B.E. Smith Team | June 06, 2017
Impact of Leadership Turnover
Turnover, it is a challenge familiar to healthcare organizations and executives. The industry is consistently among the top in regards to turnover rates from the C-suite to front-line staff. The American College of Healthcare Executives recently released their annual survey reporting 18% CEO turnover in 2016. The rate, which has held steady for the past three years, is slightly lower from the record high of 20% reported in 2013. It is also among the highest rates calculated in the last two decades.
Executive leadership turnover is particularly troubling for healthcare providers as it brings significant financial, operational, and clinical risk. B.E. Smith released the below infographic exploring this continuing trend. It examines how CEO turnover can trickledown through an organization, disrupting momentum and robbing an organization of experienced professionals and future leaders.
Read B.E. Smith’s full report on healthcare executive turnover, Turnover to Triumph. It explores the five drivers of turnover growth in healthcare as well as provides five strategies organizations can utilize to minimize risk and avoid turnover at the executive level.
ACHE’s president considers the elevated levels of healthcare executive turnover as the new norm. The rate of change in hospitals and health systems underscores the importance for organizations to focus on developing talent while also building strong external partnerships capable of recruiting highly experienced healthcare professionals from outside the organization.