Why You Should Pay Attention to Workforce Management KPIs
Tracking the right metrics is crucial in optimizing the performance of your healthcare facility. Metrics provide a quantitative way to measure and compare different areas of operations, allowing you to make data-driven decisions that lead to improved results. With a solid set of trackable metrics, you can use key performance indicators (KPIs) to measure your progress toward specific goals.
Whether you need to improve your infection control, increase patient satisfaction, or decrease turnover rates, metrics can help identify inefficiencies and areas for improvement. Metrics also allow you to benchmark against industry standards and compare yourself to similar facilities nationwide. Using metric data to inform your approach to training and continued education helps ensure your employees are engaged with their professional growth and have the tools to stay at the cutting edge of their medical specialty.
Top Staffing Metrics Examples to Monitor for Workforce KPI
Monitoring workforce management metrics is an excellent way to encourage positive results across your healthcare operations, from talent acquisition and patient satisfaction to retention. Here are a few management metrics to track to enhance your efforts:
• Employee Productivity
Employee productivity can be measured by the number of hours worked per patient, patients seen per hour, or patients seen per day. Tracking employee productivity is an excellent way to identify where your staff may be underperforming and help managers develop strategies to improve their productivity.
• Turnover Rate
The staff turnover rate indicates how many employees left the facility during a specific period. Employees may leave facilities for various reasons, including unhappiness with management, pay, or benefits. High turnover rates can indicate unhappy employees, leading to decreased morale, higher costs, and a lower quality of care.
Monitoring the staff turnover rate can help managers identify areas for improvement and ensure that employees are happy and engaged in their work. A deeper investigation may be warranted if a facility has a high staff turnover rate.
• Staff Scheduling Compliance
Scheduling compliance metrics measure how well staff adheres to their schedules. This metric is vital in healthcare facilities that are understaffed or have a high turnover rate, as it can indicate areas with an absence or excess of medical professionals.
Tracking scheduling compliance allows healthcare facility managers to ensure that the right number of staff members are on duty at all times and that there is enough personnel to provide quality care.
Compliance reports give managers a better understanding of:
• The percentage of shifts that are adequately staffed
• Staff members who frequently miss shifts or arrive late
• Scheduling patterns and trends
• Occupancy Rates
Monitoring occupancy rates allows managers to understand how many patients use the facility at any time. This metric is particularly useful for managers who are responsible for staffing. By understanding the patient-to-staff ratio, managers can ensure staffing levels and patient safety are not compromised.
Occupancy rates also give managers an understanding of the patient flow within the facility. This metric can be used to evaluate the effectiveness of marketing efforts, as it provides insights into how well the facility can attract new patients.
• Employee Satisfaction
While employee satisfaction is subjective, it can be quantified by tracking retention rates and overall morale. Satisfied workers are more likely to be engaged and productive, improving patient outcomes. Managers can measure employee satisfaction through surveys, focus groups, or other feedback mechanisms.
This data type can then inform decisions about training programs, compensation packages, or other initiatives that may improve employee morale and retention rates. If employees are satisfied at your healthcare facility, you might see a decrease in voluntary turnover rates or an improvement in staff compliance with infection control measures.
• Recruitment
Tracking recruitment metrics can help managers measure the effectiveness of their recruiting process and identify potential gaps in their hiring strategies. Examples of metrics related to recruitment include time-to-hire, diversity rate, and cost per hire. These metrics, especially when combined with other factors like offer acceptance rate, can inform decisions about attracting more qualified applicants or what incentives may be necessary to retain new hires.
• Introducing the Vendor Management Platform
Vendor management platforms are designed to streamline the process of engagement. These provide a centralized hub for hospitals to manage their vendors, allowing for more accessible communication and collaboration.
By having critical information like contact information, job descriptions, and performance metrics in one place, vendor management platforms help make the recruitment process more efficient and cost-effective. They can also provide data-driven insights into performance, allowing hospitals to better understand the effectiveness of different partners.
Implement a Workforce Management System From Expedient VMS to Improve Your Healthcare Environment
Workforce management software provides an easy way to track and monitor key performance metrics. The software aggregates data from multiple sources, giving you a comprehensive view of your operations. You can easily track staff hours, overtime rate, cost per hour, and much more. The software lets you quickly identify trends and potential issues by displaying data in easy-to-read reports and dashboards. With this information, you’re better positioned to make informed decisions about staffing needs and ensure your facility is adequately supported.
The Expedient vendor management solution (VMS) is designed to optimize task management and hand time back to you. With our VMS, you can engage with a vast network of highly qualified vendors and clinicians in a friendly and inclusive environment. Our platform centralizes tools and information to improve communication between all parties. We created real-time tools and a structured managed staffing program to maximize the use of your contingent workforce. Our platform can measure KPIs internally with surveys we make available to you.
Ready to optimize your workforce management approach? Reach out today.
