7 Talent Trends Shaping the Workforce in Senior Living for 2019
What’s in store for 2019 when it comes to the Senior Living Industry and talent? Here are 7 talent trends that will help to shape the workforce in the New Year:
-Succession Planning Remains Top of Mind.
We’re facing a C-Suite mass exodus. In fact, a 2018 survey sponsored by LeadingAge suggests that “forty percent of senior living Chief Executive Officers could be retiring within the next five years.” Plus, when it comes to Chief Financial Officers, twenty percent could be retiring within five years and for Chief Operating Officers, eighteen percent within five years. These numbers make succession planning an urgent matter. Stable and consistent leadership is paramount to every organization’s success. A thorough succession plan ensures that your organization is prepared to replace key senior executives when there is turnover in key leadership roles, whether their departure is unexpected or a pre-planned transition such as retirement. In short, organizations should be prepared to fill executive positions seamlessly, before they even become available.
-Cybersecurity Talent in High Demand.
Healthcare data breaches account for an overwhelming number of the nation’s total breaches. In fact, at 53.1 percent of all the publicly reported data breaches, healthcare is by far the most breached of all sectors. Therefore, if you’re a data analyst or cybersecurity professional within health care, senior living facilities are probably actively pursuing you. Healthcare IT hiring and contracting is picking up due the need for greater security measures. Weak points such as electronic medical record (EMR) systems need to be addressed immediately.
-TeleMedicine Expands & New Job Titles Emerge.
The global growth of Telemedicine is expected to reach USD 113.1 billion by 2025, as reported by Grand View Research, Inc. No matter what your job title is, just about every industry in the health care sector, including senior living, has some sort of stake in telehealth. There are remote jobs for physicians, nurses, therapists, dietitians, dentists, etc. If you’re in technology, you can find a job as a Java Developer, Quality Assurance Engineer, User Interface Designer, IOS Developer, etc. Some new titles that have recently emerged are Virtual Hospital Manager and Telehealth Support Specialist.
-People Analytics Gains Ground.
As more Millennials become managers within the Senior Living Industry, we may see a wider adoption of People Analytics as a way to best manage staff. Essentially, People Analytics is the practice of employing “big data” to identify trends and patterns in employee effectiveness, productivity, and motivation or engagement. In fact, we may see employee dashboards implemented such as Microsoft’s MyAnalytics in order to help employees better understand how their time is being spent on daily tasks, in meetings, on projects, and to measure their progress towards achieving company goals and initiatives. Just recently, LeadingAge posted an article on People Analytics and how it’s on the way to Aging Services. Ultimately, People Analytics is meant to help managers and executives make decisions about their workforce.
-AI Continues to Transform Senior Living & Careers in STEM
The adoption of AI in senior living is on the rise and solving a variety of challenges for residents, senior living facilities, and the overall aging population. With big data and technical capabilities, we’ve gotten to the point where new products, wearables, and robotics are making a difference to everyday living. For example, AI technology can help with one of the biggest risks seniors face: falls. Hospitals, nursing homes and senior living communities can use AI technology to better track which patients are at a higher risk of falls and when they most need help from staff to prevent them. In addition, AI can help seniors make healthy behavioral changes and ultimately, improve health outcomes.
AI is expected to create 2.3 million jobs across all industries by 2020, according to a report from Gartner. Skills needed: Knowledge of automation, robotics and the use of sophisticated computer software and programs. Candidates interested in pursuing jobs in this field require specific education based on foundations of science, technology, engineering and math (STEM). Written and verbal communication skills are also important to convey how AI tools and services are effectively employed within industry settings.
-Candidate-Driven Job Market Continues.
This might be the best job market ever. According to U.S. Secretary of Labor Alexander Acosta, “Never before have we had an economy where the number of open jobs exceeds the number of job seekers.” This means workers have a newfound advantage. Job seekers have more employment options and opportunities and therefore, more power over organizations and they know it.
For most industries across the US, we’re expecting the candidate-driven job market to continue especially in the area of Healthcare Technology. For HIT job seekers, this is great news. It means they have the power to be very selective regarding job opportunities and employers. For employers this means it’s high time to review your current talent acquisition strategies. Employers need to prioritize the way they source candidates, the experience those candidates have, and the offers they eventually make.
-Ghosting Becomes More Commonplace.
Because of the continuing candidate-driven market, we’re seeing a new trend. Many job seekers are simply vanishing from potential employers even if a formal interview was scheduled. In addition, some employees are pulling the disappearing act on their current employers by failing to show up for work without notice. If this has happened at your organization, you’ve been “Ghosted.”
Companies are learning that the term “Ghosting” is no longer exclusive to the world of dating. It has crossed over into the job market. It’s no longer unusual for prospective employees and current employees to vanish, cut off all contact, and go silent.
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. Julie is a Succession Planning specialist and also a seasoned recruiter at 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 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.
MedBest is a nationwide senior living executive recruiting firm that was established in 2001.
We specialize in recruiting quality executive talent for all types of senior living facilities across the US including Assisted Living, Continuing Care Retirement Communities, Memory Care, Independent Living, and Skilled Nursing Homes. For more information, visit www.medbest.com and follow us on LinkedIn, Facebook, and Twitter.