Financial Information Based On Current Literature

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Once resource needs are determined, a cost-benefit analysis is necessary to determine if the business strategy is feasible. Unfortunately, financial information specifically related to the PSETHI was unavailable. Therefore, the financial information is based on current literature. A projected organizational cost for the proposed MNMP is based upon the reported average RN mentor salary of $30.21 and the reported average newly hired RN salary of $26.04 in 2015 (Salary.com, 2015; Simplyhired, 2015). The MNMP will be a one-year program with each RN mentor and RN protégé averaging approximately 40 hours a week collaboratively for a total of 12 weeks, plus an additional 10 hours devoted to mentor training for the RN mentor. In reality, the RN mentor may have a total of four protégés within a 12-month period. Therefore, the total expenditure for the MNMP will be based upon the use of one RN mentor and four protégés over a one-year period. Further costs for the MNMP include mentor training fees and the salary for one nurse recruiter. Literature indicated that the cost for mentor training was approximately $22,000, including trainer fees, supplies, space, and informational resources (Be a Mentor, 2009). The average annual salary for a nurse recruiter is a reported $72,274 (Salary.com, 2015). Also, expenditures for male nurse recruitment must be considered and include advertising, interviewing, drug testing, and criminal background checks. Arnold (2012) reported that these costs
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