Employee Retention Strategies for Executive Operation Leaders in an Academic Nursing Environment

Employee attrition affects organizations in the form of lower productivity, decreased profitability, and reduced sustainability. In 2014, business owners lost over $11 billion in tangible and intangible assets due to the inability to retain employees. Using the social exchange theory as the conceptual framework, the purpose of this multiple case study was to explore effective employee retention strategies used by business leaders in an academic nursing environment. The study encompassed participants from 3 of the United States: Texas, Kentucky, and Florida. Participants were purposefully selected because of their experience in implementing effective employee retention strategies. Data were collected via semistructured interviews with 4 business leaders. Data were analyzed using inductive coding of phrases, word frequency searches, and theme interpretation. Three themes emerged from the analysis of data: supportive leadership assisted in the retention of employees, growth and development opportunities for employees continued their commitment with the organization, and a robust and focused onboarding process was a critical component of creating the culture and commitment from the employee from the onset of their employment. This study might contribute to social change by providing business leaders in academic nursing environments with valuable insights related to employee retention that can lead to enhanced sustainability, improved organizational growth, and increased profitability, which might promote prosperity for local families and the community