When to Use an Executive Coach
If you are interested in engaging an executive coach, it is important to establish and understand your goals as a healthcare executive or physician leader. Following are the most common reasons our clients engage with a MEDI for healthcare executive or physician leadership services.
Leadership Development and Growth
Successful healthcare leaders recognize that challenge and change are constants in their personal and professional lives. They continue to look for ways to improve their performance and the performance of their colleagues and their organizations. Sustaining current success and meeting new challenges require ongoing evaluation and clarification of goals and actions. The MEDI healthcare executive and physician coaching program helps leaders and/or executive teams develop and execute strategies and actions that take their performance to that next level. In today's competitive environment, organizations with strong and adaptive leadership have a decided advantage over their competitors.
Transitioning Into a New Position
Helping a healthcare executive or physician transition into a new position from medical, nursing, finance, operational leadership into a CEO or senior executive is an enormous challenge. It has been estimated that over 50% of first-time CEOs fail within 7 or 8 years. Using the MEDI coaching model, we assist leaders in identifying and developing the attitudes, skills, and approaches required to succeed in their new role. Shorter transition periods, reduced risk of failure, and improved performance are distinct advantages achieved through assisted transition.
Refocusing Struggling Executives
Human resource, regulatory, environmental, relationship, financial, and operational challenges all impact an executive's or physician's ability to deliver required results. Without intervention, his or her tenure and the organization's future are at risk. Executive turnover is costly and disruptive. Continuity of high performing leadership with the capacity to adjust to changing circumstances is a distinct competitive advantage in a complex industry with high rates of turnover. The MEDI coaching model provides a much-needed objective third party who helps them gain the insight and skills necessary to recognize the need for change and overcome the challenges that limit performance and effectiveness.
Engaged, committed leaders, particularly at the senior management level, are critical to the success of any healthcare organization. Retirement and resignation are a reality, and while some turnover can be anticipated and planned for, no one can predict it every time. A smooth change in leadership is dependent on the existence of a formal and structured succession plan, which typically is put into place by the board of directors. MEDI coaches collaborate with executives and physicians who have been identified as potential candidates for a more responsible position should it become vacant so their transition into that role will be as smooth as possible. Through the MEDI coaching process, specific developmental areas are developed and rigorously followed to ensure the potential successor is prepared in every way to provide dynamic and effective healthcare leadership.
Employment separation happens. MEDI's unique approach to executive healthcare coaching helps healthcare executives leverage their strengths and experiences in finding a new position and organization where they can effectively contribute their skills and abilities. The MEDI out-placement coaching model helps executives identify the skills, attitudes, and attributes that will be required to secure a new position. The MEDI model has demonstrated the ability to find the appropriate job for the executive and potentially reduce the stress and cost of severance.