Investing in the Float Pool: A Cost Effective Alternative for Staffing Shortages

<p>Abstract</p> <p>Inpatient facilities have historically utilized contract nurses as a short-term solution to staffing shortages. Research suggests that utilizing the float pool provides a cost-effective alternative that has the potential to save the organization millions of dollars per year. This project aims to explore the financial impact of the float pool by increasing the volume of nurses by 50% within six months, individualizing the onboarding process to fit the needs of this complex department, and initiating a shared decision making model for identifying and implementing change. The overarching goal of this project is to provide a cost-saving alternative to staffing shortages, while taking the appropriate steps to improve staff satisfaction, engagement, and retention. Since the project was implemented, the number of float pool nurses has increased by 51%, retention rates have increased from 66% to 96%, and data from the post-orientation survey show 90% of new float pool staff felt adequately prepared to independently care for patients on specialized units within their floating cluster. The study concludes that increasing the number of float pool nurses is a cost efficient strategy to meet staffing needs, but for optimal results, this strategy should also include concurrent steps to support staff engagement and retention rates. Further research is indicated to evaluate the long-term impact of float pool utilization as an alternative to staffing shortages.</p>

Name thesis:degree_name

Master of Science in Nursing (MSN)

Level thesis:degree_level

Project/Capstone - Global access

Year dc:date.available

2017

Author dc:creator

• Straw, Christen

Contributors dc:contributor

• Cathy Coleman

• float pool
• float nurses
• float
• staffing shortages
• staffing alternatives
• staff engagement
• cost saving strategies
• shared decision making
• float pool orientation
• Nursing Administration

Repository record dc:identifier

https://repository.usfca.edu/capstone/618

OAI identifier oai:identifier

oai:repository.usfca.edu:capstone-1643