Milestones Program
The Challenge:
- Retention in the first year of service is less than 50%.
- On average, specialty hospitals experience a rolling 12mo turnover rate of ~33%.
- The cost to replace a resource is ~$40K
- Yearly expenditure for workforce replacement is ~$92M
The Solution:
Implement and pilot a monetary rewards tied to key time-based milestones achieved during an employee’s tenure
Reward employees within the first 3 years of employment for reaching time-based milestones
Celebrate employees who stay with the hospital greater than 3 years and show recognition for their loyalty
Objectives:
- Retain staff at the early stages of their tenure at ScionHealth
- Recognize and appreciate more tenured employees for their service
Success Measures:
-
- Reduction in turnover rates
- Decrease number of open positions
- Employment status conversions from PRN to full time
| Behavior | Attainment Criteria | Points Earned | Reward Options |
| Maintain active, full-time employment with the company | Stay employed through predetermined periods of time |
Year 1
Year 2
Year 3
4+ years:
|
Hourly bonus differential or Various Gift Cards |
Who's eligible?
All non-exempt, hospital-based full-time (FT) RNs/LPNs/LVNs/CNAs/RTs/MTs /MLTs are eligible to participate
This program is not applicable to PT, PRN, PRN+, seasonal or per diem pool employees.
How are the milestones determined?
Milestones are based off an employee's start date with the company
FAQ:
The Milestone program starts July 1st and my employment start date was in January How many points will I earn?
Since your start date was 6 months ago in January, you will earn the points associated with a 6-month milestone, this means you will receive 5,000 points at the onset of the program in July. You will continue to earn points as you reach further milestones in the program.