Top 5 Challenges:
- Government Bureaucracy- the health care field in New York is extremely regulated, which wouldn't be such a negative thing if the bureaucrats in charge weren't so clueless and the system wasn't so complicated that objectives get totally lost and all we end up with is more red tape, higher costs and less time to accomplish our goals.
- Minimal Margins- in this business it is tough to make a profit. Much of the revenue comes from 3rd party government contracts or private pay residents/clients with limited assets. Your revenue doesn't increase much from year to year which means it always seems like you're fighting to make ends meet. There are so many things about our business that I would love to enhance, but no margin-no mission.
- Governance Structure- the not-for-profit arena functions with a voluntary board of directors providing the governance oversight. They hire the CEO, who is then charged with the operational responsibility of the organization. Creating the right governance structure that allows the board to positively impact the organization while recognizing the primary organizational skills lie with the staff, is a delicate balance. I want the board experience to be rewarding and enriching, but it can't become a hindrance to the organization's operation.
- Customer Expectations- I'm as bad as anyone when it comes to high expectations and little tolerance for bad service, but it is frustrating to try to meet unreasonable expectations. Our customers include government regulators, residents, families, staff to name a few. They all have expectations of perfection and in this complicated field with limited resources and high regulations, perfection is often an unreasonable expectation. Doesn't mean we don't aim for it, but it sure is a challenge and frustrating when you miss your target and get nailed for it. Thank God for those who take the time to notice the good things we do.
- Information Overload- I've been in this business for 25 years now and it was never this bad. Is it possible for us to be to connected and accessible. E-mail, faxes, voice-mail, junk mail, spam, internet, list-serves, conference calls, cell phones, lap-tops, blackberry's, and the list goes on and on. I easily spend half my day just keeping up with the information and correspondence that crosses my path, and I still carry a briefcase home every night with the stuff I didn't have time to get to. Information is powerful, but it sure is much harder to screen out what you need from the onslaught of data.
Top 5 Enjoyments:
- The Relationships- In my position I have the opportunity to meet and interact with many people from peers, staff, residents, families, volunteers, consultants, business partners. Every relationship is different and every relationship makes a difference in my life. At home, I am an introvert, but at work I am an extrovert and enjoy my relationships with others as much as anything else I do.
- Leadership- They say some people are born leaders. I don't really know, but I do know I love providing leadership. I lead using the principles of servant leadership and it has served me well. I enjoy leading by example and helping others become better leaders themselves. As CEO, I am in the perfect position to be a leader and I revel in the responsibility and expectation.
- Mission- I really love that I have the opportunity to do good in my work. It is not about making money or being the best, but just about providing a beneficial service for someone in need. Sure, I admit I sometimes dream about owning my own company and making a billion dollars on some novel invention, but that is just a fun diversion. In my real life, I take great pride and satisfaction knowing that I am making a difference in many people's life because of what I do, not because of what I accomplish.
- Autonomy- I am blessed to have a great deal of autonomy in my job. Yes, I report to a board of directors and like anyone else, I have goals and responsibilities that I am accountable for. However, no one sits outside my office door and watches over me or tells me what to do or how to do it. As CEO, I make those decisions and I love the challenge and opportunity that affords me.
- Crisis Management- don't get me wrong, I don't look forward to a crisis. However, they do come along now and then and are part of a CEO's job. Crisis come in various levels and scope, but I can count a handful of whoppers that I have managed in my career. A resident who fell down a stairwell in a wheelchair and died, a top executive of the organization who died suddenly of a stroke, a community recall of our lobster bisque during a fund-raiser because of suspected contamination, an outbreak of Salmonella in the water supply at our facility. While I don't wish these things to happen, they do happen and I actually find I am at my best when under pressure with others counting on me.
Wow, I have created yet another list to organize my thoughts and my life. I feel better already. Have a great week and watch for my next blog posting to get caught up on what's happening from the CEO's perspective.
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