HR Advisory Group stated that the Wisconsin nurse residency program has boosted retention rates! "
To better prepare the region’s new nurses to practice, 40 Wisconsin hospitals have collaborated with Milwaukee-based Marquette University to develop a nurse residency program, the Milwaukee Journal Sentinel reports. Through the Wisconsin Nurse Residency Program, which is funded by $2 million in federal grants, new nurses are paired with mentors who answer questions about daily work and help create professional development plans; the program also organizes monthly meetings for new nurses to receive specialized training and share experiences. Thus far, the program touts a retention rate of 90% for new nurses, compared with the 50% of novice nurses nationally who quit within their first two years. Some nursing supervisors, for instance, note that, after just one year on the job on the job, nurses in the program function at the level of second- or third-year nurses. Noting that hospitals spend approximately $65,000 to replace just one nurse, the program’s director states that the roughly $52,000 it costs to annually operate the residency program for 10 nurses can be recouped if it prevents just one in 10 nurses from quitting (Dresang, Sentinel, 10/14/07). For more information about how hospitals can develop nurse residency programs, Nursing Executive Center members can see the 2006 practice brief, Transitioning New Graduates to Hospital Practice: Profiles of Nurse Residency Program Exemplars. "