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You need to enable JavaScript to run this app. 0 Nurse Manager Succession Planning Cost Benefit Analysis Nurse Manager Succession Planning Cost Benefit Analysis 0 Succession-planning should be implemented. Succession-planning should be implemented. 0 0 must be supported by senior nurse executives to be successful. must be supported by senior nurse executives to be successful. iconmissing References Phillips, T., Evans, J. L., Tooley, S., & Shirey, M. R. (2018). Nurse manager succession planning: A cost-benefit analysis. Journal of Nursing Management, 26(2), 238–243. https://doi.org/10.1111/jonm.12512 References Phillips, T., Evans, J. L., Tooley, S., & Shirey, M. R. (2018). Nurse manager succession planning: A cost-benefit analysis. Journal of Nursing Management, 26(2), 238–243. https://doi.org/10.1111/jonm.12512 Succession Plans Succession Plans Final Recommendation Final Recommendation * Manage one or more hospital units * Influence morale, turnover, & patient safety * Advocates for patients and nurses Manage one or more hospital units Influence morale, turnover, & patient safety Advocates for patients and nurses * Replacement costs 75% to 125% of NM salary * Can impact service continuity * Can decrease leadership stability Replacement costs 75% to 125% of NM salary Can impact service continuity Can decrease leadership stability * Monthly 8-hour workshops for one year * Monthly 4-hour meeting with a mentor for one year Monthly 8-hour workshops for one year Monthly 4-hour meeting with a mentor for one year * 2.5 = positive benefit cost ratio 2.5 = positive benefit cost ratio * 64% were promoted to leadership positions * Stronger talent pool * Increased retention * Decreased recruitment cost * Positive return of investment 64% were promoted to leadership positions Stronger talent pool Increased retention Decreased recruitment cost Positive return of investment The Nurse Manager's Role The Nurse Manager's Role Nurse Manager Turnover Nurse Manager Turnover Leadership Training Leadership Training Analysis Analysis Results Results * Reduces NM turnover rates * Reduces vacancy costs * Increases organization retention Reduces NM turnover rates Reduces vacancy costs Increases organization retention Internal Promotion Internal Promotion Lauren K. Young Lauren K. Young Created by Lauren Y Report Copyright 2024 Venngage Inc DMCA Policy Go to My Designs of 1