One in five hospital CEOs leave their positions every year. In rural communities, turnover is even higher. Yet, that is only the tip of the iceberg, as nurses' and other key staff turnover rates are greater than one out of four, with critical care and emergency nurses approaching one out of three. However, only about half of the hospitals in the US have a succession plan at any level of the organization. In this presentation, audience members will learn and understand causes of turnover, how turnover has been affected by the pandemic, how it snowballs to other levels in the organization, and ways succession planning can help to not only manage turnover at all levels, but to reduce it.
Citing data from a variety of research studies and using the story of "The Art of Racing in the Rain" to illustrate organizations facing challenges caused by staff turnover, the presentation will discuss the place where races are won and lost: In the “curves.” Curves are often unplanned and unseen – waiting until one is in the middle of a curve is not the time to try to navigate it. The same goes for staff resignations. If organizations react hastily and take them too fast, they can lose control, spin out and stall. If they react too slowly, others can surely pass them by, leaving the organization in a worse position. However, by following three simple steps and planning in advance, organizations can anticipate and navigate these “curves,” coming out of the other side in control of their speed, direction and momentum towards the future. By focusing on the future through sound organizational succession planning, the right person will be placed in the right role at exactly the right time, keeping the organization moving forward.