What Healthcare Organizations Never Expected from their Talent Management System
“The team with the best players wins.” – Jack Welch, American businessman and former chairman and CEO of General Electric
The thought certainly rings true in the healthcare industry today. As the move toward value-based care puts more and more pressure on organizations to produce the best outcomes while keeping costs down, the need for the high performing clinicians and staff members is becoming more pressing than ever before.
Competition for these players, however, remains spirited – if not cut-throat. According to the most recent Bureau of Labor Statistics projections, 5.6 million total hires will be required to meet healthcare needs between 2010 and 2020, which includes both replacement and new positions, and represents a 34.5 percent growth rate (net new jobs). Registered nurses alone account for 712,000 needed hires (no. 1 among all occupational groups nationally), and home health aide openings will require 706,000 (no. 3).
The big challenge for healthcare organizations: Not only finding a means to put together the best team but to keep them on the field, and playing at optimal levels in a manner that enables them to cost effectively improve the quality of care.
Talent management software can help organizations select, hire, and retain the best employees and take them beyond their potential in support of such goals. Here, Robin Stimac, Director of Healthcare Strategy at Infor, explains how an integrated talent management solution can help organizations succeed by:
- Reducing turnover by engaging new employees from the get go. With a robust talent management system, healthcare organizations can more effectively engage their new hires and personalize the pre-boarding and onboarding process of new employees. By doing so, organizations are creating loyalty to their institutions before employees even walk in the door – and thus, reducing turnover down the line.
- Improving “time to productivity” by streamlining the onboarding process. A talent management system that is integrated with the human resources (HR) system of record and learning management system can help organizations streamline the onboarding process – making staff members productive sooner, rather than later. An automated onboarding solution can push all of the information that staff members need directly to them – everything from where they need to report to how they need to dress to the policies and procedures they need to follow. As such, all the “i’s” are dotted and “t’s” are crossed from a regulatory standpoint and staff members can assimilate into the work culture quickly.
- Enhancing performance by identifying performance gaps – and filling them. With an integrated talent management suite of applications in place, organizational leaders can identify exactly what is needed to be successful in any particular job or role. Then, when performance reviews and career assessments are completed within the talent management system, a healthcare organization can easily see the skills and abilities available across the organization and identify gaps. By linking performance reviews and developments plans to a learning system, staff members can immediately gain the knowledge needed to fill in the gaps – making it possible to create a team that truly has the skills needed to succeed.
- Coaching players to reach their full potential. Recruiting and educating clinicians and staff members is just the start. From there, organizations need to ensure that all clinicians and staff members are performing at top levels to succeed under value-based purchasing models, which specifically reward organizations based on patient care outcomes and patient satisfaction. While a talent management system can help to objectively assess clinician and staff member performance, it is important to understand how this individual performance relates to overall organizational performance. Advanced workforce analytics can pull information from your talent management, clinical and financial management systems to give visibility to how talent initiatives and staffing decisions impact patient outcomes and the true cost of providing care. With healthcare specific measures, such as the time it takes to perform a procedure, costs allocated to specific procedures or episodes of care, staffing skill mix and related patient care outcomes, organizations can establish best practices and work with physicians and other caregivers to meet value-based standards.
For more information on talent management applications available through Infor, a New York City-based business application software vendor, please visit www.infor.com, or call Robin Stimac at 919-845-1942.