The cold truth: The average tenure of a hospital CEO is somewhere around four years.
That’s right, just four years. And the process of replacing a CEO for a health system of any size is no easy feat.
A recent study cited by HealthLeaders* found that half of hospitals and health systems lack a formal CEO succession plan. Knowing that, we’d safely bet that – beyond the obvious introductions – robust CEO onboarding plans are few and far between. Yet without a good executive transition plan, healthcare organizations are at risk for rapid executive turnover. This, in turn, can cause frustration and loss of trust within the organization, lack of continuity in strategic initiatives, and a sucker punch to the bottom line due to transition costs.
Learn more about Jarrard Inc’s Executive Transition work here: https://jarrardinc.com/executive-transition/
