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Health insurance 'helps reduce turnover'

24 June 2011 - 3:09pm

Private health insurance has been identified as a useful incentive to help combat turnover in the nursing profession.

New research set to be published in an upcoming issue of The Gerentologist suggested that pay alone is a small deciding factor on whether a nurse stays or leaves a nursing home job.

The study, which was carried out by Baylor College of Medicine, the University of Pittsburgh and Rice University, suggested that improving staff retention is crucial to creating a "stable, long-term care workforce", particularly as baby boomers age, according to co-author Vikas Mittal.

He remarked: "Through our study, we see that to increase the retention of ... workers, administrators should address low job satisfaction among employees and provide health insurance."

The new research suggested that in a single year, 5.8 per cent of healthcare workers left the long-term care industry, while a further 8.4 per cent switched to another facility.

Some of Australia's top firms offer private health insurance, as well as office perks and access to training as part of their incentive schemes.

Perks - such as corporate health insurance - that keep employees happy and healthy were identified as common elements among the companies listed by BRW as the top 50 places to work in Australia.