April 16, 2019 – A workforce struggle that spans the ages: overtime, which has its time and place in nearly every industry. But excessive overtime is a pain point for many organizations, burning out employees and driving up labor costs.
What constitutes an excessive amount of overtime in a healthcare provider setting? In general, a healthy overtime average for a typical provider organization sits around 3% – anything above that should demand leadership’s attention to what is causing it.
Before we get into this, let’s get on the same page with two key terms: Core Staff and Contingency Staff.
Core Staff: Staff members who hold an ongoing FTE commitment within a single department working within their FTE. As an example, a licensed professional who is full-time (1.0 FTE) in an ICU cost center is a core staff member for that cost center.
Contingency Staff: All hours, other than those worked by core staff members within their FTE. Examples include Overtime, Incentive Shift, Float Pool, PRN, Per Diem, and Contract Labor.
Click here to keep reading in The Staffing Stream.
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