Return on Investment

Return on Investment (ROI)

Background: Workforce research in healthcare has primarily focused on shortages in nursing. Two additional employee groups impact nurse productivity and patient satisfaction. Clinical professionals and support staff play critical roles such as drawing blood, conducting tests, transporting patients, and serving food. However, very little attention has been given to how building the skills of these workers can impact patient care and workforce shortages.

Purpose: Catalyst Learning (provider of School at Work) commissioned an ROI study to provide a baseline for research on the cost of:

Turnover for clinical and support staff
Internal hiring v. external hiring

Participants: 16 Hospitals using School at Work

Research Study conducted by The Work Institute, Nashville, TN

View Complete Study

Hard dollar cost of turnover includes:

· Exit interviews conducting or outsourcing
· Separation processing (administrative issues - filling out forms and retrieving equipment)
· Severance pay when applicable
· Overtime to cover vacant positions
· Agency staffing fees when used to cover for unfilled positions
· Recruiting costs (advertising, staffing job fairs)
· Pre-employment costs (background checks, drug testing)
· New hire expenses (travel, uniforms, moving expenses)
· Training costs (time spent by trainees and trainers and/or outsourced training costs)
· Training program costs (materials, software, development costs)
· Time required for new employees to reach 100% productivity

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