Mercy Health, a 23-hospital system based in Cincinnati, has launched a student loan repayment program to attract and retain nurses in hard-to-fill roles, according to WVXU.
Due to tough competition for nurses and an increase in voluntary turnover, Mercy Health typically has between 1,500 and 2,000 openings for nursing positions. “We’ve seen voluntary turnover of almost 18 percent,” Allan Calonge, Mercy Health’s human resources vice president, told WVXU. “That’s quite a bit higher than it has been historically.”
Officials hope the new student loan repayment program will help address the problem. Mercy will make monthly contributions toward outstanding student loan debt for nurses who qualify. The system will contribute up to $20,000 to each nurse’s loans, according to WLWT.
“Talented nurses are vital to ensuring the health and well-being of our patients,” Mr. Calonge told WLWT. “Our new student loan repayment program is a win-win for us and our nurses.”