How Succession Planning Boosts Employee Retention Rates
Brady has real-life examples of how LG Health has used this strategy to keep employees engaged and productive while also protecting its talent pool. She says it's not uncommon to take employees out of clinical roles and move them to administration. "We had a director of nursing who we thought could benefit and be benefitted by being in IT," she said. That nurse oversaw the implementation of the HER system, then went into LG Health's Health Access department, and is now in a population health role.
One criticism of leadership succession planning is that it can lead to people being pushed into roles they don't really want based on the needs of the company above the aspirations of the employees themselves. Brady resolutely maintains that this is not the case.
"No, we definitely don't do that," said Brady. "On our succession plan, we may have one VP appear in 3 different potential slots regarding where he could go. Every step of the way, we ask, 'What are your career aspirations? Where would you like to go?'"
Brady said that there are no downsides to succession planning that her organization has found, but that there have been many benefits. Their organization is performing above talent retention metrics published by PricewaterhouseCoopers, and LG Health a better developed, more nimble workforce.
"This policy has given us more insight into strengths of leaders and their competencies. It really allows us to be proactive in preparing for the future," Brady said.
Lena Weiner is an Associate Editor at HealthLeaders Media.
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