cost to train a new grad

Im trying to research the costs of hiring a new grad. Can anyone shoot me some anonymous numbers of what you have heard the cost to train a new grad is at your facility? I've tried contacting local hospitals but this type of financial information seems to be either not on hand or deemed private.

I've heard 50,000 tossed around if you include the preceptor's salary, nurse education, and training classes...amongst other things.

And just for fun (read: not assignment related) what do you think about the cost? Has it always been this way? What do you think about the problem with new grads bailing after their two years is up? I can definitely understand why new grads are having difficulty acquiring jobs when we cost so much and have been found to be unreliable retention-wise in the past.

Thanks for the help if you can.
I don't know the answer to your question but at our facility we are employing a program called Versant RN Residency. The goal is to improve new grad retention rates as well as ease the entry of new grads into nursing, all units. Their website, www.versant.org, might have the monetary stats you're looking for.

thats a great idea. I am looking into it. Thank you : )

The costs will vary by employer in how extensive a program they have for new grads, or any new hire for that matter. Some employers have a short preceptor program while others a long internship. You might try finding out what the specifics of the program are from the HR or nursing department. For example the length of time, is there a preceptor for you to work with, are their classroom time involved, etc.and then try costing out the cost of the program from any financial data you have. I would not include the cost of a nurse recruiter as those costs are typically spread out among all hires. FYI just remember that the least expensive nurse is the one already employed so that retention should be emphasized in any institution.

According to various articles, costs for training a new grad vary between 15,000-50,000.http://www.nursingcenter.com/Library...icle_ID=818387I consider a new grad leaving after 2 years a patient safety problem because 2 years is not enough time to become an expert in a specialty area. It is enough time to become an advanced beginner and function independently but there is still a reliance on advice from the more experienced nurses. If the new grads work at a facility until they become advanced beginners and then leaves. This type of cycle puts too much responsibility on the expert nurse and can lead to mistakes.

Quote from maggioflioreAnd just for fun (read: not assignment related) what do you think about the cost? Has it always been this way? What do you think about the problem with new grads bailing after their two years is up? I can definitely understand why new grads are having difficulty acquiring jobs when we cost so much and have been found to be unreliable retention-wise in the past.

Quote from elkparkIt makes perfect sense to me that hospitals are balking at the idea of hiring new grads (at the standard RN pay rate) and then having to teach them practically everything they need to know to get through a shift. I don't think that's going to change any time soon. IMHO, we've really gone off the rails in nursing education (and I say that having taught in both ADN and BSN programs).

thanks everyone for your input some things we discovered include:-nurse's cost 44% of a hospital's budgetaccording to a study by Bea Chiang (2009)-the cost to pay for the one year of nurse's salaries to staff one ICU floor at a level II trauma center was 9.2 million dollars -a new grad costs about 20,000 to train in southern californiathanks again

Quote from dishesAccording to various articles, costs for training a new grad vary between 15,000-50,000.http://www.nursingcenter.com/Library...icle_ID=818387I consider a new grad leaving after 2 years a patient safety problem because 2 years is not enough time to become an expert in a specialty area. It is enough time to become an advanced beginner and function independently but there is still a reliance on advice from the more experienced nurses. If the new grads work at a facility until they become advanced beginners and then leaves. This type of cycle puts too much responsibility on the expert nurse and can lead to mistakes.

The cost really depends on where you are and what specialty you're training in. For example, at my facility new grad floor nurses get about 3 months orientation. This includes a a week to 10 days of classroom, approx 2 months highly supervised, and a final month where you are monitored less closely before being turned out on your own with a full number of patients. This costs around $15,000 - $20,000. However, the OR orientation is a full 6 months. The first month is spent in a classroom, followed by 5 months of one-on-one mentoring. You are never really left alone for the first 6 months. The cost for this program is around $25,000 - $30,000 total. The ICU program is 3-4 months long, and you can figure out the approximate cost of that based on the two others. Be careful in your report to compare apples with apples! Good luck. It's an interesting topic.PS: as for why people leave after their commitment, because their base pay as a new grad/intern is generally low, and unless they get a relatively steep pay increase at the end of their two-year contract they can almost always get paid more as an "experienced" nurse some place else. I'm not saying I agree with this, but I hear it time after time as being the reason new grads leave after their contracted period, so take it for what it is.

Quote from elkparkIt has certainly not "always" been this way. Until comparatively recently (the last 20-25 years or so?), nursing schools (esp. the hospital-based diploma schools) turned out new graduates who were prepared to function as (entry-level) RNs and did not require extensive orientation. The idea of a 6- month (or longer) "internship" for new graduates would have been incomprehensible, because there was no need for such a thing -- but I see so many posts here from new grads who expect to be offered a program like that and feel like they're being mistreated if they aren't. I'm also pretty horrified at how much conversation I see here (and encounter elsewhere in nursing) that takes for granted that one graduates from nursing school knowing v. little about nursing and one "really" learns what one needs to know on the job. It makes perfect sense to me that hospitals are balking at the idea of hiring new grads (at the standard RN pay rate) and then having to teach them practically everything they need to know to get through a shift. I don't think that's going to change any time soon. IMHO, we've really gone off the rails in nursing education (and I say that having taught in both ADN and BSN programs).

So my 2 year contract is up, and I'm looking for something better. Ideally after finishing my med/surg-tele contract I'd like to go into a critical care internship - because I have more to learn. If not that, then I need to go somewhere as an 'experienced' nurse for better money, seriously having problems making ends meet. Oh, and my manager was insulting when I was told to be happy with my raise, at least I got one effective for the whole year. Another coworker was told we'd rather have mediocre nurses with great attitudes.

Quote from elkparkIt has certainly not "always" been this way. Until comparatively recently (the last 20-25 years or so?), nursing schools (esp. the hospital-based diploma schools) turned out new graduates who were prepared to function as (entry-level) RNs and did not require extensive orientation. The idea of a 6- month (or longer) "internship" for new graduates would have been incomprehensible, because there was no need for such a thing -- but I see so many posts here from new grads who expect to be offered a program like that and feel like they're being mistreated if they aren't. I'm also pretty horrified at how much conversation I see here (and encounter elsewhere in nursing) that takes for granted that one graduates from nursing school knowing v. little about nursing and one "really" learns what one needs to know on the job. It makes perfect sense to me that hospitals are balking at the idea of hiring new grads (at the standard RN pay rate) and then having to teach them practically everything they need to know to get through a shift. I don't think that's going to change any time soon. IMHO, we've really gone off the rails in nursing education (and I say that having taught in both ADN and BSN programs).