The New Graduate Nurse Residency™ at Merakey

NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.

NB: All your data is kept safe from the public.

Table of Contents

Introduction
Analysis
Recommendations
Conclusion
References

Introduction

Nurse retention is an important goal for many healthcare facilities, and residency programs are one of the ways to achieve it. The paper analyzes the applicability of Versant New Graduate Nurse Residency™ to the author’s current workplace, Merakey. This organization is a not-for-profit provider focused on supporting vulnerable populations through educational, developmental, and mental health services (Merakey, n.d.). Following the case study scenario, there is new-graduate nursing turnover at the workplace, and the New Graduate Nurse Residency™ is intended to address this problem. Consequently, there is a need for a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis to prepare the organization for change. Despite the many weaknesses that may hinder the program’s implementation, it can solve existing problems and improve the organization’s performance.

Analysis

Considering Merakey’s current situation, one must include several features in the SWOT analysis. In particular, Merakey (n.d.) has a clear mission and vision to guide its employees (see Table 1). The organization provides quality services to its patients and welcomes diversity in the workforce (Merakey, n.d.). Versant New Graduate Nurse Residency™ can both support and enhance the company’s strengths. The weaknesses are that new nurses lack confidence, knowledge, and skills and are highly stressed (Van Patten & Bartone, 2019). These problems lead to low retention rates, poor motivation, job dissatisfaction, and high expenses (Pelletier et al., 2019). These weaknesses can hinder the program’s implementation, as it will require additional costs, and low motivation will cause resistance to change. However, the program can also address these weaknesses and reduce their impact.

The program offers other options in addition to overcoming existing weaknesses. The New Graduate Nurse Residency™ is a highly integrated and systematic approach that uses mentoring and feedback for nurses’ transition and improves their competencies (Versant, n.d.). The program can foster an organizational culture that enhances retention (Pelletier et al., 2019). However, it is essential to consider the threats that impact the organization. In particular, the nation’s aging increases the number of individuals needing assistance. At the same time, there is a worldwide shortage of nursing staff (Van Patten & Bartone, 2019). Moreover, competitors’ programs are always a threat and can lure employees.

Table 1. SWOT Analysis

Strengths Supporting the mission and vision of the organization. Quality patient care. Supporting workforce diversity (Merakey, n.d.).	Opportunities Using a highly integrated and systematic approach to transfer nurses to practice (Versant, n.d.). Using mentoring to support nurses. Providing feedback to improve practical skills and knowledge. Developing an organizational culture that supports retention (Pelletier et al., 2019). Addressing weaknesses.
Weaknesses New nurses’ lack of confidence (Van Patten & Bartone, 2019). Lack of skills and experience. Stress from a new job. Nurse retention rates (Van Patten & Bartone, 2019). The low motivation of employees (Van Patten & Bartone, 2019). High cost. Nurses’ job satisfaction (Pelletier et al., 2019).	Threats Population aging (Van Patten & Bartone, 2019). Global trends of the nursing shortage (Van Patten & Bartone, 2019). Competitor’s programs.

Recommendations

Conducting a SWOT analysis is an important planning tool in any organization. According to Shahmoradi et al. (2017), its application in healthcare projects is significant because even different departments may have contrasting goals and characteristics, which is essential to consider when making changes. For the current case, the analysis demonstrates that New Graduate Nurse Residency™ offers many opportunities, including overcoming weaknesses. As a result, its application is recommended to increase retention in the Merakey organization.

Conclusion

The current paper presents a SWOT analysis of the possible application of New Graduate Nurse Residency™ at the Merakey organization to address high turnover. The analysis reveals that the organization has strengths that the program can deepen. Simultaneously, there are many weaknesses that have the potential to impede change. However, the program provides an opportunity to address these weaknesses, and therefore it is beneficial to invest in it. External threats like competitors and global trends also affect the company’s performance. The New Graduate Nurse Residency™ takes such trends into account and will help counter them.

References

Merakey. (n.d.). About Merakey. Web.

Pelletier, L. R., Vincent, C., Woods, L., Odell, C., & Stichler, J. F. (2019). Effectiveness of a psychiatric–mental health nurse residency program on retention.Journal of the American Psychiatric Nurses Association, 25(1), 66-75. Web.

Shahmoradi, L., Darrudi, A., Arji, G., & Farzaneh Nejad, A. (2017). Electronic health record implementation: A SWOT analysis. Acta Medica Iranica, 55(10), 642–649. Web.

Van Patten, R. R., & Bartone, A. S. (2019). The impact of mentorship, preceptors, and debriefing on the quality of program experiences.Nurse Education in Practice, 35, 63-68. Web.

Versant. (n.d.). Versant new graduate residency™.Web.

Click Here To Order Now!

The New Graduate Nurse Residency™ at Merakey

Do you need this or any other assignment done for you from scratch?

We have qualified writers to help you.

We assure you a quality paper that is 100% free from plagiarism and AI.

You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)