Medstar Company: a private non-profit entity, has been on the economic limelight for its ever increasing returns since the 2012 national financial analysis. The company as a single entity pumps a whopping $311 million annually into the national economy the company has a total of 10 hospitals in a number of states with medical services that cover both inpatient and outpatient, it also finances over hundred charity campaigns throughout the states. All these achievements are attributed to their vast and experienced human resource of over 29,000 associates and 5,600 physicians (Akhavan & Shahbazi & Fatehi, 2017). To keep their services in check, the company trains 1,100 medics yearly. Its dedication to the health industry and professionalism has earned it many awards throughout the facilities they operate, thanks to their motto; compassion and clinical excellence with customer care emphasis. As part of their compass, the company weaved a motivating motto in 1998 during its inception; be the trusted leader in caring for people and advancing health; with every success comes numerous risks and challenges, Medstar has also had its share of tough managerial decisions to make to avoid a crisis (Lazaroiu, 2015). Some of the major problems the management has had to critically think about are; increase in pressure on their workforce as the customer demand escalated on all its facilities. The pressure was also reciprocated on its financial base as it had to strategize on how to increase its facility capacity size and equipment to meet the demand.
The worst of the storm hit the company when the medics and subordinates starting resigning due to an overload in work pressure and salaries that they felt did not meet their job output (Serneels & Lievens, 2018). To avert this crisis, the managers from all the facilities had to sit on a round table and scheme a way out of it; the propositions on board were; specialize on some medical services and leave the rest to other medical facilities, the foreseen outcome of that was that there would be a drop in revenue and also a cut in the workforce. That option was vile. Another option was that they cut the number of charity services they offer; the outcome of that would be that the society will lose its trust on the organization and the probabilities of customer lose would be high. Many suggestions were brought on board but it was evident that the options had to be carefully weighed lest the whole company risked a blow on its assets and liabilities (Lazaroiu, 2015).My proposition for this crisis would touch on one of main key problems; employees’ resignation, but the positive effects of that will touch on the other two problems. An equation can be drawn from this problem because it follows a clear pattern; an increase in resignation leads to an increase in work pressure on the remaining task force. An addition to that equation would be; the increase of work pressure leads to a similar increase in resignations (Akhavan ; Shahbazi ; Fatehi, 2017).
The third equation would be; a decrease in the work force would lead to a reduction in the number of services or more so in excellence of the services; that would culminate to immense loses and ultimate closure of the entity. My approach starts at the core of the whole company; human resource. The whole psychology that leads to one resigning is if he or she feels mistreated and does not have a voice to air his grievances, or if he was able to speak out then his grievances have never been addressed. I propose that each facility send more than 5 representatives each department in the weekly board meetings, the reason behind this is for the top executives to hear the grievances straight from the workers mouth. When managers are the only ones welcomed they usually tend to foresee the problems they face because they fear being seen inefficient. From that, the grievances can be classified into; urgent and regular classes (Vimalanathan ; Babu, 2014). This will enable the executives come up with plans ease the tension and it better still share the plans with the workers to instill a sense of trust in them. Problems that cannot be solved urgently will be elaborated to make the workers understand the situation and foster patience in them.
I propose that managers be instructed to use motivation as a communication tool rather than just giving commands, this will inspire a one on one interaction that will lead to an increase in commitment levels among workers (Serneels ; Lievens, 2018). This option will see a drop in the number of resignations and retain the customer base and market share.Motivation has to be further fostered by giving rewards to workers that perform extraordinarily at work. Well, this will have to be initiated by the finance department but the company should not look at it as give-away cash but an investment. Pleased workers bring about an increase in profits because of efficiency. Better still, the company can partner with other social organizations and reward vouchers or all-expense paid trips for vacation destinations.
Only by pleasing the workers will the profits increase and the expansion of the facilities be done without financial strain (Vimalanathan ; Babu, 2014). Collaborative engagement has been vouched to be the most efficient way to run economic companies as it reduces squabbles and enhances workers commitment. However, to achieve means will need regular checks on the management to that it does apply pressure on the workforce when they underperform.