Cost-benefit analysis

Complete a cost-benefit analysis to determine the best course of action in a scenario for a staffing shortage.

find the cost of your paper

Sample Answer

 

 

 

 

Cost-Benefit Analysis: Addressing Staffing Shortages at [Healthcare Facility/Organization Name], Kisumu, Kenya

Scenario: [Healthcare Facility/Organization Name] in Kisumu is experiencing a significant staffing shortage across various departments (e.g., nurses, doctors, allied health professionals). This shortage is impacting patient care quality, increasing workload on existing staff, and potentially leading to burnout and decreased morale. We need to evaluate potential courses of action to address this shortage and determine the most beneficial approach.

Objective: To identify the most cost-effective and beneficial course of action to alleviate the current staffing shortage while maintaining or improving patient care quality and staff well-being.

Full Answer Section

 

 

 

 

 

Potential Courses of Action:

  1. Increase Overtime for Existing Staff: Offer existing staff overtime pay to cover vacant shifts.
  2. Temporary Staffing Agencies: Hire temporary staff through agencies to fill immediate needs.
  3. Aggressive Recruitment Campaign: Launch a comprehensive recruitment campaign to attract and hire permanent staff.
  4. Implement Retention Strategies: Focus on initiatives to improve staff satisfaction and reduce turnover.
  5. Combination Approach: Implement a strategic mix of the above options.

Cost-Benefit Analysis Table:

Feature Course of Action 1: Increase Overtime Course of Action 2: Temporary Staffing Agencies Course of Action 3: Aggressive Recruitment Campaign Course of Action 4: Implement Retention Strategies Course of Action 5: Combination Approach (Specify Mix)
Costs
Overtime Pay Higher hourly rates, potential burnout Higher agency fees, potential contract fees Recruitment advertising, staff time for hiring, onboarding costs Investment in benefits, training, recognition programs, staff time Costs associated with each element of the chosen mix
Staff Burnout/Morale Increased risk of burnout, decreased morale May cause resentment from permanent staff Potential initial strain on HR and onboarding teams Initial investment of staff time in developing and implementing strategies Costs associated with potential initial strain and implementation of various strategies
Training/Orientation Minimal Typically handled by the agency Significant time and resources for onboarding and training Ongoing investment in professional development Costs associated with training and onboarding for new hires and implementing retention programs
Impact on Patient Care Potential for errors due to fatigue Potential for lack of familiarity with organization policies May take time to fully integrate new staff Improved continuity of care, potentially higher quality Aims for optimal balance in addressing immediate needs and long-term stability
Administrative Burden Increased scheduling complexity Managing agency contracts and invoices Significant effort in screening, interviewing, and onboarding Planning and implementing retention initiatives Administrative burden associated with managing multiple strategies
Benefits
Immediate Staffing Relief Yes (short-term) Yes (immediate) No (takes time) No (long-term impact) Yes (depending on the mix)
Reduced Recruitment Costs Yes (in the short-term) Yes (no direct recruitment) No (significant upfront costs) Yes (reduced long-term turnover) Partially (reduced long-term if retention is effective)
Improved Continuity of Care No No Yes (long-term with permanent hires) Yes (retaining experienced staff) Aims for improved continuity over time
Enhanced Staff Morale No (potential decrease) May cause resentment Yes (with adequate staffing levels) Yes (feeling valued and supported) Aims for improved morale over time
Long-Term Sustainability No No Yes (building a stable workforce) Yes (reducing reliance on costly alternatives) Aims for long-term sustainability
Cost-Effectiveness (Long-Term) Potentially high due to overtime premiums and burnout costs Likely high due to agency fees and potential quality issues Potentially low with successful recruitment and retention Potentially low due to reduced turnover and associated costs Aims for optimal cost-effectiveness over time

Detailed Expansion of Each Course of Action:

1. Increase Overtime for Existing Staff:

  • Costs: While seemingly a quick fix, prolonged reliance on overtime can lead to significant costs including:
    • Higher Labor Costs: Overtime pay rates are typically 1.5 times the regular rate or higher.
    • Increased Burnout: Overworked staff are more prone to errors, decreased job satisfaction, and ultimately, higher turnover in the long run

This question has been answered.

Get Answer