Issue #19: Perfecting Premium Pay: Hiring FTEs within the Goldilocks Zone

How does your hospital manage position approvals? We've observed 3 methods: Hiring to budgeted FTEs, approvals based on productivity performance, or customized department FTE hire targets based on total annual projected labor spend. Hire targets provide a specific FTE value for departments to maintain by considering volume-driven monthly FTE needs and total annual labor cost. For best results, start with the most cost effective option and make adjustments from there by carefully considering the operational feasibility of flexing up. Remember: the best way to address chronic vacancies is to hire ahead of turnover!

NewslettersCara CookMarch 30, 2023Hire Ahead, Seasonal Staffing, Hospital Operations, Hire Targets

Issue #9: Hiring Ahead of Turnover

Experienced leaders know the turnaround time for hiring and orienting staff creates a greater vacancy burden than is typically seen on paper. When staff are unavailable to work, we rely on premium labor such as overtime or travelers to care for our patients, which can adversely impact our culture, outcomes, and hospital finances.

Hiring ahead is a strategy that allows us to quantify the true vacancy burden and hire the perfect number of FTEs and reduce avoidable premium pay.

NewslettersCara CookOctober 7, 2020Labor Management, Position Control, Hire Ahead

Does your department struggle with chronic vacancies?

The impact of unavailable staff can lead to overreliance on premium labor and overtime leading to unnecessary labor spend. The hire ahead strategy can help ensure you have the right staff available to provide quality patient care by factoring in historical turnover and recruitment efforts to determine the department’s hire target.

This article walks through the hire-ahead exercise and how you can begin completing this at your facility.