Leadership development empowers leaders, enhances trust, and creates employee and customer engagement resulting in a more aligned and productive workforce. Overall, leadership development:
Health systems are continuing to merge together at an accelerating pace. However, successfully capitalizing on the intended outcomes of mergers and acquisitions (M&As) has proven to be no easy task. For newly formed health systems, the failure rate of integration has been estimated at 70% - 90%. Health systems with poor integration of physician services and lack of alignment between executives and physicians tend to experience poor financial performance, higher costs, and lower quality of care.
There’s a new war for talent upon us as organizations face both planned and unplanned retirements coming out of the pandemic. We know that those companies with formalized succession plans are better prepared to respond to the increasingly competitive landscape for recruiting new talent and retaining existing talent.
Executive coaching is an essential talent development lever that contributes to the success of organizations, especially those in the healthcare industry which faces unprecedented challenges today. According to the Human Resource Executive, healthcare leaders’ top priorities in 2022 are employee wellbeing, leadership development, and overall employee experience. Due to the stressors of the pandemic, healthcare leaders spanning all sectors are experiencing increased feelings of burnout and declining mental health.
Healthcare organizations across the globe have spent the last year and a half trying to navigate their team through the COVID-19 pandemic and its tribulations. What is clear, is that those organizations who coalesced around a common purpose, aligned around the patient, and managed obstacles with strong leadership weathered the crisis better. Those without were bogged down by stress, overwhelm, and burnout. According to Mental Health America, 93% of healthcare workers are still experiencing heightened stress during the pandemic. Likewise, a large majority reported experiencing anxiety (86%), frustration (77%), exhaustion and burnout (76%), and overwhelm (75%).
Physician and nurse burnout is a severe issue that’s been plaguing the healthcare industry for years. Recognized by the World Health Organization as a syndrome resulting from chronic distress, physician and nurse burnout is a serious occupational phenomenon that has been accelerated and intensified by the COVID-19 pandemic.
Leadership development training for leaders in healthcare is crucial to accelerate individual, team, and business performance. During these tumultuous times, effective leadership supports the well-being and morale of teams and patients. In fact, ensuring that healthcare leaders are equipped with the right skills and mindset to be in a position of positive influence is at the forefront of many healthcare organizations’ priorities. Consequently, 52% of these organizations are currently naming physician and leader alignment as their top investment priority. Yet the same Huron survey shows that 21% of respondents report not having a leadership strategy in place.
As we enter the third wave of COVID-19, we are once again facing an uncertain future for leaders at all levels. One thing, though, is certain and that is the enormous impact of the pandemic on physician leaders. Physician leadership, which has always played a role in the alignment between hospital administration, medical staff, and the communities served, has become increasingly important as hospitals and health systems around the country embark on or continue efforts to strategically integrate with physicians. However, developing physician leaders can be a difficult undertaking. As we knew, before COVID-19, the skills that make a physician a fabulous doctor, don't necessarily correlate with being a successful leader.
The challenges resulting from the pandemic have overwhelmed even the most skilled and experienced leaders, whether they are physicians or not. The challenges demand navigating volatile, uncertain, complex and ambiguous conditions — a situation often referred to as VUCA. Physician leaders today need to shift constantly and decide in an instant with limited data — to be agile and adaptive.
Collaboration in healthcare teams is becoming the “go-to” strategy for solving some of the thorniest problems facing the industry. While critical to success, collaboration is no easy task. Clinical care and medical research have become more complex and specialized, requiring multi-disciplinary teams to come together often from multiple organizations. Healthcare systems, biotechnology, and pharmaceutical companies, and health technology start-ups are forming, merging, and/or being acquired at an increased pace. Because of this, administrative, clinical, and executive teams are being tasked with collaborating in new and different ways.
The problems facing the health industry are too complex for any one organization to solve alone. Improving health outcomes, access and affordability requires collaboration and coordination from diverse sectors, including life sciences, healthcare providers, payers, public health and services, and community resources. Developing the innovative partnerships and the leadership necessary to address issues like where to invest in R&D, how to implement technology solutions, pathways for clinical treatments, best practices in data sharing, etc. is crucial for success. This presentation focuses on the opportunity pharmaceutical leaders have in leading the future health ecosystem by building collaborative partnerships that have the capacity to add tremendous value to promoting health and wellness throughout the globe. We offer strategies for building and demonstrating health ecosystem leadership through case studies and practical learning applications that leaders can implement back on the job, with their teams and their organizations.
TLD Group partners with clients on the design and implementation of innovative and impactful leadership development solutions.
