Managing your talent pool is incredibly important â€“ now maybe more than ever. In a down economy many executives focus their efforts on eliminating all hiring, freezing pay increases and in implementing other cost cutting strategies. While keeping an eye on the bottom-line those same executives are not focused on THE key strategy to survive this economy. Keeping and retain their senior team. Keeping and retaining top talent is one of the most critical success factors for executives and has the most impact on the organizations near term and long-term success. It can be the difference in your organizations success or failure. This is a real issue!
Weâ€™ve seen huge challenges in this economy. Clearly some areas of healthcare have been impacted and discussed in this forum (almost weekly). Developing talent management retention strategies may be viewed as overhead by some executives instead of a vital component of maintaining stability in the organization. NOTE TO SELF: In many cases having superior executive talent could be your only competitive advantage and the one key driver that can have the most impact on the success of the organization. Think about it! It is a very real issue! You must develop a plan today to keep your starting line-up from walking through the EXIT DOOR once the market turns! Many executives are wearing multiple hats, working longer hours and are growing tired of all of the increased workload and lack of compensation and recognition. Their career clock is definitely ticking. TICK-TOCK-TICK-TOCKâ€¦
Itâ€™s one thing to attract and recruit outstanding talent. It takes a different approach to keep them. Retaining top shelf talent has to be a top priority to get through this crazy market we are currently in. Failure to find ways to keep your key players engaged will likely result in a mass exit once the dust clears in this economy. That day will happen (for sure)!!
Losing key members of your team is not a good outcome so make a plan to keep them. Today!
One Year Later…
Posted on: 5.11.2009 7:40:02 PM Posted by Tim Tolan
It is so hard for me to realize that one year has officially passed since I wrote my first blog at Healthcare Informatics. Wow! Itâ€™s amazing. The time has just flown by for me. So much has happened since May 12th of 2008. I thought I would highlight a few major events (in no particular order) that help me realize just how quickly this exciting space has truly changed in just 12 short months:
– I no longer have to explain to people what healthcare IT is all about. Everyone has heard so much about this market and there is so much attention now with the American Recovery and Reinvestment Act. HCIT is almost main-stream. Now thatâ€™s progress! Go figure!
– The job market landscape (even in healthcare) has definitely changed. Just look at my very first post! Can you say meltdown! Many CIO’s and other HCIT executives will put off retirement for a while. Our financial markets have tanked, 401K’s and IRA’s have taken a bloodbath – but things are looking better. Good lessons have been learned by most of us. A good thing. The fear of the talent floodgates opening to drain the industry’s human capital pool has been temporarily delayed (OK – at least for a few years). Not the end of the world…
– I’ve had the chance to talk and get to know some of the brightest technology experts in healthcare in the United States. It’s amazing how many people in this industry have so much to offer and how willing they are to share information to help others in our space. I talk with CIO’s on a regular basis and now realize what it means to be an expert in your field! We have lots of experts in this field. Lots!
– Weâ€™ve elected our first African American President and the first one that has a broad understanding of the value that HCIT brings to the table. There are so many ways our industry can help reshape and drive meaningful value into our healthcare system and lower the enormous healthcare spend in the US. We will all be in the spotlight as the stimulus kicks into high gear. I hope EMR adoption finally has legs! Letâ€™s see what we can do. I know we can make a difference. It’s so exciting to be a part of it!
Finally, Iâ€™ve had a chance to meet and work with many of my fellow bloggers, writers and the wonderful team at Healthcare Informatics. It’s been a thrill to be associated with such professionals that share my passion for this amazing industry we all serve. I’ve heard from readers that read a post or an article and called me or e-mailed me for advice and feedback. That shows me that this forum is working and the content that HI provides means something to the HCIT readers that choose to participate. According to Anthony G readership, page views, time on the site and overall traffic continues to grow at a very nice clip. More goodness!
I can’t wait to see what the next year has in store. I just can’t wait!!!!!