Utilization of hygienic products to help nurses feel relaxed and safe from occupational infections. The project will take approximately eight months to complete, as the infrastructure has to be changed and renovated. In addition, we considered whether or not there was enough room for fifty to sixty nurses and whether the nurses felt like they had the kind of supportive environment they needed to do their best work. The plan is based on the assumption that providing a comfortable space and taking care of the needs of the nurses will help increase their satisfaction level, eventually improving the quality of healthcare they provide to the patients.
Justification for the Capital Acquisition
Research has highlighted that nurses’ motivation is one of the significant aspects of quality healthcare and helps in staff retention (Karaferis et al., 2022). Thus, renovating the facility to help the nurses feel that they belong to the place is a critical responsibility of the nurse leader. These renovations will benefit the nurses by providing staff-centered changes to help them feel comfortable and interact with their colleagues in a positive environment. Researchers have highlighted that a positive working environment helps enhance the staff’s productivity and allows them to perform at their best to enhance the organization’s overall outcome rate (Zhenjing et al., 2022).
This change will also boost nurses’ productivity, empower them to take patient care more seriously, and align their practices with the company’s goals. Thus, calm, self-assured nurses will be better able to provide patient-centered care, listen to patients with empathy, and provide the most effective care. A study has highlighted that if the nurses’ emotional, physical, and psychological needs are not met, their ability to support and serve patients and their families is compromised (Pedrosa et al., 2020); thus, the changes in lounges are an effort to meet the needs of the nurses.
NURS FPX 6216 Assessment 4 Preparing and Managing a Capital Budget
Employee satisfaction improves care quality, which holistically serves the organization’s goal and mission of providing patient-centered care, as staff motivation increases productivity and leads to more proactive and patient-centered care for patients. Providing a lounge provides nurses with an area where they can relax after a hectic day; moreover, having a space designated to the staff can help them feel valued by the organization, fostering a positive and cooperative working environment . Furthermore, the executives are expected to approach this budget positively, based on reducing the turnover rate and improving patient outcomes and satisfaction.
The alternatives to this would be centered on performance reviews and incentives for the staff; however, this would assist in recruiting and retaining staff members. These changes, such as providing incentives or performance based incentives, only cater to their external motivation aspects; however, as reported by the nurses, the core reason for leaving the job is the depressing environment, thus, only increasing pay would only temporarily retain the staff, while a holistic effort targeting the intrinsic and extrinsic motivations can have lasting effects.
Preparing a Capital Budget
The current budget’s implementation is planned for the next eight months. The preparation of the budget begins with data collection and identifying the needs of the nurses through interviews and surveys. The plan was based on the assumption that the budget aims to provide a supportive, less stressful, and positive environment that helps the nurses feel comfortable and motivated. The following budget total and division were provided in Table 1 (Appendix 1). However, a few areas of uncertainty are related to the leadership and workload that may have been a significant factor in high turnover. Another uncertainty is regarding the effective maintainence of the lounge as it may require additional costs if the lounge is not adequately maintained, posing a threat to the budgeting process.
Process of Calculating Cost
The data was collected from different vendors and market surveys to understand and analyze the current prices of the suggested changes, then the vendors were invited to put in their quote for all the ascribed changes, and the best suited vendor quotation was selected by the CFO and CEO. The process of calculating costs was based on the payback period (PP) method which aims to estimate the number of years required to take back the initial investment (Mollah et al., 2021). The finance team will be responsible for cost calculati
Struggling with online classes or exams? Get expert help to ace your coursework, assignments, and tests stress-free!