Staffing Turnover (125 points)
Review the Corporate Strategic Plan for Dr. Soliman Fakeeh Hospital: https://assets.dsfh.med.sa/wp-content/uploads/2019/06/Corporate-Strategic-Plan-2018-2020-1.pdf.
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.
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 associated 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.
There are a number of financial issues associated with high staff turnover. First, when staff members leave an organization, they take with them the knowledge, skills, and abilities that they have acquired while working for the organization. This can be costly for the organization, as it may need to invest in training new staff to replace the ones who have left. Second, high staff turnover can lead to increased costs for the organization, as it may need to spend more on advertising and recruitment to attract new staff. Finally, high staff turnover can also lead to lower morale among remaining staff members, which can impact productivity and performance.
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