Issue link: https://beckershealthcare.uberflip.com/i/1507870
26 CEO / STRATEGY So many challenges for healthcare execs, but some stand out more By Nick Thomas T he opioid crisis, adoption of telehealth and better use of data are just some of the issues uppermost in healthcare executives' minds, as well as the ever-present labor crisis and bringing innovation into everyday practices. at's what Becker's found talking to almost 100 executives across the country and asking them what their priorities are for the next few years. But a couple of issues stand out from their responses as arguably the keys to all-round success: optimal staff retention and collaboration, and real progress in health equity. "e COVID-19 pandemic reminded us why it's so important for health systems to have a talented workforce that thrives and stays engaged with their crucial work for our patients year aer year," said Daniel I. Simon, MD, chief scientific officer and president of academic and external affairs at University Hospitals in Cleveland. "e evidence is clear; caregiver engagement is an essential ingredient in high-quality outcomes." Vaccine equity is a major focus for Downers Grove, Ill., and Milwaukee-based Advocate Aurora Health. A key to eventual success in that and multiple healthcare issues is true collaboration between front-line workers and the C-suite, said Christine Larson, RN, vice president of operations at the health system. By targeting higher levels of engagement and participation from "e success stems from a variety of creative programs to attract caregivers and keep them engaged at UH, from a daily morning newsletter with self care tips, to recognition programs for exemplary work, to our novel program that allows caregivers to be paid for 'volunteer time off ' they spend with service organizations in our community," Dr. Simon said. University Hospitals executive leadership team also conducts extensive rounding visits to hospital and ambulatory locations to stay connected and has six new employee resource groups to promote diversity, equity and inclusion. ompson Health in Canandaigua, N.Y., has a recruitment and retention operations committee that meets weekly to establish targets for improving the hiring process and make improvements to retain associates longer. e system also established a healthcare education fund to assist CNAs in becoming LPNs, RNs and then NPs. "e fund is covering tuition as well as stipends so our associates can work part time while they attend school part time but can still bring home a full time wage and pay their bills," said Michael Stapleton, president and CEO of ompson Health. Jeannine Nosko, vice president of patient care and CNO of Aspirus Wausau (Wis.) Hospital, is also focused on staffing models and innovation through the end of the year. Her health system is creating new positions to evolve the workforce. "We are implementing new roles such as ambulatory aids to bolster our bedside workforce," she said. "We are expanding our patient visual monitoring system to maintain oversight and safety, while creating efficiency and time for our bedside nurses. In addition, our leadership team is planning efficiency studies to improve our workflows for the front line. I believe technology solutions and alternative models are the future of healthcare." n CEO role losing some luster By Molly Gamble A t one point, rising to the CEO position was considered the pinnacle of success in business. Now, a combination of factors has people setting out for other seats in C-suites. In the corporate world, Fortune has found some up- and-comers do not yearn to hold the position of CEO. Industrywide, factors that contribute toward the loss of luster for the chief executive job include intensified difficulty with labor as strikes are on the rise, the political climate, the pressures of being the public face of a firm, and increased pay for executives surrounding the CEO. CFOs have seen the greatest pay boosts, Fortune found in its analysis of Equilar data. Among the 10 companies in the Fortune 20 that shared the salaries of both CEO and CFO over the past 10 years, the CFO pay rose from an average of 34 percent of the CEO's pay in 2012 to 44 percent of the CEO's pay in 2022. General counsels have also seen pay increases. Among the three companies in the Fortune 20 that could be compared over the past 10 years, the general counsel's pay as a percentage of the CEO's pay grew from an average of 18 percent to 34 percent. Pay increases for jobs surrounding the CEO may be due to change in the scope of work, more job-hopping or negotiations that come with executive mobility, governance involvement in the narrowing of C-suite pay gaps, and less scrutiny of pay compared to CEOs. "Certainly there are outlandish pay packages," Alan Johnson, a compensation consultant who focuses on financial executives, told Fortune. "But when you're getting beat on, the focus is almost always on the CEO. No one asks about the No. 2, 3, or 4 job." n