Healthcare turns to outside sources to lead marketing efforts

A record number of chief marketing officer job shifts have taken place during the first half of 2018, according to data gathered by global executive search firm Russell Reynolds Associates cited by Forbes.

The search firm, which has tracked chief marketing officer job moves for the past five years, reported nearly 200 CMOs changed jobs during the first half of the year.

Along with a succession crisis and ongoing issues of gender parity among those appointed to the role, Russell Reynolds Associates found the financial services and healthcare industries may not be the place for those looking to advance into the chief marketing officer role from their current role at their organization. In the past year, 8 percent of marketing-leadership appointments in the healthcare industry were internal promotions, a significant decrease from the 25 percent of appointments during the second half of 2017, the report states.

The trend illustrates that both the healthcare and financial services industries largely gravitate toward hiring outside expertise to their top marketing positions. Roughly 73 percent of healthcare marketing leadership appointments came from outside the industry during the first half of 2018. Of all external appointments, 38 percent came from consumer-facing businesses, indicating healthcare organizations aim to bring a greater business-to-consumer marketing approach to their businesses.

To access the full report, click here.

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