The millennial generation has surpassed Generation X and Baby Boomers as the largest segment of our nation’s workforce. In healthcare, millennials in their thirties are ascending to senior executive roles as well as CEO positions at independent hospitals and smaller organizations.
What does it mean for healthcare as millennials move into leadership? What do organizations need to know as they seek to recruit and retain millennial healthcare executives?
To begin to answer these questions, Witt/Kieffer surveyed more than 100 emerging healthcare leaders — those age 40 and under.Survey results and subsequent telephone interviews with respondents indicate that this generation of future healthcare leaders has a distinct set of expectations and concerns. We are pleased to share the report of our findings:
Many of the opinions shared can be considered typical of fast-rising executives looking to make their mark — for example, a desire for career development support — and can be addressed through thoughtful planning and organization-wide commitment. Meanwhile some opinions — a seemingly low level of concern about issues around compensation, for instance — seem unusual for individuals at the executive level and may indicate a different brand of leader is emerging.
The increase in millennial executives, coinciding with seismic transformations in the healthcare industry, presents healthcare organizations with a unique opportunity to learn from and with this generation, empowering employers to rethink the way they operate and pursue their missions.
Most respondents were very clear in their expectations of their organizations. One executive noted, “It is about leadership and whether or not they understand the unique nature of my area of responsibility; are committed to excellence; and are committed to advancing those who perform well.”
— The Witt/Kieffer Team