SAN DIEGO, April 16, 2019 /PRNewswire/ -- Artificial intelligence (AI) is a core solution for the current tight labor market for nurses and is especially tailored to the trends seen in the younger generation of workers, who tend to interact in the job market using technology, David Leonard, senior vice president of growth for Arena, told attendees at the American Organization of Nurse Executives' annual conference here last week.
RN turnover has been growing annually, reaching nearly 19% in 2018. Twenty-four percent of nurses leave in the first year of employment. And then there are the Millennials, who make up half of new staff at hospitals and are notoriously less loyal to organizations.
Arena uses AI and an online assessment to predict which employees are most likely to be a good fit for a hospital or other healthcare organization. It incorporates traditional resumes and interview assessments along with algorithms based on prior experiences of successful hires at an organization and like organizations to identify candidates who are best positioned to succeed. Through machine learning, the algorithms adjust in real time to new information and conditions.
Millennials are actually one source of optimism, as they are so attuned to interacting online, which fits well into Arena's model. Another source of hope, Leonard said, is a Gallup survey of U.S. businesses, which found that 52% of employees who leave say their managers could have done or said something to prevent their exit.
Arena's work with leading health systems is finding that AI lowers first year turnover by 27%, while placing the right nurses in the right setting with the right managers and positions, improving nurse engagement by 38%.
In addition, by targeting and nurturing job candidates like consumers, there is a huge increase in qualified nurse candidates for open positions. One five-hospital health system used Arena to increase its initial application pool for emergency department nurses from 18 to 188.
"The labor market and technology are forcing us to change how we find, hire and manage talent," Leonard told the AONE audience. "AI presents the opportunity to take advantage of these changes and become more efficient, accurate and adaptable."
Hundreds of organizations across the country, including Mount Sinai Health System in New York, RWJBarnabas Health in New Jersey, Regional One Health in Memphis and MultiCare Health System in the Pacific Northwest are using Arena to lower staff turnover and optimize the hiring process, he said.
Arena collects, analyzes and incorporates robust data to predict a given applicant's likelihood to succeed in a particular healthcare organizations' culture. Instead of individual judgments and hypotheses, Arena develops and applies models that align most closely with the everyday realities on which a prosperous and pleasant work culture depends. Its proven solutions lower turnover at client institutions, resulting in better care and higher patient satisfaction. For more go to www.arena.io.