Unlocking Greater Value Beyond the Benefit

Due to evolving constraints across the healthcare industry, organizations are expected to view education and training as a strategic investment rather than merely an obligatory benefit. Many healthcare organizations fall into the trap of relying on third-party vendors to manage education assistance benefits. These vendors often do not create or provide actual content but instead, source options for employees to self-select based on their own educational objectives. With this approach, employees and organizations often have misaligned expectations leading to disengagement and negative outcomes.

Strategic Workforce Development: A Business Imperative

Investing in workforce development should be viewed as a strategic business imperative. Here are several reasons why:

Identifying Gaps and Understanding Needs: Analyzing where investments in workforce development are most needed can help organizations better understand their current workforce's needs. This process involves evaluating the educational qualifications, skill sets and leadership capabilities of your employees, as well as identifying areas where additional support may be required.

A comprehensive audit can reveal critical gaps in your organization, such as a need for advanced clinical skills in certain teams, leadership development opportunities, or enhanced communication and collaboration skills.

A strategic partner can provide valuable insights and tools, ensuring that your initiatives are not only effective but also scalable, sustainable and measurable. By collaborating with leaders in workforce development, you can devise a strategic approach to address identified gaps through targeted development programs, maximizing the impact of your investment.

Improved Employee Retention and Satisfaction: Aligning organizational goals with employee engagement and offering robust education and training programs can increase satisfaction and loyalty, ultimately reducing turnover rates. Research from MIT in 2023 shows employees who feel supported in their career development are more likely to stay with an organization long-term. A survey by Pew Research found that 63% of people who left jobs cited a lack of advancement opportunities. These insights highlight the importance of providing clear pathways for career growth to retain top talent.

Additionally, according to the American College of Healthcare Executives, access to learning opportunities throughout the career enhances existing skills and provides avenues for ongoing development and advancement. Employers are encouraged to invest in programs that enable healthcare professionals to pursue further education while actively contributing to patient care. This leads to the additional benefit of retaining and recruiting employees while keeping them within the same health system for a prolonged period of time. In the first year following the implementation of our Nurse Residency program at CommonSpirit Health (CSH), nurse retention rates climbed to over 92%, a notable improvement from pre-implementation levels.

Attract New Talent In A Competitive Market:  In today’s competitive job market, attracting top talent is crucial for organizational success. Investing in workforce development can significantly enhance an organization’s appeal to prospective employees. When healthcare organizations offer robust education and training programs, they demonstrate a commitment to the professional growth of their employees. 

Candidates are increasingly seeking employers who provide opportunities for continuous learning and career advancement. According to a 2023 edX study, 80% of employees view work experience and related training as a preferred alternative to post-secondary college, and 77% state they would remain longer with a company that offered extensive L&D programs.  By showcasing a strong investment in workforce development, organizations can differentiate themselves from competitors and attract high-caliber candidates who are eager to grow within a supportive and forward-thinking environment. Additionally, offering programs tailored to industry-specific needs, such as those designed in collaboration with experts and aligned with current best practices, can make an organization more attractive to candidates who are looking for roles that offer both career development and the chance to work with cutting-edge practices.

Increased Innovation and Adaptability: A well-trained workforce is more innovative and adaptable, capable of responding effectively to industry changes and challenges. This enhanced agility allows healthcare teams to quickly incorporate the latest medical advancements, adapt to evolving patient needs and implement new technologies effectively. 

As a result, these organizations can maintain a competitive edge in the marketplace, staying ahead of industry trends and improving patient outcomes. Fostering a culture of continuous learning also encourages creative problem-solving and collaboration, driving further innovation within the organization.

Enhanced Skill Sets and Risk Mitigation Through Education: Investing in continuous learning is crucial for healthcare organizations to ensure their workforce remains current with the latest medical knowledge, technologies and best practices. This commitment enhances employee competency and plays a vital role in effective risk management. Comprehensive education helps employees stay well-informed about compliance regulations, safety protocols and ethical standards significantly reducing the likelihood of errors, legal issues and reputational damage.

OpusVi programs are designed specifically for healthcare professionals and developed in collaboration with industry leaders. These programs integrate the latest best practices and evidence-based curriculum, rooted in rigorous research to ensure effective learning outcomes. Our instructional design is crafted to prepare learners to thrive in today’s healthcare landscape, enhancing both the skill sets of healthcare teams and their ability to manage risks effectively. 

By equipping employees with up-to-date knowledge and best practices, organizations can improve patient care and outcomes while navigating the complexities of their work environments with greater confidence.

Creating Organizational Consistency: Implementing standardized training programs ensures that all team members are aligned with the organization's protocols, ethical standards and patient care practices. Designed for scalability, our programs adapt to your organization’s unique challenges, ensuring seamless implementation across departments, locations and even states. This consistency reduces variability in how tasks are performed, which is crucial for maintaining quality and safety across different departments.

Our Certified Nursing Assistant (CNA) Training Program with Providence has been launched across six states: Alaska, Washington, Oregon, Montana, New Mexico and Texas. The program is specifically designed to reduce administrative burdens while ensuring consistency and uniformity across multiple sites.

Our Nurse Residency, Preceptorship and Mentorship program co-designed with CSH has demonstrated remarkable scalability. We’ve successfully launched 146 cohorts across 53 facilities in 21 states, providing a consistent and high-quality learning experience that supports the development of a new nursing workforce. 

Measurable Return on Investment (ROI): Unlike traditional benefits, the impact of strategic workforce development can be quantified. Organizations can track metrics such as employee performance, retention rates and patient satisfaction to evaluate the effectiveness of their programs. To support this, the Impact Dashboard provides a clear view of the effectiveness and ROI of workforce strategies, providing valuable data insights that help organizations track progress and outcomes. 

While working with CSH to provide our Nurse Residency, Preceptorship and Mentorship program, the OpusVi Impact Dashboard provided CSH leaders valuable real-time data on nurses’ transitions into practice. This visibility allowed administrators to identify and analyze areas for improvement, helping to reduce turnover rates and enhance employee satisfaction and well-being, leading to a whopping 92% retention in the first year following implementation. According to the 2023 NSI National Health Care Retention & RN Staffing Report, the average cost of turnover for a bedside RN is $56,300, meaning this residency program contributed to an estimated $16.3M in cost savings.

Similarly, our Medical Assisting Training program for MercyOne led to a remarkable 50% reduction in Medical Assistant turnover, boosting the retention rate from 64.6% to 90%. These outcomes demonstrate the importance of not only implementing but also rigorously measuring the effectiveness of workforce development programs to achieve tangible benefits for both employees and the organization.

Implementing a Strategic Workforce Development Program 

To effectively leverage workforce development as a business strategy, healthcare organizations should take a structured approach:

1. Conduct a Comprehensive Needs Assessment: Start by identifying the critical skills and competencies necessary for success. Evaluate the current workforce's capabilities and pinpoint gaps, prioritizing key areas for development. This ensures that training efforts align with the organization's goals and workforce needs.
2. Leverage Strategic Partnerships: Collaborating with trusted partners like OpusVi enables healthcare organizations to access specialized knowledge, advanced learning platforms and customized solutions tailored to their specific challenges. OpusVi’s programs are designed to be scalable, adaptable and aligned with industry best practices, ensuring seamless implementation across departments and locations.
3. Promote Awareness and Participation: Increasing employee awareness of available workforce development programs is essential for engagement. Clear communication and the use of targeted incentives can drive participation and ensure that employees take full advantage of the opportunities offered for career advancement.
4. Utilize Innovative Learning Methods: Embracing technology-enabled solutions, such as online courses, simulations and virtual reality, creates flexible and engaging learning experiences. OpusVi’s programs incorporate competency-based and research-informed learning designs, ensuring that employees gain practical skills that can be immediately applied to their roles.
5. Measure Effectiveness and ROI: Track key metrics such as participation rates, employee performance, retention and patient outcomes to evaluate the success of workforce development initiatives. OpusVi’s Impact Dashboard offers real-time data, allowing organizations to measure the effectiveness of their programs and maximize ROI.

Conclusion 

Workforce development is not merely a benefit to offer employees but a strategic investment that can drive significant business value. By viewing education and training as a critical component of their business strategy, healthcare organizations can enhance their workforce’s skills, improve patient outcomes, cut turnover costs, mitigate risks and achieve sustainable growth. As the healthcare landscape continues to evolve, those organizations that prioritize workforce development will be better positioned to succeed and thrive in the future.