nurses are still in the transition period from being students to a new social status and environment (Knighten, 2022). In addition to the causes of turnover intention that have already been revealed through previous studies, including heavy workload, burnout, stress, and job dissatisfaction (De Simone et al., 2018; Kim & Moon, 2021), it is expected that this transition may contribute to turnover intention among newly licensed nurses.…”
Section: Discussionmentioning
confidence: 99%
“…Before working independently in a hospital, newly trained nurses must go through courses, including orientation and preceptor training, that require significant cost and time (Dewanto & Wardhani, 2018; Knighten, 2022; Roche et al., 2015). Therefore, nurse turnover within three years causes a considerable financial loss to the hospital (Roche et al., 2015).…”
Section: Introductionmentioning
confidence: 99%
“…7 The cost of implementing a yearlong nurse residency program at one hospital was offset by more than 300% by reduced turnover. 7 However, examples of residency programs for NMs or ANMs are lacking. NMs are often selected without the relevant knowledge and skills for their positions and expected to learn through experience.…”
Section: Literature Reviewmentioning
confidence: 99%
“…The NPS is a customer loyalty metric that predicts the likelihood of a participant referring the course to a colleague. 10 Based on response to the question, participants are categorized as detractors (0-6), passives (7)(8), or promoters (9-10). The NPS is generated based on the proportions of detractors, passives, and promoters.…”
Section: Satisfactionmentioning
confidence: 99%
“…Think about your nurse residency program for new graduates. Evidence indicates that these programs significantly decrease first-year turnover and yield as much as a 300% return on investment (ROI; Knighten, 2022). If your nurse residency program is decreasing turnover, you’re saving your organization money that far exceeds the cost of providing the program.…”
mentioning
confidence: 99%