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Harshvendra Soin – Chief People Officer, Fortis Healthcare India
HUMAN RESOURCES: Changing Paradigms… Healthcare and Beyond
CHANGING BUSINESS CONTEXT
The World is Changing…
Product DesignGeneva, Switzerland
ManufacturingGuangzhou, China
DistributionLong Beach, CA
Customer SupportBangalore, India
Today’s Business Story: Seamless Processes, Instantaneous Flow of Information and 24x7 Connect
Key Differentiator: TALENT
Business Reality Today
In 2010, leading US automobile companies manufactured and sold more cars in China than in the United States.
Today, businesses in many industries are scrambling to enter and expand operations across the globe.
Emerging markets are the world’s growth engines.
What does this mean for HR and talent??
4
IMPLICATIONS FOR HUMAN RESOURCES
The Paradigm Shift
From supporting to partnering business operations
From local talent wars to global competition for talent
From reactive replacement hiring to proactive succession planning and pipeline building
From decentralized processes to shared services and HR COEs
6
INDIAN HEALTHCARE INDUSTRY
The Indian Healthcare Industry
8
Exponential Growth:
The Indian Healthcare sector is expected double its size to US$ 100 billion by 2015 from the present US$ 50 billion, according to recent findings by ratings agency Fitch.
Industry growing at an impressive 15% and is expected to generate 9 million jobs by 2012-13
Opportunities Galore:
According to a report by PWC, an estimated 189 million people in the country will be more than 60 years of age by 2025, needing higher healthcare spends.
A combined study by an industry body and Ernst & Young suggests that India will need as many as 1.75 million additional beds by the end of 2025.
Medical tourism is expected to generate revenue around US$ 3 billion by 2013, growing at a CAGR of around 26 per cent during 2011–2013.
The Indian Healthcare Industry
9
Talent – The Game Changer:
Biggest challenge today is finding and retaining ‘top talent’ (Nurses, Doctors, Para-medics) as new hospital chains enter India and we move to tier 2 and 3 towns.
There is a shortage of clinical talent with only 290 private and government medical colleges in India (data as on 30.09.08) with only 33482 seats annually.
India immediately needs 2 lakh doctors and 5 lakh nurses. An additional number of 6.5 lakh doctors are required to reach a ratio of 1.25 doctors per 1000 and an additional number of approximately 18.7 lakh nurses to reach a ratio of 2.6 nurses per 1000 population by 2020. (source: McKinsey report)
FORTIS HEALTHCARE INDIA
Keeping Pace With Change – The Fortis India Story
11
Started first hospital at Mohali
2001
2010
2003
&
200
4 2007
2008
2005 20
09
Revenues grow 4x with strong
presence in NCR
Company achieves
profitability on consolidated basis
Acquired Escorts chain of hospitals
Acquired Malar Hospitals, Chennai
Took a significant step in establishing Fortis as a Global Healthcare Brand by its attempt to acquire Parkway Holdings Ltd – Asia’s finest healthcare provider, but exited considering high valuations of the asset
Enters DelhiCommences operations at Noida
Listed on BSE and NSE with a market cap of USD543mnStarts hospital at Jaipur
Rights Issue Acquired 10 hospitals from Wockhardt
2011
Have signed 5 O&M contracts till date and progressing towards ongoing projects in tier II cities
Commenced two Greenfield facilities at Shalimar Bagh, Delhi and Anandpur, Kolkata; Launched an Oncology block at Mulund, Mumbai
8 new facilities added – Bangalore, Chennai, Hyderabad, Indore, Jabalpur, Pune, Hyderabad & Agra – increasing total Fortis bed capacity to 10825.
Managing Talent
• Ensuring an uninterrupted supply of talent to sustain the tremendous growth
• Having a powerful employee value proposition to attract quality talent for multiple
associated brands and hospitals in Tier II & III cities
• Identifying valued talent and designing specialized strategies for the group
• Systematically growing talent from within and having a succession plan in place
• Having in place a robust performance management system based which is fair,
objective and transparent
• Designing career paths and provide opportunities for learning and growth
Human Resource Challenges
12
Talent Management @Fortis
13
Robust Performance Management
System
Potential Assessment
Talent Segmentation & Identification
Development & Succession
Planning
The FORTIS Talent Pool
Talent Acquisition
Internal Talent Management
Talent from External Sources
Fortis Talent Management Framework
14
Performance Assessment
Potential Assessment
Talent Segmentation & Identification
Development & Succession
Planning
The FORTIS Talent Pool
Talent Acquisition
Innovative Strategies –
Facility Management Trainee Program – Hires talent from
different industries who undergo exhaustive training
for 16 weeks!
Post retirement hiring of talent
Robust Performance Management System –
PMS based on the four pillars of SMART goal setting,
periodic reviews, constant feedback, and merit based
increases.
Potential Assessment –
Job Analysis & Evaluation, Competency Framework,
Assessment Centers form the basis for potential
assessment at Fortis.
Talent Segmentation –
Segmenting talent into top talent, valued talent, talent
under watch and incompatible talent. Devising strategies customized to the
talent segment.
Development & Succession Planning – Leadership
development initiative (LDI), Physician Assistant Programs, Nursing
Leadership Development Programs (NLDPs).
Standardizing Processes
• Challenge of combining multiple reporting systems, processes and people policies
and ensuring adherence
• Establishing and strengthening foundational HR systems and processes
• Establishing a common platform for HR reporting to facilitate business decision
making
• Ensuring cultural sensitivities are kept in mind while proliferating processes policies
across the country
Human Resource Challenges
15
• Establishing foundations for strong HR systems and processes:
• Having analysis and reporting on a single platform by integrating existing formats
and standardizing across the organization
Process Standardization Initiatives @Fortis
16
Unit Classifications
& Grade Structuring
Competency Framework
Job Analysis & Evaluation
Creating an Enabling Culture
• Creating a Strong Value System that is the foundation of all processes
• Establishing open channels for access and input
• Ensuring retention of new recruits by fostering an enabling atmosphere
• Create customized career paths incorporating diverse experiences and
personalized strategies
• Ensuring not just diversity management, but establishing a culture of inclusion and
collaboration
• Ensuring high engagement among all employee groups
Human Resource Challenges
17
• Global Values Launch
• Establishing strong channels of communication and grievance management
Creating the Fortis Culture
18
I NT
EG
RI T
Y
I N N O V A T I O N
P A T I E N T C E N T R I C I T Y
O W N E R S H I P
T E A M W O R K
Rewarding &
recognizing values
Socializing and
fertilizing the values
Webinar across
hospitals in all countries
Strengthening the Brand Image
• Establishing and maintaining the brand image of multiple entities and associated
brands
• Challenge of seamless employee movement across entities
• Managing employee expectations during transitions
• Ensuring establishment of a strong employee value proposition to attract talent for
associated brands and hospitals in Tier II and III cities
Human Resource Challenges
19
You are going to have an employer brand, whether you know it or not, and you have two choices: you can intentionally create, shape, develop and track this brand or you can let it happen by accident.
• We are currently in the process of developing a compelling employee value proposition
The Fortis Employer Brand
20
THANK YOU!