Early Strategizing and Flexibility are Key to Health Care Succession Planning
The health care industry is experiencing a critical gap in expertise as operations grow more complex and executives retire or step away.
As exits trend up, succession planning is a pressing challenge that many leading health systems in the U.S. are struggling to address. Whether a change among top leadership roles is planned or unexpected, its impact on the rest of the organization—and how the strategy for the next generation of leadership plays out—can have far-reaching effects on a system’s financial performance, employee retention and care delivery. There are three important considerations that organizations should take into account as they look to minimize disruption before, during, and after key leadership transitions. Recently featured in Forbes, SullivanCotter’s President and CEO, Ted Chien, highlights care organizations must:
- Start planning three to five years early
- Hire future leaders now
- Weigh the merits of internal verus external hires
