Mount Sinai Health System’s (MSHS) work with Arena using data, AI, and predictive analytics to transform its workforce and reduce employee turnover was featured at the LEAP HR Healthcare 2018 conference.
Jane Maksoud, Senior Vice President and Chief Human Resources Officer at MSHS, and Myra Norton, President and COO of Arena, shared their experience in a session titled “Leveraging Data, Predictive Analytics & HR Innovation to Transform Hospital Operations & Workforces.”
They discussed the situation at MSHS today, with particular emphasis on diversity, community, and population health. They also explored how these factors are driving workforce transformation efforts – specifically around talent acquisition and management. They then introduced the concepts behind using data, AI, and predictive analytics to improve healthcare hiring, and how they relate to similar techniques used by Amazon and Netflix. Finally, they shared the results of their work together, along with the lessons they learned, and their recommendations for others wanting to take a similar leap.
“Mount Sinai Health System has a long tradition of leveraging advances in science and technology to provide the best care for our community,” said Jane Maksoud. “As we transition to a Population Health Management-centered approach, it becomes critical that we use these same tools in talent acquisition to transform our workforce and retain our best employees – while continuing our focus on diversity and community.”
Recruitment and retention has been a challenge in healthcare for decades. A recent study by Compdata Surveys reported the overall turnover for all healthcare roles is 20.6%. But new technology, driven by recent advances in Artificial Intelligence (AI), has become a proven solution.
“When we first started working with Mount Sinai Health System, we guaranteed we would reduce their employee turnover by 10%,” said Myra Norton. “After two years of working together, we’re proud to report we’ve reduced 90-day turnover by 77.6%, 180-day by 34.3%, and 360-day by 25.7%. While there is a lot of hype around using data, AI, and predictive analytics in hiring in the market today, we are delivering real results that are verified by the analytics teams at our clients.”
LEAP HR forums provide industry-specific environments to challenge traditional thinking around how to build better companies. The goal is to create a movement of bold, ambitious business leaders who want to change the way HR works, a mission which involves working with a remarkable group of HR leaders actively changing their companies from the inside.
“Having worked in several large healthcare organizations over my career, I have seen the immense opportunity for innovative thinking and technology to improve the industry,” said Victor Buzachero, CHRO Emeritus at Scripps Healthcare and advisor to both Arena and LEAP HR Healthcare. “This conference is built on pioneering healthcare providers sharing their stories for the benefit of the entire industry, and I cheer Jane for doing that here today.”