The ongoing rollout of the Affordable Care Act and the increasing demand to demonstrate the value of their services via clinical quality performance metrics is placing significant pressure on hospital organizations. These metrics include financial, workforce and value-based purchasing.
This report, The Healthcare Talent Management Survey, is a semi-annual survey administered to a national US sample of senior executives at hospitals and health systems.
Among other revealing findings, the report underscores the importance of following talent management best practices for healthcare. For example, hospital organizations with high (versus low) talent management best-practice scores:
- Demonstrated significantly lower annual turnover for executives (3.33%), managers (5.00%), and nurses (8.74%) (versus 19.95%, 15.21%, and 13.61%, respectively)
- Reported a mean employee productivity metric (net patient revenue/FTEs) of $173,484 compared to $110,748, which represents a 56.6% increase
- Are much more likely to report deep leader bench strength of "at least one 'ready now' candidate for key leadership roles (52% versus 7%)
In the report:
- Explore key findings and resulting practical applications of the latest Healthcare Talent Management Survey
- Learn about the impact of talent management and succession planning best practices and associated policies on numerous financial, workforce, and clinical performance metrics
- Discover a series of practical recommendations for enhancing talent management and succession planning capabilities
About the author
Dr. Kevin S. Groves is President of Groves Consulting Group and a Associate Professor of Management at Graziadio School of Business and Management.