Member key leadership team, DDI, India
“Health is being ‘embedded’ in the growth story of the country as India charts an impressive growth curve that is being recognized at various global platforms.” -JP Nadda,Union Health Minister
Unlike a few decades ago, the Indian healthcare industry is attracting more and more companies looking to enhance their operations in the country, thereby creating a huge need for talented employees.
There are challenges ahead such as variation in health facilities between urban and rural areas, variation in public and private health services, and issues of regulation. Nevertheless, the industry is embracing infrastructural transformation coupled with high-end technological services and vital policy amendments and is targeting sustainable growth by 2030. Healthcare is expected to be one of the fastest growing sectors and in order to be a strong ecosystem it will need systemic changes supported by investor-friendly policies and collaborations.
Whilst most industries develop products and services keeping customer at the centre of everything, healthcare has traditionally been paternalistic in nature. However, the approach is shifting due to the changing nature of medicine, growing patient awareness and increasing penetration of the Internet. The industry is now talking about ‘Patient-Centered Care’, ‘Person-Centered Engagement’, and ‘Consumer Engagement’. In the move towards a patient-centric model, the healthcare workforce has a critical role in embracing this change and making the shift.
As patients become more informed, they are demanding uniform access to care and lower associated costs. Many countries are struggling to make incremental changes to address increasing costs, poor or inconsistent quality and inaccessibility to timely care, while other countries believe the only cure to this is a fundamental transformation of healthcare. Resolving these issues is a daunting task.
Development Dimensions International (DDI) is a leading talent management consultancy which specialises in supporting healthcare companies get ready for the future. DDI recently released its global research ‘High-Resolution Leadership’, which draws on assessment data of over 15,000 candidates for five leadership levels: frontline, mid-level, operational, strategic executive, and C-suite executive across 20 industries and 300 organisations.
One research finding (see the chart) looks across a mix of industries in relation with the core leadership skills/competencies. This detailed look at the leadership skill variation offers a high level perspective on each industry’s readiness to meet their unique business challenges. One key differentiation among industries is with respect to the degree of pressurest hey had experienced and how much technological and demand uncertainty faced. Harvard Business Review labelled these differentiators as the VUCA Index (Volatility, Uncertainty, Complexity, and Ambiguity) and we incorporated it in the cross-industry summary to add one more layer of nuance.
What came out very clearly as a driving force for healthcare leaders is that they are strong in building organisational talent, customer focus and driving execution which are all critical for the healthcare industry success.