"Workforce strategy doesn’t just “support” business strategy. It IS a business strategy. That’s never been more apparent or important."
Today we explore.
Today in health. It, what is your workforce strategy? My name is bill Russell. I'm a former CIO for a 16 hospital system. And creator of this week, health has set a channels dedicated to keeping health it staff current and engaged. We want to thank our show sponsors who are investing in developing the next generation of health leaders, actually part of a workforce strategy.
Though we are Gordian dynamics, Quill health, how site nuance, Canon medical, and current health. Check them out at this week. health.com/today. Alright, there was a post out on LinkedIn. Let me just head over here real quick. Pull this up. And Greg till EVP, chief people officer at Providence health systems wrote this workforce strategy. Doesn't just support business strategy. It is business strategy. That's never been more apparent or important.
He said this was about five days ago. It got a fair number of comments. , somebody commented. Craig tell people to find close to 90% of the S and P 500 market value. Of organizations and tangible assets today. And not PPE tangible assets. The value of the workforce is not reflected in the financial statements, so forth.
, let's see. I could not agree more. Greg agreed, agreed. Greg. I call the domain of people related business strategy, people as strategy, and unfortunately in too many strategy discussions and frankly HR discussions, people are generic or held. Sarah dis Paribas missing a key. Unlock in competitive advantage.
Interesting. , let's see we're in the business of people. So for the so on, absolutely. You know, we hear these kinds of things all the time. We are the business people. We are a people business. And, , , people know, people can look at it and say, yes, that is the case. This is a company that understands the value of its people and they do the right things.
. But people can also see when it's a disingenuous kind of statement as well. So here's what I'm doing at this week health and it isn't that much different than the 700 person it shop. I used to oversee, let me give you an idea of what my workforce strategy is. My people strategy, and I'll bounce back and forth between St Joseph's and this week health.
, the first thing is when bringing people in, I look for a cultural fit. Lead with mission. , if your mission isn't compelling enough, keep working on it. Your story should stir the imagination and the soul at St. Joe's. We talked about extending the healing ministry of Jesus Christ and the tradition of the sisters of St. Joseph. And then we told the stories, we told the stories of Jesus, his healing ministry was pretty amazing.
And we told the stories of the sisters. Who came here with coins in their pocket and founded this 16 hospital system, , in the middle of a pandemic a flu way back a hundred plus years ago. We talked about how they, , dug the foundation for the first hospital. They served the sick and they dug the foundation for the first hospital was shovels. These sisters did.
And, you know, you hear these kinds of things and you say, these are people who've lived it. And so that mission may resonate with you and it may not resonate with you, but if it does resonate with you, you wanted to work at St. Joe's and you were committed to working at St. Joe's.
At this week health, we amplify great thinking to propel healthcare forward. The age staff members we have, , over here all have a healthcare story to tell, and they say some form of this. We can make it better. And they come into work every day to try to make healthcare better. So I think the first thing is look for a cultural fit edge to bring people in. , the second thing is onboarding is critical.
Especially in this hybrid work world. Our staff at this week, health is a hundred percent remote. We spend the first two weeks onboarding before we ever give them a stitch of work to do. Two weeks to learn what we do, put their fingerprints on what we do, explore how their skills can be used in our mission.
, we spend time connecting with each other, learning about one another and building the foundation for the work we are about to do. Together. , this isn't to be left to chance. This has to be well thought out and orchestrated it involves leadership management and someone who is guiding the process. This is not a throwaway. We actually have a person at this week, health, eight people, and we have a person.
Dedicated to people and team development. So, , it's not a throwaway at our organization and it shouldn't be at your organization. Onboarding is so. , critical that's success. Number three managers don't just manage work. They nurture your most important asset. Your people. Do your managers know that that is their role. Are they nurturing people or just handing out assignments? Is there a department, a culture you would want to work in?
We did pull surveys in my time as CIO at St. Joe's and they would identify the problem areas every time. And it was, it was so obvious when you looked at the numbers, it's like, that's a good culture. These people like working here. Oh, what's what's going on in these two departments. , you know, how do you take pulse of your staff?
Even in our eight person team? It's important to take the pulse of the staff from time to time. And so we will do surveys and we will do other things to collect that information to know, is it working? Is it not working? And where can we get better? So managers are nurturers. They're not just people who Dole out work.
And I'll tell you, your managers are so important to the, , obviously the effectiveness of your people, but also their satisfaction with your organization. Number four is development. We have eight people and I have two managers right now going through a coaching exercise with an external coach to develop skills that they will need to manage their teams. As a CIO.
I recognize the very few of my seminar person staff had access to the proper development in their career. , that really wasn't acceptable. So we brought the training to them with it university. Where it leaders taught classes, actually other business leaders taught classes as well. We hosted town halls. We engaged vendors.
To bring in their experts to impart knowledge. , if you don't develop people, someone else will develop them after they leave your organization. So, , it's important to develop your people. And sometimes I hear this, we don't want to invest too much because we're afraid they're going to leave.
Quite frankly, it's a foregone conclusion. If you don't invest in them and you don't develop them, they will leave. And you'll never know what they could have been for your organization. , number five, I would say mentoring, identify the staff most likely to be recruited away from you. If you can't pay them more, perhaps you can invest in them personally and professionally in a way that builds loyalty.
Build a mentoring program between your top performers and your next level. , for formers. , so that you can, , you know, develop the next generation of health leaders, as they say, number six, performance reviews. How often is enough to do performance reviews. , these shouldn't have a negative connotation feedback on performance.
Is often cited. As a reason, someone moves on from an organization. They didn't know where they stood. They didn't know what role was next in their career. , they were in the dark. Don't leave your people in the dark. If you leave them in the dark, they will go somewhere else to find light.
Of course there's more to a people program or a workforce program. , now's the time to ensure that your program is working.
Does it take time to develop it? You bet it does. It takes time to develop it. It takes some resources and you have to really think through it. And you have to put some really quality mind time. , towards this end follow through, you got to build it out. You got to get it done, and it may not seem like the most important thing you have going on today.
But your people are the most important asset. , to your company. And so you have to invest in them. You have to grow them. And you have to nurture them. , and at the end of the day, it'll save you time because you don't have to hire new staff and train them. And to do it all over again. All right. That's all for today. If you know someone that might benefit from our channel, please forward them a note. They can subscribe on our website this week.
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