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Leadership continuity. Succession planning. In the abstract, these sound like topics that companies of all sizes should have on their "to do" lists. In reality, however, there should be more of an urgency attached to this topic…leadership continuity is an essential ingredient for an organization's successful future. The statistics about the future are very clear, and support the importance of planning for tomorrow's leadership today. Between 1996 and 2006, the number of people between the ages of 55 and 64 in the United States increased by an estimated 54 percent, while those between ages 25 and 34 was expected to experience a net decrease of about 9 percent. . Current leadership and future leadership—two populations going in very different directions. According to Nursing Management, with fewer young people entering the U.S. workforce as potential replacements for the vast number retiring, many organizations may lose up to 50 percent of their executives in the next four to five years. This combination of factors places even more importance on the need to plan for leadership continuity. A primary fiduciary responsibility of governance is to ensure ongoing leadership at the organizational level. CHE's Governance Charter notes that "The Board assesses and develops plans to identify future leaders at both the management and governance levels." In 2007, the Leadership and Compensation Committee of CHE's Board of Directors established a task force charged with developing a leadership continuity plan. Comprised of CHE and RHC/JOA Board members, Sponsors, RHC/JOA executives and senior CHE System Office staff, the Leadership Continuity Task Force's final report was recently approved by CHE's Board of Directors, and is in the process of being implemented throughout the health system. According to the Preamble of this Plan, "CHE recognizes the importance and necessity of excellent leadership in guiding CHE's ministries now and in the future. Leadership is particularly important in achieving our mission of being a transforming, healing presence in our dynamic healthcare environment. Therefore, planning for the continuity and smooth transition of leadership within Catholic Health East is critical to the achievement of goals and strategies consistent with our five pillars of excellence and ultimately to the success of the ministries." One important indicator of an organization's belief in and commitment to leadership continuity is its "track record" of promoting from within. On this measure, CHE has made great strides. Just a few years ago, a little over 30% of our executive leaders hired at the RHC and System office represented promotions from within our organization; in 2006, that figure rose to over 50%. Our goal has been to identify leaders from within who share our values and have the requisite experience and skills to ensure continuity of direction. Every RHC, as well as the CHE System Office, is charged with developing an individual leadership continuity plan by the end of 2007. Each plan requires a systematic process of reviewing talent; this process includes several levels of management and encourages professional growth and development of identified colleagues. This vigorous approach to talent management assists in retaining current top talent, is attractive to external talent and strengthens our commitment to diversity, proactive inclusion, and internal movement or promotion. As we demonstrate our commitment to investing in our colleagues through the leadership continuity planning process, we are convinced that success in this realm provides a competitive advantage for Catholic Health East., which in turn benefits our patients…and helps assure our ability to be a transforming, healing presence in the communities we serve for generations to come.
Sincerely yours,
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