This case study offers a perfect example of how to implement a workforce planning process that delivers immediate business value
Washington, DC (PRWEB) September 19, 2008
Infohrm, the global leader in workforce planning, reporting and analytics solutions, today released a case study highlighting the success of the Greater Baltimore Medical Center (GBMC) in implementing a new workforce planning process that will save the organization over $4 million in staffing costs.
As with many healthcare providers, GBMC, a 335-bed community hospital with 3,200 staff (the organization is one of the largest employers in Baltimore County), faces the twin pressures of addressing immediate shortages in Registered Nurses (RNs) while devoting resources to longer-term RN recruitment and retention.
Acutely aware of the falling external availability of RNs, GBMC partnered with Infohrm to forecast its future internal labor supply and estimated demand for staff and skills over the next four years. In selecting Infohrm as its workforce planning partner, GBMC cited Infohrm’s proven, replicable methodology for workforce planning, expertise in data-driven forecasting, and "train-the-trainer" approach to building GMBC’s workforce planning skills.
Infohrm’s consulting team worked with GBMC to implement an end-to-end workforce planning process featuring environmental analysis of the market conditions in which GBMC operates, future growth scenario plans, labor supply and demand calculations (to identify workforce risks and cost-savings opportunities), and workforce planning metrics to measure progress. The results: a $4 million cost-saving opportunity (due to lower reliance on outside agency staffing) and increased credibility for HR as a true business leader.
"It is critical that GBMC builds a future workforce capable of achieving our goal of providing exemplary patient care," explained Mark Thomas, GBMC's Vice President of Human Resources. "Partnering with Infohrm enabled us to more effectively forecast labor supply and demand, identify which nursing segments have the greatest risk of turnover, and implement steps to address long-term talent challenges."
"This case study offers a perfect example of how to implement a workforce planning process that delivers immediate business value," said Brian Kelly, President of Infohrm North America. "As the marketplace demand for workforce planning grows, Infohrm’s workforce planning methodology, global expertise, and 25 years of forecasting experience will help other organizations seeking to launch, or improve, a workforce planning initiative."
Infohrm 2008 Workforce Analytics & Planning Conference
Greater Baltimore Medical Center's workforce planning process is a featured presentation at the upcoming Infohrm Workforce Analytics & Planning Conference, to be held in Washington, DC on October 6-7. The event combines leading edge keynote speakers (USC’s Dr. John Boudreau, Dr. Peter Cappelli from the University of Pennsylvania, etc.) with 15+ case studies, pre- and post-conference workshops, and Healthcare, Financial Services, and Retail Industry Consortiums. For more, go to the Infohrm Workforce Analytics & Planning Conference homepage.
About Greater Baltimore Medical Center
GBMC HealthCare includes Greater Baltimore Medical Center (GBMC), Central Maryland’s leading community hospital with a mission of Health, Healing, and Hope; Gilchrist Hospice Care, which provides comfort and care to patients with life-limiting illnesses; and the GBMC Foundation, which manages fundraising efforts. Located on a beautiful suburban campus, GBMC provides a total of 359 beds for patient care (310 acute care, 25 subacute and 24 for hospice inpatients), handles more than 26,700 inpatient cases annually, and provides approximately 60,000 emergency room visits. For more information, go to http://www.gbmc.org.
Infohrm is the global leader in on-demand workforce planning, reporting, and human capital analytics solutions. With over 25 years of experience, and a strong customer base consisting of Fortune 1000, non-profit, and government clients, Infohrm has paved the way for organizations to measure the impact of human capital initiatives and drive business results. The Infohrm solutions couple a leading edge on-demand technology platform with strategic consulting and HR professional development services that focus on the analysis of data to help organizations make informed decisions around human capital practices. In April 2008, Gartner named Infohrm to its “Cool Vendors for Human Capital Management Software” report.
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