Assignment task: The organization's strategic plan issue is increasing the nursing workforce by recruiting and retaining new graduate nurses. One initiative included in the strategic plan is a student nurse residency program. The hospitals vacancy rate for nurses increased from 12.2% in 2019 to 39% in 2021. It is crucial for the hospital to develop a program that will attract and retain new nurse graduates. This program is expected to improve recruitment of new nurses and reduce the vacancy rate for registered nurses (RNs) by 50% over the next five years.
I need help developing a budget and timeline for developing a new student nurse residency program in the hospital. It needs to include an analysis of the financial impact of the student nurse residency program.