This business plan proposes a Nurses' Appreciation Day to boost morale and retention. Nurses reported feeling appreciated through food and relaxation. The plan includes breakfast, ice cream, complimentary massages, and aromatherapy gifts for approximately $2,130. While the cost seems high, it is minimal compared to the $22,000-$64,000 cost per nurse to replace them due to turnover. Appreciating nurses promotes satisfaction, which leads to retention and financial benefits for the organization.
This business plan proposes a Nurses' Appreciation Day to boost morale and retention. Nurses reported feeling appreciated through food and relaxation. The plan includes breakfast, ice cream, complimentary massages, and aromatherapy gifts for approximately $2,130. While the cost seems high, it is minimal compared to the $22,000-$64,000 cost per nurse to replace them due to turnover. Appreciating nurses promotes satisfaction, which leads to retention and financial benefits for the organization.
This business plan proposes a Nurses' Appreciation Day to boost morale and retention. Nurses reported feeling appreciated through food and relaxation. The plan includes breakfast, ice cream, complimentary massages, and aromatherapy gifts for approximately $2,130. While the cost seems high, it is minimal compared to the $22,000-$64,000 cost per nurse to replace them due to turnover. Appreciating nurses promotes satisfaction, which leads to retention and financial benefits for the organization.
This business plan proposes a Nurses' Appreciation Day to boost morale and retention. Nurses reported feeling appreciated through food and relaxation. The plan includes breakfast, ice cream, complimentary massages, and aromatherapy gifts for approximately $2,130. While the cost seems high, it is minimal compared to the $22,000-$64,000 cost per nurse to replace them due to turnover. Appreciating nurses promotes satisfaction, which leads to retention and financial benefits for the organization.
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RUNNING HEAD: BUSINESS PLAN
Business Plan for Nurses Appreciation Day
Jennifer Fernandez University of Saint Mary
Business Plan
2 Business Plan for Nurses Appreciation Day
Nursing is one of the most silently appreciated fields in medicine.
Being a nurse isnt about the guts and glory of it all, its about holding our patients hands as their time on earth nears an end, helping mothers brings new babies into our world, playing with children at their developmental level to make them comfortable with their cancer treatments, educating patients on ways to improve their life during their illness process, and so much more. As nurse appreciation week nears, it is important to thank them for their services, show them appreciation, and also retains the ones currently working at the facility. Nurses appreciation day is a great way to subtly focus on recruitment and retention. As our facility is facing staffing shortages and requiring significant overtime, it is very important our nurses know we appreciate them. Although nurses appreciation is a scheduled week, it allows us the preparation to acknowledge the hard work the nurses do on a daily basis for the facility. Retaining our seasoned staff members is extremely important to the day to day functioning at our hospital. In preparation for this upcoming week, many nurses were contacted and asked what would make them feel appreciated. It is also recommended that a follow up survey be completed to assess the performance of the appreciation day for future planning. Nurses responses to what would make them feel appreciated, revolved around food and relaxation. These seem like simple enough requests to use for further investigation into budgetary possibilities. My proposal for one of the days during nurses appreciation week consists of a complimentary hot breakfast, complimentary ice cream with lunch, and a time period open in the auditorium for nurses to stop in for 10 minute massages and for the annual gifts, an aromatherapy hand sanitizer. Health care facilities that strive to create, offer, and maintain mentally healthy workplace environments are a win-win situation for everyone involved and make good business sense. In essence, good health equals good business. Recent studies of the costs of nurse turnover have reported results ranging from about $22,000 to over $64,000 (U.S.) per nurse turnover. (Mrayyan, 2005). Turnover costs, in general, have been estimated to range between 0.75 to 2.0 times the salaries of the departing individual, while nurse turnover costs have been estimated at 1.3 times the salary of a departing nurse. (Mrayyan, 2005). Retention of experienced, enculturated nurses, elevates the quality of care delivered and improves patient
Business Plan
outcomes, such as reducing the length of stay and complications of
hospitalization. Nurses were asked: Overall, how satisfied are you with your current position? The respondents answered on a scale ranging from highly satisfied (4) to highly dissatisfied (1). Respondents scored very high in satisfaction, with 89% stating they were highly satisfied or generally satisfied. Although the nurses reported high satisfaction in their job, 61% of the sample stated they planned to leave their job within 10 years. One third of the nurses under the age of 26 years planned to leave their job within the next two years, and over one third of this cohort intended to leave their job in the next five years. Thirty three percent of the nurses over the age of 40 years stated that they planned to retire in between 2016 and 2020, a number that could constitute over one third of the nursing workforce in the next decade (Weick et al., 2010). Nurses who are appreciated are more likely to feel satisfied with their current job. Overall, the cost of a good nurse appreciation day outweighs the cost of nurse turnover in a market analysis. Approximately 150 nurses work each day in the hospital. Estimating a cost of $3 per breakfast for one day, the budget would call for approximately $450. Estimating a cost of $1 per nurse for ice cream for lunch for one day, would be an additional $150. Blue Cliff College could be reached to volunteer their time for massages in exchange for their contact hours. If necessary estimating a cost of $1 per minute of massage, with three therapists to accommodate staff members time constraints for six hours of the day, the budget would call for $1,080. Lastly, as a gift for the nurses throughout the hospital, small aromatherapy hand sanitizers are available from Bath and Body Works for $1 each, for approximately 450 nurses hospital-wide would be $450 added to the budget. All together the budget would be approximately $2,130. Implementation planning in total would take approximately 15 days, or three business weeks pending return phone calls etc. The breakfast and ice cream serving should be open and available for two hours each to allow nurses time to go to the cafeteria. The massage therapists should be booked for six hours. Lastly, the gift would be able to be given out in one day in employee mailboxes.
Business Plan
16 14 12 10 8 6 4 2 0 Breakfast
Ice Cream Implementation Time
Massages
Gift
Actual Time of Event
Considering everything the nurses do and give to the patients and
hospital, this day of appreciation is feasible. The cost is worth the benefits when considering the effects on nurses job satisfaction. Feeling appreciated promotes job satisfaction. Job satisfaction promotes retention. As the data showed earlier, retention is more cost effective. In summary, planning a nurses appreciation day is cost-effective. The feeling of appreciation will promote job retention. Planning a few bits of appreciation, breakfast, ice cream, massages, and a gift, will cost approximately $2,130. The budget cost is minimal if consideration of nurse retention and new training costs are considered. Although the overall price may seem steep, in the big picture it is pennies compared to the cost of losing employees due to lack of appreciation. Consider the costs of training new nurses, new graduates, and patient satisfaction related to skill level and nurse satisfaction in general.
Business Plan
5 References
Bath and Body Works. Retrieved from:
http://www.bathandbodyworks.com/category/index.jsp? categoryId=12587004&cm_sp=FO-_-AB-_-AB Mulcahy, A. (2014). An organization functions only as well as the people who help to run it. Nurses are most often the backbone of what keeps large health care organizations operating functionally and efficiently. Nurses are the body, mind, and spirit of most. Workplace Mental Health Manual for Nurse Managers. Mrayyan, M. T. (2005). Nurse job satisfaction and retention: comparing public to private hospitals in Jordan. Journal of Nursing Management, 13(1), 40-50. Shader, K., Broome, M. E., Broome, C. D., West, M. E., & Nash, M. (2001). Factors influencing satisfaction and anticipated turnover for nurses in an academic medical center. Journal of Nursing Administration, 31(4), 210-216. Wainright III, C. F. (2006). The Future Is Now: A Call for Action. Managing Human Resources in Health Care Organizations, 373. Weick, K., Dols, J., & Landrum, P. (2010). Retention priorities for the intergenerational nurse workforce. Nursing Forum, 45(1), 7-17.