SENIOR LIVING LEADER MAKES THE CASE FOR BOLD CHANGE NOW TO CAPTURE THE FUTURE
exceptional opportunities intersecting right before our eyes. “Our industry has been highly successful over the last 25 to
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30 years in terms of creating an alternative to institutionalized care for those who need long-term care supportive services, as well as those living in the independent living setting,” says James Balda, president and chief executive officer of Argentum. “I think the opportunity for that to grow signifi- cantly and for us to have a larger impact on the lives of seniors is just incredibly bright.” Indeed, demand for a full complement of innovative senior living products is expected to soar as the Baby Boomer wave crests over the next decade or so. But COVID-19 continues to cast a long shadow. A troubling
financial and operational outlook could jeopardize the industry’s ability to meet the moment. Inflationary pressure, labor market issues, unreimbursed expenses from the pandemic, and declin- ing occupancy levels are ongoing strains for many providers. The path forward is further complicated by a host of other
challenges — diversity, equity, inclusion, and belonging; rapid technology changes; shifting policy landscapes; and the inte- gration of senior care and health care. These potential barriers to growth present Argentum and
industry operators with opportunities to effect positive change, advance favorable regulation, and elevate and expand the industry.
A Vision for the Future With all of these factors mixing, it is today that industry stakehold- ers are beginning to rally around a new strategic vision for the future of Argentum and the industry itself. It rides on three big ideas — people, trust, and choice — that “we need to get right as an industry if we are going to be successful,” says Balda. These overarching ideas are the themes of the new Argen-
tum Strategic Plan (2023–2025). Crafted over the course of a year under the leadership of the Argentum Strategic Planning Task Force, the Strategic Plan benefits from the wisdom of hundreds of Argentum members and other stakeholders who participated in interview sessions at events and in other venues, Balda says. Argentum tapped expert strategy and culture consultancy
Thruue Inc. to guide the process. The firm works with some of the most powerful trade and nonprofit organizations in the country and has worked with many allied organizations, including AARP and LeadingAge. “Strategy, to us, comes down to the choices that leaders
and leadership teams will make, of what they will focus on so that they can grow, drive relevancy, drive revenue, or my commercial clients like to say, ‘how to win’,” describes Daniel Forrester, Thruue’s founder and board chair.
People Trust
Engage, Develop & Support 2 Million People
Improve Policy Influencer's Perception of the Industry
Choice Increase Access 16 SENIOR LIVING EXECUTIVE JANUARY/FEBRUARY 2023
ith a new year underway, Argentum’s leadership sees the senior living profes- sion reaching an inflection point, with profound change, shared challenges, and
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