DB FPX 8610 Assessment 1 Analyzing and Reflecting on Completed DBA Capstone Projects in Business Administration
DB FPX 8610 Assessment 1 Analyzing and Reflecting on Completed DBA Capstone Projects in Business Administration Analyzing and Reflecting on Completed DBA Capstone Projects in Business Administration High staffing agency costs are a financial burden on hospitals since the country is experiencing a nurse shortage. The registered nurse workforce in the U.S. is 4.4 million, with 1.8 million residing in hospitals, thus resulting in a workforce shortage (Perkins, 2021). The increasing number of nursing staff becoming old age means that the nursing professionals in the workforce are decreasing. Staffing solutions are required to strike a balance between staffing needs and economic viability. The leaders of the project discuss the way community hospitals can establish a cost-efficient and reproducible staffing plan. Topic and Problem Statement An in-depth analysis of the increase in nurse labour costs as a result of workforce management solutions is the main purpose of the project. The particular issue is the current problem of the nursing shortage in the U.S, which has caused historic labour costs because healthcare administrators are trying to make sure that hospitals are staffed (Edmonson et al., 2021). The excessive outlays are associated with the health organizations using agency nursing services or prolonged overtime hours owing to a lack of staffing solutions (Muir et al., 2021). The problem is relevant to business administration since healthcare organisations have to strike a balance between business processes and delivering high-quality care to patients and sustaining their financial viability (Vries et al., 2023). As a key element of operational efficiency and cost control, workforce management can be very pertinent to business strategy and human resource management, making this research extremely relevant to both. The main results and business implications Six key categories that are identified in the study are mandate, employees, retention, budget, leadership, and opportunities. Five themes were identified, based on the views of administrators towards workforce management and nurse labour costs. The results emphasise the necessity of strategic, long-term solutions to staffing and not depending on expensive, temporary solutions. These insights influence business practices as they highlight the need to plan the workforce, retain employees, and develop their leaders (Brook et al., 2020). Healthcare organisations should change their staffing strategy to a proactive and reactive mode and use technology to optimise scheduling and provide competitive benefits to retain nurses. Theory and Practice Braun Clarke (2006) thematic analysis approach, a theoretical framework of qualitative data interpretation, is the method that the project applies to solve practical problems of the workforce in the real world. This approach helps organize key themes and patterns that emerge from workforce-related information. Other human resource management theories, including Herzberg Motivation-Hygiene Theory, can be used to explain issues of employee retention. The results indicated that monetary rewards alone could not retain nurses (Braun and Clarke, 2006). The presented practical case study explains how theoretical frameworks inform workforce management planning. Implementation in a Business Context Their findings can be used by hospital administrators to install workforce management programs, with the help of which it is possible to optimise the activities of hospital personnel. Predictive analytics would help healthcare facilities to forecast patient census levels correctly and enable them to adjust the number of manpower and remove the problems of unnecessary costs of employing agency nursing personnel. According to Keith et al. (2020), a healthcare organisation takes the example of large organisations that incorporate AI scheduling software that would assist in maintaining balanced patient care ratios and, at the same time, decrease overtime workforce. To ensure nurse workforce stability in the long-term, healthcare organisations ought to design nurse retention initiatives that are inclusive of both career advancement opportunities and flexible work arrangements. The analytical solutions have non-healthcare applications in helping industries with staff shortages in logistics and retailing. By employing workforce analytics, companies can establish more successful staffing choices, which reduces their use of expensive temporary workers at the expense of establishing viable human resources policies aimed at employee retention (DiMattio & Hudacek, 2022). In general, the capstone project offers a roadmap to healthcare leaders to balance quality staffing with cost efficiency that delivers business leaders in different industries useful workforce management strategies. References Braun, V., & Clarke, V. (2006). Using thematic analysis in psychology. Qualitative Research in Psychology, 3(2), 77–101. https://doi.org/10.1191/1478088706qp063oa Brook, J., Aitken, L., Webb, R., MacLaren, J., & Salmon, D. (2020). Characteristics of successful interventions to reduce turnover and increase retention of early career nurses: A systematic review. International Journal of Nursing Studies, 91(91), 47–59. https://doi.org/10.1016/j.ijnurstu.2018.11.003 DiMattio, M. J. K., & Hudacek, S. (2022). Reframing hospital nursing as a specialty to address the staffing crisis. American Journal of Nursing, 122(11), 11–11. https://doi.org/10.1097/01.naj.0000897068.41862.48 Edmonson, C., Marshall, J., & Gogek, J. (2021). Creating a healthier workplace environment in an era of rising workforce pressures. Nursing Administration Quarterly, 45(1), 52–57. https://doi.org/10.1097/naq.0000000000000448 Keith, A. C., Warshawsky, N., Neff, D., Loerzel, V., & Parchment, J. (2020). Factors that influence nurse manager job satisfaction: An integrated literature review. Journal of Nursing Management, 29(3), 3–7. https://doi.org/10.1111/jonm.13165 Muir, K. J., Wanchek, T. N., & Lobo, J. M. (2021). Evaluating the costs of nurse burnout-attributed turnover. Journal of Patient Safety, 18(4), 351–357. https://doi.org/10.1097/pts.0000000000000920 Perkins, A. (2021). Nursing shortage: Consequences and solutions. Nursing Made Incredibly, 19(5), 49–54. https://doi.org/10.1097/01.nme.0000767268.61806.d9 Vries, N. de, Lavreysen, O., Boone, A., Bouman, J., Szemik, S., Barański, K., Godderis, L., & Winter, P. de . (2023). Retaining healthcare workers: A systematic review of strategies for sustaining power in the workplace. Healthcare, 11(13), 1–29. https://doi.org/10.3390/healthcare11131887