In the most recent issue of the Birmingham Medical News, Jerry Callahan discusses “Succession and Talent Management.” Looking at the increasing turnover of healthcare practice managers in recent years, Mr. Callahan identifies his “Eight Myths of About Management” and offers tips on how to get managers motivated and headed in the right direction.
Foundation of a Great Manager
The roles of a manager are more complex than ever with revenue cycle management, human resource management, recruiting, cash flow management and financial analysis. And don’t forget that patient in your waiting area that is not exactly thrilled with their “patient experience.” As a result, healthcare employee turnover rates are greater than ever – 19.2 percent as compared to a national average of 17.4 percent in 2015.
So as we evaluate perceptions, myths and our daily lives, where does that leave us? While it is not a new term, I would suggest that we all begin to focus on daily talent management. The need for talent management and succession planning is critical in the healthcare industry, which faces shortages in all types of leaders (administrative, physician, and nursing), high turnover among leaders (driven in part by a large number of impending retirements) and front-line staff, and growing difficulties in attracting management talent from other industries.
How do we get talent management off to a great start?
- Start by identifying and hiring high quality candidates
- Develop values, goals and measurement criteria
- Consider strategic, operational and personnel requirements
- Invest in education and coaching
- Encourage and have staff share experiences
- Continually review your talent pool and make revisions as necessary