Faced with a startling number of changes - healthcare reform, a tight labor market, government regulation, physician integration, electronic medical records, and workforce shortages, to name the most prominent - the healthcare industry is in a continuous state of evolution.
And the LEAP-Healthcare conference, held recently in Chicago, provided a rare and valuable opportunity for leaders in the industry to connect and share challenges, lessons learned, and emerging best practices.
Healthcare: Succeeding In an Industry in TransitionI was fortunate to participate in this exclusive conference that included about 60 leading CHROs, CLOs, and HR executives from top hospitals across the nation. They talked about the challenges they face in transforming their HR departments while delivering on strategies that enable their healthcare systems to both continue to deliver top-notch services and remain innovative leaders.
Some of the key trends discussed at the conference:
Technology Is Evolving:
All the hospitals attending were engrossed in implementing and integrating the latest technologies to align HR and talent management under one shared service model.
Data & Analytics Rule:
This comes as no surprise, but for the first time in the history of healthcare these organizations are achieving meaningful insights through data in an integrated and predictive format that should and can lead to actionable items.
Turnover Is at Hand:
Pending retirements for experienced workers and leaders, combined with a tightening labor market, demand effective succession planning and employee development strategies.
Millennials Are Speaking Loudly:
Young employees want a clear pathway to promotions with financial commitment and support for their educational progression to position them for career mobility within the organization.
Skills gap and employee retention data are increasingly being utilized to define and measure academic development as a strategy for career progression.
These points represent only a small piece of the talent management in healthcare puzzle. But they illustrate definitive trends that today's successful healthcare employers will need to address to remain successful in this new business climate. Finding creative ways to prepare for advents like Boomer retirement while remaining relevant to the young employees who will fill those holes will no doubt define the providers that ably move forward.