OPERATIONAL EXCELLENCE
Survey: Workforce Issues Remain Top Concern Among Executives and Decision Makers
In August 2018, Argentum surveyed senior living executives, including executive directors and other decision makers, regarding current business conditions in the industry and their outlook for 2019. A total of 112 survey responses were received, and overall, respondents cited that workforce challenges will continue to be troublesome for the industry.
Staffing remains significant challenge According to survey respondents, workforce issues top the list of concerns for the senior living industry today. Eighty-six percent of respondents said recruiting and retaining employees is a significant challenge for their company, while 68 percent responded similarly about labor costs. Fewer than one in 20 respondents said these items pose little or no challenge for their company. To a lesser extent, executives reported
that food costs, the economy, and govern- ment regulation and legislation are posing challenges for their company (see Figure 1). Argentum’s survey revealed that staffing challenges will likely remain at the forefront in 2019. Recruiting and retaining employ- ees was cited by nearly six in 10 respondents as the most significant challenge they expect their company to face in 2019. Fifteen percent of respondents said occu-
pancy will be their number one challenge in 2019, while 14 percent responded similarly about competition (see Figure 2).
34 SENIOR LIVING EXECUTIVE SEPTEMBER/OCTOBER 2018
FIGURE 1: Workforce Issues are Posing Challenges for the Senior Living Industry Degree to which Executives Cite Items as Challenges for their Company
Significant Challenge
Recruiting and retaining employees Labor costs
Government regulation and legislation The economy Food costs
Energy or utility costs Obtaining credit or financing
86% 68% 16% 10% 5% 5% 3%
Moderate Challenge
11%
30% 49% 60% 59% 49% 26%
Little or No Challenge
3% 2%
34% 31% 35% 45% 71%
FIGURE 2: Senior Living Industry Will Continue to Face Staffing Challenges in 2019 Most Significant Challenge that Executives Think Their Company Will Face
Percent Responding
Recruiting and retaining employees Occupancy Competition Labor costs
Increasing acuity
Government and regulations Expansion
The economy
59% 15% 14% 5% 2% 2% 2% 1%
Source: Argentum survey, August 2018
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