Business View Magazine - October 2018

364 365 BERMUDA HOSPITALS BOARD In the face of fast-shifting customer expectations, and technological and regulatory disruption, the question is no longer whether organisations need to transform, but how quickly, how to keep pace and how to deliver strong business results in this new environment. Case study: Developing a fit-for-purpose Talent Management Strategy at BHB In 2014, Bermuda Hospitals Board (BHB) partnered with PwC to develop a five-year strategic plan. To support this strategy, BHB wanted to think differently about managing its workforce, as the demand for staff far outweighed the local workforce supply. Adopting a ‘Build, Buy, Borrow’ approach to talent planning allowed BHB to segment its workforce strategies for replacing retiring staff and leaders. “PwC understood the unique challenges that BHB was facing and sought to design and implement a program that would drive immediate results in our staff perfor- mance, engagement, and leader development” says Scott Pearman, COO, BHB. PwC worked with BHB to define and implement its Talent Management Strategy, in- cluding performance management and succession plan- ning. Preliminary results were encouraging as the annual performance review completion rate increased by 300% and a succession plan was identified for key positions. ‘Talent’ means something different to every organisation, and for BHB it meant identifying those who consistently demonstrate BHB values and desired personal attributes, sustained performance, and leadership potential. Devel- oping a common definition of ‘talent’ is the first step in designing a talent management strategy which will help an organisation select, identify, and cultivate its future leaders, which PwC sees as critical to business trans- formation and sustainability. R.Scott Pearman,BHB COO; Venetta Symonds,BHB CEO&President; Angela Fraser-Pitcher,BHBVPHR; TrishNixon,PwCBermuda-People& organisation leader; GeorgeThomas,PwCBermuda-Consulting senior advisor A vision for sustainability: Building business capability through a culture of high performance didn’t quitemeet the needs of today,”saysVenetta Symonds,BHB’s President and CEO.“We knewthat we were going to have to bemore community focused, and rather than just focusing on howyou treat people when they’re sick,we needed to focus on prevention and howwe could deliver safe,high qualitycare,as well as followour ‘TripleAim’: Improve the patient ex- perience,Improve the overall health of our population, and Reduce the capital cost of care.” “So,we have reviewed the data fromour hospital, we have reviewed the insurance data,we have talked to the community,andwe have reached out to our stakeholders to try to understandwhat Bermuda is going to need over the next five to ten years,andwhat our services should look like,going forward,”Symonds continues.“Likemanyother developed nations,we have a population that’s generallyunhealthy,is getting older and an increasing number of whomcannot af- ford to payhealthcare premiums.So,it isn’t just having access,becausewe provide that access; it’s being able to afford that care.BHB is looking to partner with the community,with the government,with the insurers, andwith the regulator,to be able to provide that care. The 1970Act didn’t anticipate that wewould deliver community-based services,such as home care or have a group home for our mentally ill.If we followour