Healthcare, like many other industries, is fast-moving and constantly changing. OLD NEWS! This rollercoaster ride may get faster, bumpier, and experience glitches along the way.
Let’s be honest, we all don’t like rollercoasters. That feeling like your heart is about to jump out of your chest doesn’t appeal to everyone. There is a way to slow down the internal rollercoaster
Assume that year after year your business is running smoothly; like a well-oiled machine. Your company is profitable, and your employees are excited and grateful to be working for a company that values their contributions. Your succession plan is airtight, and your recipe for retaining talent becomes the subject of water-cooler conversation. WOW- pat yourself on the back for a job well done! With all this success, do you take the time to identify your blind spots or explore new opportunities? If so, you’ve got this in the bag and no need to read any further, pass GO, and collect $200.
However, if you’re open to ideas that may improve the way you do business, read on and select the nuggets along the way that resonate with you.
You’ve likely heard the term before, SWOT Analysis (Strength, Weaknesses, Opportunities, Threats). I refer to it as a PULSE CHECK. It’s a useful technique for gaining insight into what’s working, not adding value, open opportunities, and potential threats. Below are a few examples of questions to explore in each category.
Strengths (internal/within the organization)
- What do others (external) mark as your strengths?
- What do you do that is better than what others are doing?
- What advantages does your organization have?
Weaknesses (internal/within the organization)
- What do others mark as your weaknesses?
- What factors led to missed opportunities?
- What should you avoid?
Opportunities (external to the organization)
- What interesting best-practices are out there?
- What are some changes in the population you serve?
- Technology changes
Threats (external to the organization)
- Are quality standards changing?
- What are your competitors doing?
- Policy/regulatory changes
BENEFITS of a SWOT analysis:
- You can take a moment to step back and breathe; celebrate successes and chart a path for the year ahead
- You can identify your blind spots. What might you be missing? There may be other opportunities you can capitalize on
- You can leverage your strengths. Continue building on the methods that have worked well in the past and tweak where necessary
- This process can help you develop business goals and strategies for success
TIPS for maximizing this technique:
- Do it annually, at a minimum, even if your company is doing well. The earlier in the year, the better your momentum will be. TIME flies while you rest on your laurels
- Include front-line employees in the process. Doing so will message that their opinions and ideas are valued. A periodic employee satisfaction survey just doesn’t cut it
- Employees must feel safe to share their insights and opinions. If they can’t speak freely, hire a consultant or other external source to help facilitate these discussions
- No need to be fancy. Get a flip chart, book a conference room and start brainstorming
- Break people up into groups. Ideas may get lost if the group is too large (max 10 participants per group)
- Communicate your plan to engage front-line employees. Get everyone involved and excited about the process
- Follow-up on the strategy post-SWOT sessions
- REPEAT! Commit to making this an ongoing activity in your organization
INTERESTED IN LEARNING MORE? HIT REPLY TO CONTACT ME FOR A PULSE CHECK
When you schedule your FREE pulse check, you’ll learn:
- How to develop a collaborative and action-focused strategy
- Practical tips on how to maintain your momentum
- How a SWOT roadmap can be a value-add for your toolkit
- Ways to boost staff performance
Thanks for checking out the article!