Recruitment Tips: Get It Right The First Time

1. Recruitment Tips: Get It Right The First Time Host: Peter Goodspeed, HealthTechS3, Vice President of Executive Search  Building Leaders – Transforming Hospitals – Improving Care

2. 1 45 YEARS OF DELIVERING RESULTS HealthTechS3 is a 45 year old, award-winning healthcare consulting and strategic hospital services firm based in Brentwood, Tennessee with clients across the United States. We are dedicated to the goal of improving performance, achieving compliance, reducing costs, and ultimately improving patient care. Leveraging consultants with deep healthcare industry experience, HealthTechS3 provides actionable insights and guidance that supports informed decision making and drives efficiency in operational performance. Our consultants are former hospital leaders and executives. HealthTechS3 has the right mix of experienced professionals that service hospital clients across the nation. HealthTechS3 offers flexible and affordable services, consulting, and technology as we focus on delivering solutions that can be implemented and provide a positive, measurable impact.

3. Strategy – Solutions - Support GOVERNANCE & STRATEGY • Affiliation Consulting • Executive & Management Leadership Development • Strategic Planning & Market share Analysis • Community Health Needs Assessment • Compliance Consulting Services FINANCE • Performance Optimization / Margin Improvement • Revenue Cycle & Business Office Operations • Productivity & Staffing Consulting - Optimum Productivity Toolkit CLINICAL CARE & OPERATIONS • Continuous Survey Readiness • Quality Assurance Performance Improvement • Lean Culture • Customer Experience • Clinical Resource Management • Care Coordination – Primary Care Practice • Physician Practice & Clinic Assessment • Long Term Care Consulting • Swing Bed Consulting • Perioperative Services Consulting RECRUITMENT • Executive Recruitment • Manager and Clinical Positions • Physician / Provider Recruitment • Information Technology Professionals • Interim Placement

4. INSTRUCTIONS FOR TODAY’S WEBINAR You may type a question in the text box if you have a question during the presentation We will try to cover all of your questions – but if we don’t get to them during the webinar we will follow-up with you by e-mail You may also send questions after the webinar to our team (contact information is included at the end of the presentation) www.healthtechs3.com The webinar will be recorded and the recording will be available on the HealthTechS3 web site: www.healthtechs3.com HealthTechS3 hopes that the information contained herein will be informative and helpful on industry topics. However, please note that this information is not intended to be definitive.  HealthTechS3 and its affiliates expressly disclaim any and all liability, whatsoever, for any such information and for any use made thereof.  HealthTechS3 does not and shall not have any authority to develop substantive billing or coding policies for any hospital, clinic or their respective personnel, and any such final responsibility remains exclusively with the hospital, clinic or their respective personnel. HealthTechS3 recommends that hospitals, clinics, their respective personnel, and all other third party recipients of this information consult original source materials and qualified healthcare regulatory counsel for specific guidance in healthcare reimbursement and regulatory matters.

5. Speaker Peter Goodspeed is an accomplished healthcare executive recruiter having more than twenty-five years of executive search experience. With his wealth of knowledge, Goodspeed is a proven recruiter when your hospital is searching for a knowledgeable and experienced healthcare professional whether for an interim or permanent engagement.  Prior to joining HealthTech, Goodspeed worked in various industries as an executive recruiter and spent many years with Witt/Kieffer Ford Hadelman & Lloyd, one of the largest healthcare search firms in the country. His clients included community hospitals, academic medical centers, hospital systems, HMOs and medical group practices across the country. Peter Goodspeed VP of Executive Recruiting, HealthTechS3

6. Recruitment Tips: Get It Right The First Times: Get • Before you start the recruitment process, pay close attention to the following: • Candidates consider the recruitment process a reflection and a close look at how the Senior Leadership Team functions and how important this position is to the hospital. A disorganized day reflects very poorly. Do you really care about the position. • Consider your HospitalBrand. What is your reputation locally and nationally. 69% of job seekers recently said they would not go to work for an organization with a bad reputation even if unemployed. 84% of job seekers recently said they would leave their current job if offered a position with an organization with an excellent reputation. • What is your culture? What are your values of the Senior Leadership Team and how do they interact with each other. What sets your hospital apart? Do your leaders walk the walk. Do you use employee surveys to take the temperature of your hospital culture. Hospitals are service organizations in the community and have a social responsibility to provide quality healthcare to everyone who is entitled to it. Are you hiring employees who fit your culture? Have you achieved the culture you want or are you still working towards it. How do you communicate this to candidates? • During the recruitment and interview process, are you communicating with the candidate in a way that demonstrates that you value them? Are you giving them an experience that is representative of what it’s really like to work at your hospital? Was it conducted in a first class manner? Again, does it reflect that you value the position.

7. Recruitment Tips: Get It Right The First Times: Get • To help you understand and improve your culture, are you doing Exit Interviews. You may not be able to convince the employee to stay but you can gather valuable information before they leave to help you improve employee development programs, strengthen your culture, uncover issues that are causing employees to leave, uncover management issues, uncover compensation and benefits issues, improve recruiting practices and identify job satisfaction. Ask “If you could change anything about your job or the company, what would it be”? What do you want to convey to the person you are interviewing?

8. Recruitment Tips: Get It Right The First Times: Get • Candidates have a vast amount of online information about your hospital before they walk in the front door. Make sure this information reflects as positively and accurately as possible. Companies like Glassdoor post comments about your organization by former employees. Like restaurant reviews, many times these are the first things that a potential new hire seeks out about the hospital and will read about you. Respond to those reviews. • Define your benefits. Prospective employees want more than just a good work environment. They are seeking benefits that are better or comparable to what they are receiving in their current position. Put the benefits on the hospital’s web site if possible. Make sure the VP of HR is on the interview agenda. • Make sure your compensation is competitive and be open to paying more for an excellent candidate. And make sure variable pay/incentive pay does not but too much emphasis on the objectives that are tied to the variable piece of compensation. • Announcements and ads: Focus on how the position meets the needs of the candidate, not the skill set needed for the position. • Don’t over-negotiate and make the candidate feel that he was beat up during the final negotiations. Don’t be heavy handed. This is the start of a relationship with the new employee.

9. Recruitment Tips: Get It Right The First Times: Get So you did everything right but the new employee still leaves after the first year. And he is the third VP in 3 years. Maybe the third CFO in 3 years. How could this happen. There are always potential issues to look at. Some are related to the recruitment process and some unrelated. Some are situational. • What was the candidates expectations as he/she was joining the hospital, especially regarding salary, formal and informal responsibilities, authority, the culture, how the SLT functioned and worked together and how the Board of Trustees worked together? Were there surprises? Were there hidden agendas, anywhere? Were there any physician behavior surprises? Did you share financials with the candidate? Did you share JCAHO results? Did you share HCAHP scores? Was the candidate actually in a no-win situation but found out too late. Was the Board of Trustees all on the same page or were there multiple agendas at the Board level. Was the candidate in a no-win situation with the medical staff and would never survive the changes that needed to occur. And were there any local, state or federal laws and regulations being broken. • Be careful when you bring an executive on board at a salary much less than he was making. Not always, but sometimes it spells trouble. Did you meet the spouse and were they both excited about the move to your town or city? Did a child stay behind to finish their last year of high school and was the candidate and spouse fully on board with this? • Was the candidate and their family comfortable with the community? Comfortable with the schools? Was there a cultural with the community and people of the community? • Is the candidate someone you want to work with 10 hours a day for 10 years? Do they wear well? Do they demonstrate team work? Do they fit?

10. Recruitment Tips: Get It Right The First Times: Get • What are the consequences of a bad hire? • Making the wrong hire, especially in a key leadership position at a hospital, can have a significant cost to the organization. It can go far beyond the salary and expenses paid to the individual. Throughout the organization, the cost to replace someone is usually about one-fifth of his or her salary. But turnover of as senior person goes beyond financial costs. It also causes disruption within the entire organization, the possibility of alienating board members and physicians, hurting the productivity of other members of the leadership team, the possibility of the position being vacant for another 6 months, losing organizational momentum, stretching other SLT members too thin as they take over the responsibilities of the vacant position, hurting morale and hurting the financial results of the hospital. • Get it right the first time. Take the time to hire the right person who will be a valuable member of the SLT and community for many years. It is worth it. Thank you

11. Thank you! Dallas Office Brentwood Office Our Phone Email / Website 2745 North Dallas Parkway, Suite 100, Plano, TX 75093 5110 Maryland Way, Suite 200Brentwood, TN 37027 Main Office: 615.309.6053 Executive Placement: 972.265.4549 Peter Goodspeed peter.goodspeed@healthtechs3.com