For a healthcare organization, maintaining continuous success in a highly competitive and, most importantly, increasingly challenging and strenuous economic setting is a tremendous challenge. Although the Asian Health Services (AHS) has managed to find a niche that has been allowing it to maintain dominance in the market for a while, the current approach has become quite outdated, calling for a change in the strategy. Specifically, what the company called its “Blue Ocean,” namely, a pool of opportunities for strategic marketing and active development, has largely depleted. By focusing on the management of its turnover rates and investing in the professional growth of employees and the expansion of the services, AHS will be able to find a new “Blue Ocean.”
The current policy utilized by Ahs seems to be geared toward sustainability and patient-oriented care. To its credit, the company has managed to introduce an effective strategy for handling financial risks, which is especially notable given the current economic circumstances and the challenges associated with maintaining effective financial performance. However, there are certain issues with the business strategy that AHS has been implementing; particularly, the lack of focus on the factors that shape employee retention and turnover rates should be seen as an important concern. Specifically, the observed trend may signal low levels of content among employees, which may entail a significant drop in performance and, therefore, a drastic loss of service quality. Due to the high levels of competition in the healthcare sector, the failure to maintain its competitive advantage is likely to cause the organization to ultimately dissipate. Therefore, AHS must revisit its corporate policies, particularly, those aimed at managing AHS’s human resources.
In order to develop the much-needed flexibility in risk management and ensure an increase in employee retention rates, AHS will need to shape its approach toward talent management. Specifically, AHS will have to prioritize the needs of its employees, providing additional benefits to staff members. These could include not only financial incentives but also training opportunities, which align with the idea of constant innovation that AHS should pursue to remain relevant. Indeed, studies show that the increase in the range of opportunities provided for staff members, particularly, in regard to the provision of professional development opportunities, affects retention rates positively, reducing the extent of staff turnover (Harris et al., 2020). The observed change can be explained by the rise in employee loyalty and engagement, as well as the rate of motivation among staff members (Harris et al., 2020). Therefore, the focus on professional development in the target population should eb seen as one of the highlights of the future change within the organization.
Furthermore, AHS will have to involve customers into the process of organizational decision-making to increase their sense of importance within the company. Namely, employees should participate actively in shaping the company’s policies and its organizational setting (Azizi et al., 2021). By providing staff members with a strong voice within the corporate context and cementing their impact on the organizational culture, AHS will be able to promote diversity and acceptance in the workplace environment, therefore, making it more acceptable of employees and their individual needs. Indeed, the existing theories of employee motivation point to the necessity to provide staff members not only with a chance to satisfy their basic needs, but also with the chance of self-actualization (Azizi et al., 2021). Specifically, according to Maslow’s Hierarchy of Needs, the specified requirement constitutes a vital part of effective management of employees’ needs and aspirations, contributing to the overall extent of their enthusiasm and engagement (Kurdi & Alshurideh, 2020). Therefore, the transition to a framework where AHS prioritizes the needs of its staff members as its vital stakeholders must be seen as a central part of the improvement process.
The changes outlined above are largely justified by the high level of stakeholder influence that AHS experiences. Being a healthcare organization, AHS is placed under significant moral and ethical scrutiny, which is why the organization must align with principal ethical standards (Azizi et al., 2021). The described change in AHS’s attitudes toward its staff and the organizational factors that affect their decision to leave is defined not only by the need to foster productive organizational relationships and collaboration, but also by the necessity to maintain a positive media presence, particularly, in the social media context (Malik et al., 2020). Therefore, it is strongly recommended that the change within the AHS setting should start with the reconsideration of its HRM approach.
The further investment into staff development and the promotion of employee retention along with the expansion into other communities, will allow AHS to continue to strive in the new setting. Specifically, the proposed technique will allow minimizing the problem of increased turnover rates by providing staff members with the reason to stay in the company. Since the proposed approach will imply offering employees extra options for professional development, the specified solution may also be regarded as a framework for investing in the human resources and, thus, introducing another competitive advantage into the organizational setting. The emphasis on employees’ professional growth and the introduction of the respective strategies that will also allow for the launch of incremental innovation and quality improvement within the organization will serve as another “Blue Ocean.” In other words, it will become the basis for the continuous innovation within AHS, being a breath of fresh air for the company’s strategic development.
References
Azizi, M. R., Atlasi, R., Ziapour, A., Abbas, J., & Naemi, R. (2021). Innovative human resource management strategies during the COVID-19 pandemic: A systematic narrative review approach. Heliyon, 7(6), 1-9. Web.
Harris, C. M., Lavelle, J. J., & McMahan, G. C. (2020). The effects of internal and external sources of justice on employee turnover intention and organizational citizenship behavior toward clients and workgroup members.The International Journal of Human Resource Management, 31(17), 2141-2164. Web.
Kurdi, B., & Alshurideh, M. (2020). Employee retention and organizational performance: Evidence from banking industry. Management Science Letters, 10(16), 3981-3990. Web.
Malik, E., Baig, S. A., & Manzoor, U. (2020). Effect of HR practices on employee retention: The role of perceived supervisor support. Journal of Public Value and Administrative Insight, 3(1), 1-7. Web.