What’s in store for 2020 when it comes to Senior Living Talent? Here are 10 talent trends that will help to shape the workforce in the New Year:
- Candidate-Driven Job Market Continues. As the job market and economy stay strong, we can expect the continuation of a candidate-driven job market. The number of open jobs exceeds the number of job seekers. This means workers continue to have the upper hand. Job seekers have more employment options, opportunities and offers, therefore, more power over organizations and they know it.
- Several Generations in Workplace. Generational diversity in the workplace is emerging as a key issue faced by the senior living industry. According to Forbes , there are five generations in the workplace and they need to coexist and work as a team. These generations range from baby boomers to Generation Z employees who are just joining the workforce, many fresh out of college. We know that generational differences are causing some of the biggest shifts in our workplaces. Each generation comes with specific demands, viewpoints, and expectations for companies and the workforce.
- Rise of Millennials into Leadership Roles. Millennials already make up the largest group in the workforce, and they hold nearly 20% of executive positions. If your senior living company isn’t already experiencing the Millennial Effect, it will. They are changing traditional approaches to leadership, learning, and workplace culture. Plus, they will be tasked with attracting, leading, motivating, retaining, and integrating a multi-general workforce.
- Title of Chief People Officer Gains Ground. There’s a new focus on human capital within the Senior Living Industry. With a low unemployment rate plus the fierce competition for industry talent, focus has been placed talent management and retention. Enter the Chief People Officer (CPO). Earlier this year, Senior Housing News featured a story on two Senior Living companies that hired Chief People Officers in order to look for ways to expand their pool of qualified talent available to operators, exploring avenues to make senior living a desirable career path, and expand growth opportunities to current employees.
- Demand for Interim Talent Increases. Because of stiff competition for talent in this job market, it can take employers two to four months to hire employees and often longer for executives. One solution to counter that is Interim talent solutions. Hiring interim workers can help businesses sidestep talent gaps, business disruption, remain competitive, and nimble and agile. The need for Interim talent is expected to grow at a healthy pace over the next few years as companies strive to grow in the midst of changing market needs.
- Apprenticeships Encouraged by Argentum. Per a recent Argentum webinar, Apprenticeship is a game-changing new solution to the perennial problem of turnover in our caregiving workforce. Argentum’s Apprenticeship for Caregivers has established a career path for caregivers to advance in the company…and it has a proven way to keep and grow our industry’s high performers. “This initiative will pave the way for caregiver advancement in the industry,” James Balda, Argentum president and CEO, said in a statement. “We need to continue to reward high performers and retain dedicated talent, and apprenticeship programs are an opportunity — as seen in other industries such as restaurants, hospitality, and multi-family housing.”
- New Leadership Skills in Forefront. A number of new skills and competencies will be required of leaders in order to be successful in 2020 and beyond including, cultural sensitivity, cognitive flexibility, outcentric leadership, servant leadership, high emotional intelligence, knowledge of Artificial Intelligence, and the ability to manage the multi-generational workforce, and artificial intelligence knowledge.
- Workers Attracted to Purpose-Driven Workplace. Most employees in Senior Care want to make a difference which gives them a sense of meaning. In other words, they’re purpose-driven. According to Harvard Business Review, a higher purpose is not about economic exchanges. Rather, it reflects something more aspirational. It explains how the people working at your organization want to make a difference and find meaning in their work.
- Counter-Offers Skyrocket. Due to this candidate-driven job market, counter-offers are more common and increasing like never before. Senior living organizations know it’s hard to find good talent right now and when someone resigns, they often resort to counter-offers. It’s a temporary solution for employers. It buys them time to look for a replacement. Counter-offers, for the most part, are not in the best interest of an employee to accept.
- Yearly Reviews Become So Yesterday. While older generations may have been fine with an annual review, Millennials want to know how they’re doing on a continual basis. Frequent feedback enables them to keep tabs on their careers and helps them get where they want to go. If your organization wants the best from their younger workforce, they need to reconsider the way they currently assess and review employees.
ABOUT JULIE RUPENSKI
Julie Rupenski is the Founder, President & CEO of MedBest, opening the doors in 2001. Since that time, Julie has gained national recognition for providing top talent solutions exclusively for the Senior Living Industry. Her specialties include filling C-Suite, Vice President, Regional, and Property level positions.
Julie has an in-depth knowledge of the Senior Living Industry since she previously worked in operations for both Senior Housing and Senior Living. Today, Julie makes it her personal and professional mission to place qualified people in health care positions where they have the greatest impact.
Julie’s industry articles and interviews have been published in Provider Magazine, LeadingAge Magazine, Florida Health Care Association Newsletter, PULSE, Florida Assisted Living Association Magazine, ASPIRE, and Florida Senior Living Association Newsletter.
Julie earned her degree in Gerontology at the University of South Florida, Tampa, Florida and continues to cultivate her career through senior living conferences, forums, trade shows, and expos.
Contact Julie Rupenski at firstname.lastname@example.org / 727-526-1294.
MedBest is a national Executive Search Firm exclusive to the Senior Living Industry established in 2001. We recruit and acquire exceptional executive talent for all types of Senior Living Organizations and Communities across the US including Assisted Living, Continuing Care Retirement Communities, Independent Living, Memory Care, and Skilled Nursing Facilities.