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How talent management drives your organization's goals

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A recent study categorized 130 hospitals as either low or high performers based on their talent management strategies. Discover how and why those top healthcare centers outperformed their lower performing counterparts.

Publicado en: Reclutamiento y RR. HH.
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How talent management drives your organization's goals

  1. 1. LEARN MORE *For the average-sized hospital, defined by the study’s mean FTE (full-time employees). TALENT How TALENTMANAGEMENT drives your ORGANIZATION’S GOALS HEALTHCARE ORGANIZATIONS’ TALENT MANAGEMENT PRACTICES ARE REFLECTED IN EVERYTHING FROM TURNOVER RATES AND BENCH STRENGTH TO VALUE-BASED PURCHASING (VBP) AND OPERATIONAL EFFICIENCY. A RECENT STUDY CATEGORIZED 130 HOSPITALS AS EITHER LOW- OR HIGH-PERFORMERS BASED ON THEIR TALENT MANAGEMENT STRATEGIES. DISCOVER HOW AND WHY THOSE TOP HEALTHCARE CENTERS OUTPERFORMED THEIR LOW-PERFORMING COUNTERPARTS! Skilled staff and well-trained leaders are critical to delivering quality care – so how do high performers fare against lower performing hospitals? 01 TURNOVER RATE01 TURNOVER RATE 91% LESS overall staff turnover per year 85% LESS yearly turnover amongst executives (VP & above) 36% LESS nursing turnover, which could save over $5 million/year* A commitment to talent management helps recruit top candidates and proactively develops your future leaders. How do the two hospital groups fare against each other? 02 TALENT SHORTAGE02 TALENT SHORTAGE High-performing hospitals reported a leadershipbench strength score of over 7X HIGHER 89% LESS spent on executive searches, which can result in savings of over $1.19 million* This links quality of care, organizational efficiency, and patient satisfaction to incentive payments and reimbursements. How does this translate to a performance difference? 03 VALUE-BASED PURCHASING (VBP) 03 VALUE-BASED PURCHASING (VBP) 23% HIGHER Total Performance Score (a new CMS metric which evaluates hospitals across process of care, patient experience, outcomes, and efficiency domains) 16% LESS average Medicare spending per episode 13% HIGHER HCAHPS scores OVERALL, HIGH-PERFORMING HOSPITALS DEMONSTRATED GREATER EFFICIENCY, WITH A NET PATIENT REVENUE PER EMPLOYEE THAT WAS OVER 56% HIGHER THAN THEIR LOW-PERFORMING COUNTERPARTS. Learn more about how talent management can deliver higher patient satisfaction scores, reductions in turnover, stronger staff performance, and an overall healthier bottom line. © 2015 Cornerstone OnDemand, Inc. All Rights Reserved. Sources: Groves, Ph.D., Kevin. “Impact of Talent Management Practices on Financial, Workforce, & Value‐Based Purchasing Metrics.” Healthcare Talent Management Survey 2014. Date published: N/A. Date accessed: June 17, 2015 Cornerstone OnDemand is a global leader in cloud-based learning and talent management software. Our solutions help organizations realize the potential of a new world workforce. From recruitment, onboarding, training and collaboration, to performance management, compensation, succession planning and analytics, Cornerstone empowers a lifetime of learning and development that is fundamental to the growth of employees and organizations. To learn more, visit csod.com. *For the average-sized hospital, defined by the study’s mean FTE (full-time employees).

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