Staffing Turnover
Review the Corporate Strategic Plan for Dr. Soliman Fakeeh Hospital
One of the Strategic Directives listed in “Invest in People & development” which is explained in detail on page 14.
Investing in people can be expensive but it can be argued it is less expensive than having a higher employee turnover.
There can also be many benefits from retaining staff as this article illustrates:
The COVID-19 Pandemic has placed a significant strain on many employees in the healthcare industry, with burnout and potentially PTSD becoming major issues going forward.
Write a paper that addresses:
The financial issues relating to both retaining staff and those associated with recruiting and training new staff when there is high staff turnover.
The non-financial costs associate with losing personnel who have many years of experience working in this institution.
Recommendations as to what an institution should do to avoid such problems.
The benefits associated with adopting those recommendations.
Expert Solution Preview
Introduction:
Staffing turnover is a common issue faced by many hospitals, and it can have significant financial and non-financial costs. Retaining staff members can be an expense, but it is often less expensive than recruiting and training new staff members. Additionally, losing experienced personnel can have non-financial costs such as knowledge and skill loss. This paper will discuss the financial and non-financial costs of staffing turnover and provide recommendations to avoid such problems. It will also highlight the benefits of adopting these recommendations.
Answer:
The financial issues relating to both retaining staff and those associated with recruiting and training new staff when there is high staff turnover include the costs of advertising job openings, recruiting new candidates, and training new employees. Retaining staff members through initiatives such as promotions, raises, and bonuses can also have costs, but these costs are often lower than those associated with recruiting and training new employees. In addition, the turnover of staff members can lead to productivity loss, which can reduce profits and lead to a decrease in the quality of care provided to patients.
The non-financial costs associated with losing experienced personnel who have many years of experience working in an institution can be significant. These individuals often have a wealth of knowledge and experience that is essential in providing high-quality care to patients. Losing such personnel can lead to a decrease in institutional memory and knowledge, which can impact the quality of care provided to patients. Furthermore, losing experienced personnel can lead to a decrease in morale and motivation among remaining staff members.
To avoid these problems, institutions should focus on retaining staff members through initiatives such as offering competitive salaries and benefits, career development opportunities, flexible schedules, and a positive work environment. Additionally, institutions can implement programs to support the mental and physical health of their employees to reduce the risk of burnout and PTSD. Improving employee engagement and communication can also help improve employee retention and reduce turnover.
The benefits associated with adopting the above recommendations include increased staff satisfaction and higher levels of productivity and employee morale. Retaining experienced personnel can also lead to improved patient outcomes and a higher quality of care. Ultimately, investing in staff members can lead to a stronger institutional culture, which can attract new employees and improve the overall reputation of an organization.
