Sponsored by WORKFORCE DEVELOPMENT
The Tipping Point: Employee-Centric Practices Make Dollars & Sense
Mark Woodka, CEO, OnShift
workforce challenges are crippling their or- ganizations. In fact, in a recent Argentum poll 87 percent of senior living decision makers said that workforce challenges are aff ecting their companies’ growth. I get it. Turnover rates remain sky-high and the ability to hire qualified talent is hampered by the current workforce short- age, low unemployment and fierce com- petition from both inside and outside the industry. This reality has created a tipping point where status quo workforce manage- ment practices just aren’t good enough. A senior living HR executive articulated a
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path forward by quoting Malcolm Gladwell, author of The Tipping Point and Blink. “The key to good decision making is not knowl- edge. It is understanding. We are swimming in the former. We are desperately lacking in the latter.” His point is that all providers have knowl-
edge of the existing workforce challenges, but success will be driven by understanding the needs of today’s workforce and adapt- ing. Here are three innovative practices providers are implementing to eff ectively attract and retain talent
Capitalize on the gig economy For those unfamiliar, the gig economy is a portion of the labor market that opts for short-term contracts, freelance work or side jobs as opposed to permanent jobs. Just think of your Uber drivers, Instacart shoppers and Airbnb hosts. Many of your part-time, per diem and agency workers would also be considered part of the gig economy. It is estimated that 29 percent of all U.S. workers are “gig only” workers and 39 ilp-
38 SENIOR LIVING EXECUTIVE JULY/AUGUST 2019
ach conference I attend, survey I read and nearly every provider I speak with detail how escalating
ercent of Americans contribute to the gig economy through primary or secondary jobs. In total, 57 million Americans are gig economy participants and this number is only expected to grow. What’s the appeal of becoming a gig work-
er? Overwhelmingly, gig workers cite sched- uling fl exibility as the biggest benefi t. With this understanding, providers are becoming more fl exible with shift times and utilizing mobile apps like OnShift’s to allow their workers to quickly view and pick up shifts.
Turn every day into payday Providing employees instant access to their earned wages between paychecks has become popular within the gig economy and is used as a diff erentiator by numerous fast food and retail giants to attract and retain talent. Senior living organizations are quickly following suit, because as one executive told me, “We forget what it’s like living paycheck to paycheck. And the reality is that many of our workers are in that exact situation.” Numerous organizations have imple- mented programs like OnShift Wallet to provide employees fast access to their earned wages and some financial relief when they need it most. Without such pro- grams, employees are often stuck choosing between incurring an overdraft fee, late payment penalty or a high-interest payday loan to cover an unexpected expense. This program has been an instant suc-
cess for employees with 94 percent of users saying that they would recommend OnShift Wallet to a friend or colleague.
Engage employees consistently It is often said that the best recruitment strategy is one of retention. I couldn’t agree
more. Consider this: the cost of turnover for an organization of 1,000 employees with a 51 percent turnover rate (industry average) is upwards of $1.7 million. This staff insta- bility also has a negative impact on quality care and service, staff morale and customer satisfaction. It’s a problem that must be un- derstood and addressed for organizations to be in a position of growth. Progressive organizations recognize that
today’s workforce wants a voice to infl uence change, open lines of communication with managers and recognition for their hard work. These providers are utilizing tech- nology to create channels for staff to easily communicate with managers. Annual sur- veys are being supplemented with frequent pointed surveys that allow managers to collect feedback and act quickly. When you put these practices together,
the results to an organization’s net operating expenses are tremendous. Providers com- monly report lower overtime and agency use, higher engagement and turnover reduction by up to 33 percent. Plus, they are more prepared to compete for talent in today’s market. It just makes sense.
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