If you’re a senior IT executive about to connect with old and new friends in Las Vegas, how about adding your personal career aspiration to your upcoming attendance goals? Given findings referenced on Korn Ferry Institute’s CIO to CEO: Barriers and Success Factors, “… Evidence is now emerging that the top CIOs are moving up beyond their specialist leadership role, to become Chief Operating and Chief Executive Officers, with more than 100 such leaders identifiable in North America”.
As building credibility by increasing one’s business knowledge and exhibiting business leadership we compiled some of the key recommendations from the report. Here are three reminders as you begin to plan whom you will engage with at HIMSS 2016:
Reminder #1: There is a tsunami of healthcare IT offerings, figure out which ones can best support your company’s specific business outcomes.
With the J.P. Morgan Healthcare conference, HIMSS 2016 and a host of other events, there are many potential new shiny pennies to pursue. Prudent CIOs will figure out how to choose those that address the prioritized goals that their CEOs have communicated. For example, given AstraZeneca’s (AZ) CEO’s explanation of how his company is making progress with one of their 3 strategic priorities (to achieve scientific leadership); an AZ IT professional might consider which of the vendors can help them efficiently share knowledge across their announced Cambridge UK research center ecosystem or accelerate their pace of delivering high-impact publications (those “with >15 impact factors”).
Reminder #2: If your company is in the midst of layoffs, determine which advisors can provide end-to-end solutions and support for not only departing co-workers but also remaining staff.
With M&A in pharma and healthcare set to average half a trillion dollars per year for the foreseeable future (Source: Baker & McKenzie), which companies can effectively provide complete solutions that address your evolving workforce needs, no matter where they are globally located? As one Harvard Business School Professor recently explained (A C-Suite Perspective on Increasing the Velocity of Successful Transformation for Global Industries), the good news is that well-thought out support plans for staff can drive value (e.g. New product sales contributions), even during downsizing times. Therefore, what solutions might enable you to collate the vast amounts of data and better understand, reason, and learn from it; such that your colleagues can crisply reply to customers when they ask, “So, what’s new”?
Reminder #3: There are not just two KPIs, attack ALL three!
While most transformations focus on three main key performance indicator themes (reduce expenses, drive productivity, and accelerate revenue growth), far too many IT strategic drivers concentrate on only the first two. As the CIO to CEO: Barriers and Success Factors report shared, “…“you can’t be a bottle neck, you can’t be solely production oriented – you have to be growth oriented. Otherwise, you will be seen solely as an executor rather than as an equal partner in business discussions.” Therefore, which advisors might be able to help you identify options to uncover new customers and/or markets? Or for legacy assets of decades-old data, which advisors can help unlock new sources of value that existing and/or new customers are willing to purchase?
Building upon Korn Ferry’s assertions for the critical competencies of prospective CEOs particularly because of the level of digital progression, general management capability is required earlier on in one’s career, the upcoming HIMSS 2016 event offers an interesting opportunity to connect with potential advisors who can not only support your company’s business goals but also your general management development plans.
Come visit IBM at HIMSS16, Booth #5932 to see demos on how we are applying analytics to drive value based care.
Join us in the conversation:
IBM Healthcare Twitter: @IBMHealthcare or #IBMHealthcare
IBM Healthcare YouTube: www.youtube.com/ibmhealthcare
IBM Healthcare Slideshare: http://www.slideshare.net/IBMSmarterHealthcare
We look forward to seeing you in Las Vegas on February 29 – March 4