In Healthcare, Is There a Link between Good Talent Management and ROI?

Although today’s healthcare organizations have well-developed talent management practices, few have an in-depth understanding of the return on investment these practices provide. To better gauge this ROI, Witt/Kieffer has supported the work of Pepperdine University professor Kevin Groves, Ph.D., who recently conducted a comprehensive survey of senior HR officers and other industry executives in charge of talent management within their organizations.

Dr. Groves’ work explores and draws conclusions regarding several critical issues:

  • There is a strong connection between good talent management and organizational performance.
  • Specific talent management success factors are indicative of high-performing hospitals and health systems.
  • Relationships can be found between these success factors and key workforce metrics such as turnover and diversity.

The research supports a variety of progressive approaches for developing a talent management strategy to meet the needs of today’s healthcare environment. The Executive Summary of Dr. Groves’ work—Success Factors in Healthcare Talent Management—captures the main findings, while the full 42-page report provides a much more comprehensive and granular view.

The key takeaway: Good talent management practices do indeed make a difference in healthcare.

By Paul Thomas, Witt/Kieffer Senior Writer (@PaulWThomas)

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