Healthy Investment Case Study

Document Type:Case Study

Subject Area:Economics

Document 1

The company will profit through improved customer satisfaction and sales whereas the employee will learn new and better ways of doing work, making the work experience better. Training programs are evaluated by the trainees and the company using measures referred to as training criteria. Training evaluation on the other hand consists of the process of gathering aftermaths with an aim of deciding the effectiveness of the training (Fleck and William, 2014). For this particular hospital, part of the outcome was increased earnings before interest and other financial gauges, increased leader feedback and an advancement of customer care satisfaction. The process of gathering information as illustrated by the hospital was accurate in availing reliable data on conclusions on training program’s effectiveness. The set goals include “a curriculum focusing on both performance and financial management, to develop and recruit top talent, to change management, and focusing on the performance needs and weaknesses of middle managers.

Sign up to view the full document!

”1 From these we get inadequacy of leadership, low financial performance, and also failure to meet employee and customer experience. Starting from change management, it is all about empowering employees to accept with readiness new changes brought in an organization in a very structured way by targeting all the transitioning teams and individuals from the current way of operation to a desired state of the future. It is never a simple task to successfully bring and effect change. The need to employ the change management is necessitated by technological evolution, crisis in the past- from within and from without and competitors in the health sector are daily inventing models which are winning patients. The training of different methods to produce desired outcomes will integrate each program with a set of team-building activities and a performance review of the organization.

Sign up to view the full document!

“Formal processes were implemented to hold the leaders accountable to the performance of their area. The principal goals included increased earnings before interest, depreciation and amortization (EBIDA)”2. The challenge to this EBIDA method is that most companies and economic analysts rarely use it as a measure of earnings. It is not an internationally accepted standard of tracking, analysing and comparing together with forecasting progress. To have a fruitful implementation of the goals set, frequent and personalized feedbacks are requisite. Next came an initiative to improve patient care from competent to excellent. With the approval of top management, the department invested in a clinical simulation training program that will mimic real patient experience in a practising environment. Five patient practice rooms were constructed each containing life-like patient simulator.

Sign up to view the full document!

Employees can work alone or in groups during medically accurate simulations to improve their patient care and problem solving skills. Three years later, the retention rate for new nurses rose to 86. 2% whereas the new graduate retention rate shot to 94. This was impressive enough when compared to the national performance in the health sector (Sisters of Charity Health Website). Other training initiatives for improving efficiency are Just In Time, call ED system that allows employees to immediately contact an expert instructor by dialling a single phone number. The paging system is especially valuable in a hospital facility since close to 48% of newly hired nurses have just graduated. Fleck, Steven J. , and William Kraemer.  Designing Resistance Training Programs, 4E. H Human Kinetics, 2014. Kash, Bita Arbab, et al.

Sign up to view the full document!

From $10 to earn access

Only on Studyloop

Original template