Strong leadership is likely the single most important driver of overall organizational performance, and well-constructed talent management and succession planning systems remain critical to developing and retaining a deep bench of strong leaders. Nowhere is the need for effective talent management and succession planning more pronounced than in the dynamic, complex healthcare industry, where leaders face unprecedented pressure to transform their organizations so as to meet growing demands for high quality, cost-effective care. In fact, to meet the ambitious expectations of health reform (to reduce costs and simultaneously assure high quality) and to meet the goals laid out by the Institute of Medicine—that is, to deliver safe, effective, patient-centered, timely, efficient, and equitable carei— the industry needs to better prepare and retain men and women to manage the complex organizations that provide and finance care.

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