Contemplating a Career Move: What Physician Leaders Need to Know
As the healthcare industry increasingly prioritizes physician leadership, more opportunities open up for current or aspiring physician executives. We certainly see this proliferation of roles...
As the healthcare industry increasingly prioritizes physician leadership, more opportunities open up for current or aspiring physician executives. We certainly see this proliferation of roles and opportunities from our vantage point as physician leadership recruiters.
We also see some physician leaders unsure how to assess job opportunities and respond to inquiries from search consultants or hiring organizations. They wrestle with whether a new opportunity represents their next great career move, or if they want to move at all.
There’s no way to know for sure – trust your instincts, we suggest, and talk through opportunities with friends or family. Rely on search consultants like us, who have insight into what an organization is seeking for a given position, whether your goals and qualifications align with it, and how it might advance your career.
Here are some additional rules of thumb for assessing new opportunities:
Before Going on the Job Market
- Know your “why”. Before assessing any potential career move, take time to reflect upon why you do what you do. You got into medicine for specific reasons – to help other people, for one thing – and those core reasons and your personal mission likely haven’t changed. Ask yourself as you consider advancing as a physician executive, “Why do I want to lead or continue to lead? What about leadership builds upon or complements what I’ve done as a clinician? As I reduce or step away altogether from clinical practice, will I still get the same reward out of my work?” Answering the “why” question is the essential first step to any potential career move.
- Think about timing. An opportunity might align with your personal values and mission, but is now the right time for a move? Have you achieved everything you want in your current role or is there more yet to do? Are you ready for a major career transition? Timing also involves your family and those dependent upon you. What would your career change mean to a significant other, children, or perhaps parents who live nearby and depend on you? Often we see candidates consider their own career needs without carefully considering the impact of a job change on loved ones.
- Ask: What is a logical next step? What kind of position do you want next? Is it a move up the ladder or could it be an intriguing lateral move? Do some homework to see what kinds of roles are available for physician leaders today (there are many) and which align with your skills and goals. Consider your marketability for such roles—speak to executive search consultants like us to know if you’d be an attractive candidate.
- Prepare your C.V., resume, and references. In addition to a traditional C.V., physician executives should have a more traditional business resume that focuses on exact responsibilities and achievements in prior roles. (A detailed LinkedIn profile is helpful, too.) Update your list of references as well as any other documents you may need to share with an employer.
- Know what you want in an employer. What kind of organization are you looking for, ranging from community hospitals to teaching hospitals and academic medical centers to physician group practices? In addition, what do you want in terms of organizational culture, strategic priorities, financial stability, and so forth? Some physician executives thrive in more stable environments where others may crave a turnaround situation or an organization in need of culture change.
- Determine your non-negotiables. Before you consider a specific position, know what you’re willing to negotiate on and what things are deal-breakers. Do you need a certain salary level or degree of autonomy? Do you want to continue research or a significant clinical practice? Do you need to live in a warm climate, big city, or red or blue state? Think through what you won’t compromise on.
When Considering Whether to Apply
- Ask: Why this organization? Related to item #5 above, consider this specific institution. What about it interests you? How does it impact its community and fulfill its mission? How does it operate and who are your potential leadership peers? What does it want to be in the future? Pose these questions to know if an organization is a good fit as your next employer.
- Do initial due diligence on the organization. The employer and search consultants will provide candidates with background information as the interview process begins. In addition, look for publicly available information on its current state and future vision. Speak to industry colleagues who have worked with this organization or know it well about its reputation, leadership team, culture, and future outlook.
- Do initial due diligence on the role. Read through the leadership profile in detail to make sure you fully understand what is being asked of the role, who it will report to and partner with, evaluation criteria, and so forth. Prepare a list of questions to reference when you speak with a search consultant or hiring manager.
- What are your expectations for compensation and benefits? This is a key question, especially considering some physician leadership roles can mean a pay cut for physicians who have held full-time clinical or surgical practices. Have baseline expectations but be willing to adjust them according to the organization and its location, cost of living, etc. Are you willing to take a little less to live in a beautiful spot or do work that has special meaning for you? What would you consider a “fair” ballpark offer based on your marketability and what others in similar roles are making?
- Consider barriers to relocation or changing organizations. You’ve already thought about timing and what a move would mean to your family. Some other things to consider: Can you sell your current house and buy a new one in today’s market? Is the proposed start date something you can manage without leaving your current role prematurely? Think seriously about any possible limitations before pursuing a specific role.
- Return to item #1. As you enter the recruitment process and begin to proceed through it, keep your “why” in mind, asking if this role aligns with who you are and what you want for yourself. Let it guide your decisions as you move forward.
Allow us to share one last piece of advice: No matter what happens regarding a specific job opportunity, enjoy and learn from the process. Should you apply and become a candidate, pay attention to how the process plays out and how you perform within it. If it turns out this position isn’t the one for you, apply the lessons learned to future searches – for most physician leaders, there will be many opportunities to come.
