What Healthcare Companies Can Do Today To Help Curb Turnover Among Registered Nurses

Nurses are the backbone of the healthcare industry. They are truly our frontline heroes. Research shows that investing in nursing saves lives, but nursing shortages and high turnover continue to be a looming issue for the industry and a major concern for our communities. A study by Kaufman Hall indicates that 66% of healthcare facilities are not able to operate at full capacity due to staffing shortages.

The national registered nurse (RN) turnover rate is over 16%, while approximately 50% of new nurses quit within their first two years of service. Stress and burnout are among the top drivers of their turnover, and the cost to replace those nurses continues to rise.

The 2025 NSI National Health Care Retention & RN Staffing Report paints an alarming picture as it relates to the expense of turnover among RNs. The average cost of turnover for a staff RN increased by 8.6% in the past year to $61,110. This is up from the average cost of turnover for an RN in 2023, which was $56,300. This type of financial burden can be back-breaking for the healthcare system. 

With stress being cited as one of the leading causes of burnout, healthcare companies have an opportunity to support their employees with benefits that can make a significant difference in their day-to-day lives. In particular, benefits that will help alleviate their financial stress. 

Research conducted by Harris Poll and DailyPay shows that the majority (57%) of healthcare workers in the U.S. feel stressed about the state of their finances. Nearly half (49%) find it challenging to pay bills on time, and over 1 in 3 (34%) say they ran out of money between paychecks in the past year. In fact, 1 in 4 (25%) say they were unable to pay a bill in the past year. 

With inflation still stubbornly high, the daily challenge to pay bills on time and make ends meet is only increasing. 

One benefit that has been proven to help workers pay bills on time is On-Demand Pay. With the financial wellness benefit offered by an employer, employees can access their earned pay to pay bills on time. The majority (82%) of healthcare workers in the U.S. say it would be helpful to be paid more frequently than twice per month. Nearly half (48%) say that on-demand pay (also known as earned wage access) would help them balance their personal finances. 

A recent article in Medscape Medical News noted that many nurses are taking additional gig jobs to help supplement their income. One of the tangible benefits of driving a rideshare and delivering food is the ability to get paid on the same day. Healthcare companies now have the opportunity to mirror that experience by offering On-Demand Pay as a benefit of their own. This flexibility empowers them to take control over their finances, helping to curb financial stress. 

One of the enduring lessons we learned from the global COVID pandemic is the vital role nurses play in keeping communities safe. We cheered outside our windows each night to salute their bravery in the darkest of moments. Five years later, many are leaving the profession with financial stress being a major culprit. We must do what we can to arm them with the tools to alleviate that stress so they can focus on what they do best. 

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