HRM FPX 5060 Assessment 4 HR Challenge: The Employee Experience – Pathways to Employee Success and Retention HRM-FPX5060 Sourcing and Managing Talent in the Workplace Enhancing Employee Retention: A Strategic Approach for “Hospital A”

Introduction

At “Hospital A,” our core mission involves delivering comprehensive clinical care, education, and research focused on pediatric health and family well-being. However, we face a significant challenge in retaining crucial support staff, including licensed practical nurses, radiology technicians, surgical technicians, pharmacy technicians, medical assistants, laboratory technicians, and dietitian assistants. The turnover rate for these roles is alarmingly high, posing a threat to our operational stability.

Comparative Analysis: “Hospital A” vs. “Hospital B”

“Hospital B,” a nearby competitor, has implemented a unique and highly advantageous employee recruitment strategy. Their approach emphasizes a robust work-life career-investment program, which includes a range of benefits designed to enhance employee satisfaction and retention. These benefits encompass career advancement opportunities through joint university and technical programs, cross-field rotations, tuition assistance, scholarship programs for physician assistants, fitness initiatives, free childcare for non-standard shifts, and a gourmet cafeteria.

In contrast, “Hospital A” currently lacks a comprehensive employee experience program, offering only a basic cafeteria. To remain competitive and retain our staff, we must develop and implement a work-life career-investment program that matches or surpasses the benefits offered by “Hospital B.”

Key Recommendations for Improving Employee Retention

To address the high turnover rates and enhance employee satisfaction, “Hospital A” should focus on creating a superior employee experience through several key initiatives:

1. Career Development Opportunities: Implement cross-field rotations, department transfers, and scholarship programs in partnership with local universities. These opportunities should include certification programs and tuition assistance.

2. Work-Life Balance Programs: Introduce fitness programs, on-site childcare for non-standard shifts, and upgrade the cafeteria to better meet employee needs.

3. Recognition and Incentives: Develop a robust incentive program that includes bonuses, additional paid time off (PTO), and peer-to-peer recognition to acknowledge and reward employee efforts.

4. Employee Well-being: Incorporate comprehensive wellness programs, including health insurance, employee assistance programs (EAPs), and mental health support to enhance overall employee well-being and satisfaction.

Talent Development and Employee Engagement

Talent development is crucial for motivating, developing, and retaining employees, particularly in the high-stakes healthcare sector. Investing in continuous growth through shadowing, mentorship, and training can uncover hidden potential and empower high-potential employees. This is especially pertinent given the healthcare industry’s current talent scarcity and high turnover rates.

Cost of Employee Turnover

Employee turnover is a significant financial burden, often costing up to $15,000 per employee with an average salary of $45,000. High turnover not only incurs direct costs but also impacts institutional knowledge and continuity. Investing in employee talent development and experience is a strategic move to mitigate these costs and ensure long-term organizational stability.

Implementing Employee Experience Initiatives

The HR team recommends several initiatives to enhance employee experience:

1. Fitness Programs and Daycare Services: Develop a comprehensive wellness program and on-site daycare to support work-life balance.

2. Upgraded Cafeteria and Incentives: Enhance the cafeteria and introduce incentive programs to foster a more engaging and supportive work environment.

3. Employee Feedback and Surveys: Regularly assess the effectiveness of new programs through employee surveys to ensure they meet staff needs and expectations.

Conclusion

By adopting these recommendations, “Hospital A” can improve its employee retention rates and create a more competitive and attractive workplace. Aligning our benefits with those offered by “Hospital B” while adding unique enhancements will position us as a leader in employee satisfaction and retention. Investing in our employees’ well-being and professional development aligns with our mission to provide exceptional clinical care, education, and research, ultimately benefiting the health of children and their families.

References<