The Hidden Cost of Healthcare Turnover

Replacing a nurse can cost your organization as much as $70,000.

This is the challenge the Canadian healthcare system is dealing with right now.

But the true cost is beyond just money.

When experienced healthcare professionals leave, they take away:

• Years of institutional knowledge
• Established patient relationships
• Team chemistry that took months to build
• Critical insights about your organization's unique challenges

The impact is real. Staff who remain often must take on more work, which can lead to burnout and cause even more people to leave.

Patient care also suffers when teams are constantly changing.

New hires need extensive training, which takes senior staff away from caring for patients.

Breaking this cycle requires focusing less on filling positions quickly and more on finding candidates who truly fit your culture.

It's not just about hiring faster. It's about hiring the right way.

The most successful healthcare leaders we partner with have one thing in common: they understand that success begins with strategic hiring. Such leaders take time upfront to find candidates who match their mission, values, and team culture.

At Riverbanks, we've helped organizations reduce turnover by up to 15% by focusing on both cultural fit and clinical skills during the hiring process.

Contact our team to discuss strategic hiring practices that can strengthen your team for the long term.