A major workforce transition is on the horizon.
Health care worker shortages have been well documented.
Complicated systemic problems require talented individuals to fix.
What’s a hospital to do?
Grow its own.
The war for talent. The coming brain drain. Mismanaged succession. In recent years, judging by steady increases in spending on talent management, workforce challenges like these have become top of mind for most companies, large and small.
The Millennials will only complicate matters. Their lack of organizational commitment makes retention difficult. That makes the Talent Management Department’s job that much harder. But, not impossible.
A dedicated talent management program is the first step to retaining the talent a hospital requires. BW reports on a recent joint study between IBM’s Institute for Business Value and Human Capital Institute:
Researchers found that large companies—defined as having 10,000 to 50,000 employees—do not only manage their existing employees more efficiently, but they are better equipped to plan ahead for the number of people and types of skills they will need to bring into their organization in the future. “Smaller competitors who haven’t done this work really scramble in a lot of cases when it comes to filling holes in their workforce,” says Schweyer.
The business world is truly in an intense competition for talent. If health care is to dig itself out from an unsatisfactory situation, it will have to compete with the rest of the business community for the best employees.
BW again, “All nonprofit industries studied—government, education, and health care—lagged behind the private sector in virtually all areas of talent management.”
Principle #31: For a sustainable health care future, our own system will focus on talent management. Bringing talented individuals on board and keeping them in the organization is a difficult task. A dedicated, workable, efficient, productive, etc., Talent Management program is a first step toward hospital-level transformation.