26 Dec 2022

34

Managing Human and Financial Resources

Format: APA

Academic level: College

Paper type: Essay (Any Type)

Words: 1038

Pages: 2

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The issue identified on Assessment 2 is long working hours for the employees which has in turn resulted in employees’ burnout and also some employees wanting to leave the organization. The goal of this proposal is to ensure that the problem is addressed and resolved with immediate effect. The main objective is to finance for additional workforce which will make the shifts shorter. This will also be achieved through additional incentives on those nurses working for long hours. As an organization, it is important to ensure that there is the financial management which ensures money is being managed in the right manner which would help the organization meet its financial obligations (Conner, 2014) . It is evident that when a healthcare organization has a strong and very articulated financial management plan, they will be able to provide quality healthcare to all its patients. The organization will also be able to work with staffs in an organized way, address current and recurrent issues in a swift manner that would be in the interest of employees, ensuring retention and attraction of top-notch employees. The essay discusses the need to have a robust operating budget in an organization and how the operating budget would help the system to be swift. Having additional nurses will ensure that patients are satisfied with the care they receive and while employees do not experience burnout, a positive indication of a performing healthcare organization.

Managing human and financial resources enables the work of the interdisciplinary teams to be achievable and swift. As a healthcare organization, it is paramount to manage both human and financial resource so as to accomplish objectives and also ensure that patients are able to receive quality care (Conner, 2014) . Human resource can be managed through understanding their future anticipation and needs, managing their competency and also development, and most importantly, in this context, ensuring that the workload is right (Neprash) . The resources needed for accomplishment include inter-disciplinary collaboration, management willingness, and a financial budget, among others (van Oosteen, Ubbink, Mens, Pompe, & Vermeulen, 2016) . The budget needs to include nurses as they are part of the core structure in the organization that provides care and have been affected by long working hours, resulting in burnout and turnover. As such, nurses can be used to come up with a plan through sending and keeping information such as patient’s information in electronic format.

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Interdisciplinary Collaboration 

The interdisciplinary collaboration strategy ensures there is a development based on the data collected during the assessment of the patients. Interdisciplinary collaboration ensures that each team that is being involved in providing healthcare to patients is able to participate in assessment, and are able to come up with a joint approach in achieving the goals and the interventions put across to improve the care (Tomasik & Fleming, 2015) . As such, it is imperative to ensure that each discipline in the organization is included during the discussion of the budget to improve the quality of care and also reduce the time for work for all nurses. For example, Robert Wood Johnson Foundation describes effective interdisciplinary collaboration in healthcare would help promote active participation for each discipline in ensuring patient care where all the disciplines would be working together to ensure they engage patients and adapt to various changes. This, in turn, helps reduce the amount of activities that would be performed by one employee to be done by several employees. Interdisciplinary collaboration can ensure achievement of a goal through preventing medical errors, improve the patient’s experience, and also deliver quality and improved patient outcome, all of which would significantly reduce the healthcare costs (Kolakowski, 2016) . Some of the examples include the need for physicians and nurses to come together in ensuring that they are able to provide patient-based care.

Management Theories and Leadership Strategies 

The management theory best appropriate for this situation is the planned change. The theory emphasizes all the teams that have been affected by the change and require them to participate in finding the mitigation strategy through seven core steps (Giddens, 2017) . The focus requires people who are being affected by the change to collaborate, focusing on communication skills, problem-solving strategies, rapport building, and establishing a mechanism that would provide feedback. For example, in the recent past, there was a confrontation in my place of work as many doctors and staff members felt they did not receive well-cooked lunch. When the head of catering department was confronted, he said that he had already addressed the issue to the finance and was yet to get any feedback. The issue was sorted with immediate effect. This shows the power of planned change where all the affected players came together to find solution.

The leadership strategy that can be used is Defined and Communicate A Vision. The strategy is important as it provides the vision of the management and how it can be implemented (Eckardt, 2017) . As such, it provides a way that management can be able to communicate the interdisciplinary proposal and ensure that the main players are identified. As a leader, it would be important to encourage workers and other staff on the importance of providing quality healthcare to patients while also ensuring personal safety and collaboration with other employees (The Robert Wood Johnson Foundation, 2014) . The theory would also play a vital process in ensuring that all the involved practitioners are able to understand the immediate and later effects of the proposal and how it would help them and those around them. This is a blueprint of how the organization will be performing in future and as such, it has to match the expectation of many. As such, the problem is highly advocated to all the stakeholders and management in particular to finance the changes, as the proposal is important in increasing the employees morale.

The operating budget 

However, promising the proposal is, it can also be rejected by shareholders as they might -assume it is vague and do not address the real-time issues in the organization. They might also feel that the forecasts are unachievable or not viable (McIntosh, 2015) . In such a case, it would be important to understand the mitigations they might be having in mind concerning the rejection and the issue at hand. If the organization does not have enough funds to finance the proposal, it would be effective if the explain this to the fraternity that is being affected to reduce the amount of turnover being experienced in the organization.

References 

Conner, B. T. (2014). Differentiating research, evidence-based practice, and quality improvement. American Nursing Today, 9 (6), 26-31. Retrieved from https://www.americannursetoday.com/differentiating-research-evidence-based-practice-and-quality-improvement/

Kolakowski, D. (2016). Constructing a nursing budget using a patient classification system. PubMed, 47 (2), 14-6. doi:10.1097/01.NUMA.0000479449.43157.b5

Neprash, H. T. (n.d.). Association of financial integration between physicians and hospitals with commercial health care prices. JAMA internal medicine, 175 (12), 1932-1939.

The Robert Wood Johnson Foundation. (2014). Robert Johnson Wood Foundation. (2014). Preparing nurses for leadership in public policy [Blog post]. Retrieved April 17, 2020, from The Robert Wood Johnson Foundation: https://www.rwjf.org/en/library/articles-and-news/2014/02/preparing-nurses-for-leadership-in-public-policy.html

Tomasik, J., & Fleming, C. (2015, March 10). Promising Interprofessional Collaboration Practices . Retrieved April 17, 2020, from Robert Wood Johnson Foundation: https://www.rwjf.org/en/library/research/2015/03/lessons-from-the-field.html

van Oosteen, C., Ubbink, D. T., Mens, M. A., Pompe, E. A., & Vermeulen, H. (2016). Pre-Implementation studies of a workforce planning tool for nurse and human resource management in university hospitals. Journal of Nursing Management, 24 (2), 184-191.

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StudyBounty. (2023, September 14). Managing Human and Financial Resources .
https://studybounty.com/managing-human-and-financial-resources-essay

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