Succession Planning And Talent Management Case Study

Succession Planning and Talent Management:

North Shore-LIJ Health System (NSLIJ), Virtua, Moses Cone Health System’s (MCHS)

Soham Shah

Succession Planning and Talent Management:

North Shore-LIJ Health System (NSLIJ), Virtua, Moses Cone Health System’s (MCHS)

Quality health care is precipitously deteriorating amongst the nation’s health care industry. The health industry trends of high turn over rates amongst staff and important key employees are creating a rift in profit margins, decreasing patient quality care, triggering higher expenses and loss of patients (Hunt, 2009). In the “Best Practices in Health Leadership Talent Management and Succession Planning” case studies, presented by the National Center for

Those who are in this category also help the ones in the middle acquire additional skills” (NCHL, 2010). VIRTUA differentiated their company’s strategies from others through a grading system that involved supervisors, nurses and managers to interact with all employees as a whole firm, rather than individual sectors in the organization. Succession planning strategy and strategy for management talent engages an annual system of talent refinement and talent rebuilding, coined as the, “Best People Review (BPR). Annually, 500 managers select the right candidates for the right position. BPR provides incentives to the workforce, contingent on their values and performance demonstrated. The program is able to sustain their principal talents while constructing positive criticism to augment the areas of needs and improvement for each employee.

Talent Management Strategy The talent management is defined by the Five STAR program where managers “begin a process of cascading, aligning, and translating these imperatives into clear goals and SMART (specific, measurable, attainable, realistic, and timely) objectives that relate specifically to each of the five STAR points” (NCHL). The programs institutes and refines goals, stipulates accountability and heighten company objectives correlating with each employee’s potentials. The principles of the succession planning and talent management strategy are to review and assess key talents to foster innovation and advancement in their careers.

Principles, Practices and