Aphm talent mobility study ppt 021012

Brain Drain or Brain GainInsights into winning the global war for executive talent in healthcare

The Agenda

• Global perspectives on what attracts and retains executive talent across all industries

• What attracts and retains executive talent in healthcare specifically

• Original research into motivating factors concerning healthcare executives relocating to a different country

The War for Talent

• McKinsey & Co. research from 1997 originated the term, the ‘War For Talent’

• Key tenets:– Instil a talent mindset throughout the

organisation– Recruit great talent continuously– Grow great leaders– Differentiate and affirm what you offer

your best performers

The War for Talent

• Develop a compelling Employee Value Proposition (EVP):– Exciting work– Great company– Reward and lifestyle– Growth and development

Predicting Relocation Success

• Psychometrics involves the theory and technique of profiling a person’s predominant personality traits

• Personality assessment has identified important factors that contribute to adjustment and performance when relocating to a new country/culture

Factors Predicting Success

• Three types of adjustment competencies have been found to be important in predicting expatriate success:

1.Work adjustment: comfort associated with the job

2.Interaction adjustment: comfort associated with interacting with host country nationals both inside and outside of work

Factors Predicting Success

• Three types of adjustment competencies have been found to be important in predicting expatriate success:

3.Cultural adjustment - comfort associated with various aspects of the foreign environment, such as general living conditions, local food, transportation, entertainment, facilities, and health care services

What Motivates Executives in Healthcare

• Ccentric research into what motivates healthcare executives in 2010 throughout Australia and New Zealand

• Survey population:– 1,000 healthcare executives– 400 healthcare employers

What Motivates Executives in Healthcare

• We asked healthcare executives what are the most important factors relating to:– Job– Organisation– Reward

• We also asked healthcare employers what they thought executives are looking for when considering a new job opportunity

Herzberg’s Motivator-Hygiene Concept

• Frederick Herzberg’s theory• Factors in an employee's work

environment that caused satisfaction or dissatisfaction

• Satisfiers: Motivating factors• Dissatisfiers: Hygiene factors

Satisfiers and Dissatisfiers

Top Factors leading to Dissatisfaction:

– Company policy– Supervision– Relationship with boss– Work conditions– Salary– Relationship with peers– Security

Top Factors leading to Satisfaction:

– Achievement– Recognition– Work itself– Responsibility– Advancement– Growth

Executive Employee and Employer perspectives on the Ideal Employer

Ideal Job Characteristics

Executive Employee and Employer perspectives on the Ideal Employer

Ideal Job Characteristics

Implications for Employers

• Hygiene factors:– Competitive remuneration is important

• Motivating factors:– Challenging role– Ability to make a difference– Organisation purpose and culture– Quality of the organisation’s leadership

Implications for Executive Employees

When recruiting executive staff, employers look for:

• Job-related factors:– Relevant experience– Specialist job skills

• Personality or behavioural factors:– Cultural fit– Interpersonal skills– Leadership skills

• 418 senior managers working across the Health, Life Science and Healthcare Academic sectors

• 46% aged between 46 to 55, with 56 to 65 years representing another 26% of the sample

• The majority of the sample listed Australia as their current country of residence (82%)

• One-third of the sample in their current job for 2 to 5 years with another quarter for between 5 years and 10 years.

• Gender was almost equally split with 52% of the sample being male

Ccentric Executive Mobility Survey

Gender Split

MaleFemale

Part I – People Who Have Moved

• Focuses on respondents who have relocated country previously in their career– The following section highlights key

areas of difference between gender, age and position titles across key factors attributed to country, job, employer and remuneration

• 85% of the people who had moved country for career reasons said it was a positive experience

Moved - Employer Critical Factors

• In rank order, the following were the top five Employer factors1. Career opportunities2. Organisation reputation3. Leadership4. Opportunities to innovate5. CultureThese were universal across gender, although two other factors stood out for male respondents, that of Job Security and Mission and Values

Moved - Job Critical Factors• In rank order, the following were the top five

Job factors1. Professional development2. Challenging role3. Remuneration4. Make a difference5. Location

These were universal across the genders except for location which males placed more importance

• Salary was the dominant factor• Relocation assistance also an

important consideration• From a gender perspective, more

men rate leave entitlements as critical in their decision making process

Moved - Reward Critical Factors

Part II – People Who Would Move

• This part focuses on people who indicated they would relocate for a career opportunity

• An overwhelming 85% of respondents indicated they would consider relocating to a different country

• This next few slides highlight what factors motivate people to relocate in terms of:– Country,– Job,– Employer, and – Remuneration

• ‘Career opportunity’ and ‘increase in salary’ rank highest

• Women rated ‘family experience’ higher • Significant differences across age

segments, with younger executives driven more by career aspirations and increased salary

Motivators to Relocate

Where will People Relocate

• UK and Europe ranked highest at 63%• Australia, New Zealand, Asia and North

America also ranked highly with 50% of respondents indicating they would consider these regions

• A quarter of senior executives would consider relocating to the Asian region from Australia and NZ if the right opportunity is presented

• Highest ranking Countries were:1.Singapore2.Hong Kong3.China4.Malaysia5.Vietnam6.Thailand

Most Popular Regions in Asia

• ‘Quality of life’ by far the most important issue in terms of country

• ‘Personal security’ the second highest ranking factor of most importance

• ‘Cost of living’ and ‘Education and Health’ issues also very important

Would Move - Important Country Factors

• ‘Leadership’ the most important single factor

• ‘Organisation culture’ rated highest overall

• ‘Organisation reputation’, ‘supportive workplace’ and ‘mission and values’ also important

Would Move - Important Employer Factors

CultureLeadership

Organisation reputationSupportive workplace

Mission and valuesOpportunities to innovate

Career opportunitiesExecutive team

Company growth prospectsJob security

0 50 100 150 200

Most important2nd most important3rd most important

• Most important:– Remuneration– Challenging role– Work/life balance– Professional development• Males higher on several factors including the need for

recognition and purpose• Remuneration rated much higher for people who would move

(No. 1) versus those who had moved (No. 3)

Would Move - Important Job Factors

• 168 people reported they had relocated to a new country.– 63% male– 37% female

Gender Split – Have Moved

MaleFemale

• 247 people indicated they would move to a new country– 49% male– 51% female

Gender Split – Would Move

MaleFemale

Insights• As we have seen, a variety of factors

motivate executive talent and these can be broadly categorised into variables such as:– Country– Employer (ie. Organisation)– Job– Reward

• Winning the war for talent is relative, not absolute, it’s all about increasing your market share

Thank you

If you would like a copy of our full report on Healthcare Executive Mobility please email [email protected]

Web: www.ccentricgroup.comTwitter: @CcentricGroupLinkedIn: http://linkd.in/RMH44v