These policies can yield positive benefits, but
monetizing the return on investment is challenging.
We know that turnover rates are sensitive to human
resources policies, including tuition reimbursement
and career-ladder programs that provide growth
opportunities.3 There is evidence that organizations
that earn the Magnet Recognition Program credential
for nursing excellence have lower turnover rates
among nurses and thus have improved clinical
outcomes.4 In Magnet-designated organizations,
chief nursing officers and 75% of nurse managers
are required to have a BSN degree or higher.5 An
important consideration for employers is that education
progression policies may yield savings that result
from lower nurse turnover and vacancies, estimated
to cost from $22,000 to $64,000 per position.6