Replacing a valued health care employee can cost up to 250 percent of the employee’s salary when you figure in downtime from the loss of productivity, remaining staff picking up additional work, buy-out of vacation days, and recruiting fees, according to Steven Bennett, vice president at recruiting firm Kirby Partners, which specializes in health information technology hiring.
“When you lose a nurse that has been in I.T. for 10 years and knows everything, you soon learn the degree of the loss,” he notes. An information technology project with millions of dollars in investments can be put at risk when an important member of the team leaves, adds Timothy Stettheimer, Ph.D., regional CIO for Ascension Health and senior vice president/CIO at St. Vincent’s Health System in Birmingham, Ala.
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