CEO Performance Planning & Appraisals - An Enhanced Partnership

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PREPARED BY James A. Rice, Ph.D. Practice Leader Kate Brecke Consultant www.IHStrategies.com February 2009 w w w.IH S t r at e gies .com 1
As hospital and health system boards explore ways to enhance the performance of their fiduciary duties, they quickly recognize their dependency on their CEO to guide and support their governance work. But how can the board be confident and comfortable that their CEO is performing his/her role effectively A central vehicle to assure CEO performance excellence is increasingly seen to be a new reliance on modern CEO performance planning and appraisal arrangements. While the business literature has extensive research into best practices for CEO performance management, the US healthcare sector has only recently begun to raise the bar on its study of, and calls for such best practices. To help more boards enhance their CEO performance planning and appraisal programming, we conducted a short web survey in mid-2008. The findings are summarized in this White Paper. In discussing the survey findings with a panel of CEOs, it was informative to have these observations shared: Insights about the need for new Initiatives “We have good intentions, but too often are a bit behind schedule. CEO performance goals and measures need to be developed prior to start of fiscal year, but that does not always happen.” CEO in East Coast “We have a pretty good system, but I think the board looks at my annual performance review like a visit to the dentist.” CEO from North Central “We review my performance, but do not use the process to really help me think strategically about my career development, and rarely even discuss succession or continuity planning.” CEO from West Coast Recession Squeeze and Increased Scrutiny of Executive Performance and Compensation Puts Pressure on Great Leaders Our recent national survey of 125 hospital and health system leaders provides fresh encouragement for boards and CEOs to raise the bar on their future performance management systems. Although this survey is focused on CEOs, it is likely that parallel calls for enhanced leadership review and performance development could apply to the growing number of physician leaders and other senior executive officers. w w w . IH S trategies.com 2
Page 1: CEO PERFORMANCE PLANNING & APPRAISA
Page 5 and 6: Alignment of Review Criteria to Org
Page 7 and 8: From Appraisal to Appreciation and

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