#MillenniumLive , CIO , Healthcare , Millennium Staff
Contributed by Avantas
Turnover by the Numbers: Cause for Concern
Turnover data is important for establishing analytical benchmarks. Consistent, detailed statistics are limited. AMN maintains active surveillance on turnover and has assembled an array of data points that together illuminate today’s situation.
A workforce turnover survey of 226 hospitals pegged the 2020 rate at 19.5%, up 1.7 points from the prior year and the highest rate recorded over the past five. Responses ranged from 3% to 43%. All but 6% of the turnover was voluntary. Organizations with 200-349 beds experienced the largest percentage.
Churn at the top has remained fairly consistent for several years. A leading study placed hospital CEO turnover at 16% for 2020.2 While that is an encouraging drop from 17% in 2019, itself a decline from 18% in prior years, the level remains elevated. Extended across the survey’s base of almost 4,400 hospitals, the current turnover represents a substantial 700 CEO departures. It is worth noting that healthcare is no outlier in this regard. A 2018 cross-industry study of 2,500 global companies found a CEO turnover rate of 17.5%.
Healthcare Working Smarter
Healthcare labor management is not easy. Healthcare is not an assembly line, and one solution does not fit all. Getting the right person to the right place at the right time to care for patients is a huge responsibility, and doing it correctly, at the right cost, is a science. We’ve been helping provider organizations do this – and only this – for more than 20 years. We get it. And, we’ve been successful in applying what we’ve learned along the way to help others solve the same challenges. We’d like to share this with you.
We will help you reduce the chaos, unnecessary expense, and stress typically associated with staffing and scheduling in healthcare. We will partner to help you solve immediate challenges, like excessive overtime, then grow with you, when you are ready, to deploy more advanced strategies and tools to better manage your staff. Go here for more information.
Reach thousands of C-Level
Executives every month.
Do you have content that you feel will
resonate with our audience? We'd love to
welcome you as a guest contributor!
Premium content to our readers
interested in all things business.
Millennium Membership offers Fortune 1000 C-Level executives, leading public sector/government officials, and thought leaders across a variety of disciplines unique and exclusive opportunities to meet their peers, understand industry developments, and receive introductions to new technology and service advancements to help grow their career and overall company value.About Millenium Alliance
Launched in 2017, Digital Diary was created to provide premium content to our members interested in executive education and business transformation. With C-Suite executive and top academic contributors, interviews with industry leaders, and digital transformation insights from technology experts, Digital Diary has all of the professional development tools you need to stay ahead of the curve.
We are dedicated to distributing meaningful opportunities for our reader to increase their personal knowledge, simplify business initiatives, and to have the right information to build their capabilities and leadership skills at every level.
In the midst of disruption across all industries, our members are given the tools they need to digitally transform their organizations.
Joining Mill All is an opportunity unlike any other to connect with the best professionals in your industry and be a part of a community to become the best leader you can be.
500 Companies Attend Each Year