The Return on Investment from Outsourcing Nurse Recruitment
The high cost of agency nurses is no surprise to anyone. But with the sizable staff shortages
that many hospitals are facing, how can a financial decision be made to do something different?
Start by calculating ROI from outsourcing nurse recruitment to RSI OnSite.
Assumptions
1. Vacant RN positions: _______
2. Agency nurses being used: _______
Goals
3. Goal to hire ______ RNs in coming year
4. Goal to eliminate ______ agency nurse FTEs in coming year
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Costs
5. Total agency costs per year
6. Overtime ______ % on staff of ______ nurses
7. Incentive bonuses
8. Current recruitment staff cost
9. Staffing office cost
10. RN turnover cost
11. Nursing management turnover cost
12. Lost revenue due to staff shortage
13. Estimated cost of _______ vacancies (add lines 5 – 12)
14. Number of nurses you need RSI to recruit: ______
15. The average RSI placement fee: $7,900/nurse recruit
16. Total cost of outsourced recruitment (line 14 x line 15)
Savings
17. Reduction in agency expenditures – Year 1 (line 13 less line 16)
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$______
$______
$______
$______
$______
$______
$______
$______
$______
$______
$______
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What Our Clients Are Saying:
“Our vacancy rate was 28% in January and by year-end, it significantly decreased to 10%.
This is a direct reflection of RSI OnSite’s contribution to our organization.”
“One of the best financial decisions I have made since becoming Chief Nursing Officer is contracting out recruitment services to RSI OnSite.”
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RSI OnSite
