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Cost per RN hired.

The Journal of Nursing Administration

|February 1, 1985

Summary

This summary is machine-generated.

Recruiting, hiring, and training new staff are costly. This study presents a cost-analysis method to identify areas for efficiency improvements and reduce overall expenses.

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Area of Science:

Business Administration
Human Resources Management
Organizational Psychology

Background:

Staff recruitment, hiring, and training represent substantial investments for organizations.
Understanding the specific cost drivers within these processes is crucial for financial management.

Purpose of the Study:

To present a systematic method for analyzing the multifaceted costs associated with acquiring and onboarding new personnel.
To identify key components of staff acquisition expenses that are amenable to efficiency enhancements.

Main Methods:

Development of a cost-decomposition framework to dissect recruitment, hiring, and training expenditures.
Application of the framework to a case study to illustrate the analytical process.
Identification of cost-saving opportunities through process optimization.

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Main Results:

The analysis revealed significant variations in cost distribution across different stages of staff acquisition.
Specific components, such as time-to-hire and training duration, were identified as primary targets for efficiency gains.
Quantification of potential cost reductions achievable through targeted interventions.

Conclusions:

A structured approach to cost analysis can effectively pinpoint areas for improving efficiency in staff acquisition.
Implementing targeted improvements can lead to substantial reductions in the overall costs of recruiting, hiring, and training.
This method provides a valuable tool for organizations seeking to optimize their human resource investments.