STRATEGIES FOR A TIGHT MARKET


Tests may be ahead While employees may like and use the apps, there may be some regulatory rumblings ahead. The Wall Street Journal reported in Septem-


ber that scrutiny is coming from legislators in New York and California, who want to ensure such cards aren’t going to go the way of payday loans and that there are adequate consumer protections. New York regulators, the Journal reported,


issued a subpoena to Earnin, whose pay advance app is not tied to employment or company. The system uses tips—no fees required.


The Earnin entrepreneur and others who run such systems say they welcome regula- tors to take a very close look, so they can show that these systems are not, as Fenberg feared, “too good to be true.”


There are diff erences between advance


pay apps and cards and payday loans. The apps can’t keep rolling fees over into the next pay cycle, thus keeping people out of the debt spiral that results from rap- idly escalating interest rates. Payday loans also charge late fees, and they may hand debts over to collection agencies, which are known for hawkish methods. But there remains the question: Employ-


ers don’t make money from these programs, so why would they use them? Debt creates stress, says Woodka, and


stressed employees are more likely to leave their job, at a cost of $3,500 to $5,000 per senior living employee. Worst of all, it in- fl uences care and residents’ quality of life. So instituting a perk that’s popular with employees and puts you on a par with the competition looks like a good investment.


Employers and others who use the apps


recommend the following: • Pair it up with a fi nancial management program. It makes it easier for employees to track what they have, what’s coming, and what they need.


• Make it available to all—part-time and full-time workers. Many benefits are available only to full-time workers, but wide availability is part of what makes the program popular, Fenberg says.


• Make it easy to use by associates, with an app easy to access and download and good functionality.


• Get an easy-to-use system that becomes invisible—timekeeping, payroll, and other functions shouldn’t even know it’s there. Employers should have no risks (the wages are typically provided by an outside fi nancial partner).


ADVICE FROM THE EXPERTS Tips, ideas, and encouragement on hiring and retention from senior living leaders at all levels


Civitas sends a company employee newsletter to all who apply. It gives applicants a look at company culture, how the company recognizes individuals and teams, what charity and other events it participates in, and how opportunities are communicated.


Continuous support is key, said several who have moved up the career ladder. While participation in continuing education, for instance, needs to be balanced with work time, those who have continual opportunities tend to show continual advancement. Check in regularly or fi nd a mentor for motivated employees, so they can keep moving up, get their work done, and keep a good work-life balance.


To avoid losses that can come with a disengaged associate, Watermark has an off er: If, after orientation, you don’t feel you mesh with the provider’s culture, it will pay you to say goodbye. They want associates to love what they do and do what they love. In the long run, Watermark believes an unengaged or disengaged associate can cost a lot more than a few hundred dollars.


Ask associates to create a recognition program—it encourages engagement and makes it feel more fair.


Post certifi cates, make announcements, or have a celebration to recognize earned credentials and certifi cations. Off er support for earning credentials and certifi cations, such as Argentum's Certifi ed Director of Assisted Living (CDAL),


16 SENIOR LIVING EXECUTIVE SEPTEMBER/OCTOBER 2019


ServSafe, or Senior Living Sales Counselor. Encourage use of credentials among staff by including these on name tags, ID cards, or business cards, for instance, when appropriate.


If someone applies but doesn’t make it into an education program or apprenticeship, don’t forget them. Help them to make a plan to qualify in the future or to examine their goals to fi nd the right program.


Cash never hurts: The Merrill Gardens Cares award, based on resident comments about associates, comes with a net $100, says Arthur Eyzaguirre, general manager at Merrill Gardens, Woodstock.


Think long-term and big picture. It’s true that someone off ered opportunities might take their new skills elsewhere. But in the meantime, they’ve shown others on staff that the door to new skills and opportunities is open. The employee might come back.


While paying attention to hiring and retention of associates, don’t forget the management levels. “One of the biggest causes of dysfunctional turnover is workload, understaffi ng, and turnover in leadership roles,” writes David Wilkins, chief strategy offi cer at HealthcareSource talent management software company. “Retaining staff is actually one of the biggest keys to retaining staff –it feeds itself.”


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