Strategic Plan

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 is “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:

  1. The financial issues relating to both retaining staff and those associated with recruiting and training new staff when there is high staff turnover.
  2. The non-financial costs associate with losing personnel who have many years of experience working in this institution.
  3. Recommendations as to what an institution should do to avoid such problems.
  4. The benefits associated with adopting those recommendations.

Your paper should meet the following structural requirements:

  • Five-to-Six pages in length, not including the cover sheet and reference page.
  • Formatted according to APA 7th edition and Saudi Electronic University writing standards
  • Provide support for your statements with in-text citations from a minimum of five scholarly articles. Two of these sources may be from the class readings, textbook, or lectures, but the other two must be external. The Saudi Digital Library is a good place to find these references.

Requirements: Five-to-Six pages in length, not including the cover sheet and reference page.

Answer preview

The organization may recruit new employees due to a high turnover rate. This strategy has a significant financial blow to organizations due to the high costs of recruitment that organizations incur. The associated costs involved in recruitment include; hiring costs, onboarding costs, training costs, and the cost involved in salaries and benefits (Suraihi et al., 2021). The cost of hiring includes the total cost associated with the recruitment process, from scouting for new employees, such as advertisement costs, to other recruitment-related expenses. In addition, new hires are involved in the onboarding process, in which the organization will finance the activities to ensure the employees are effectively integrated into their new working environments. It is also crucial to note that not all employees require the same onboarding program. Thus, the organization may incur more onboarding costs, especially when new hires require different integration programs.

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Strategic Plan
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