9 Workforce Trends Taking Hold

As we enter the second half of 2024, several emerging workforce and talent acquisition trends are helping to shape the senior living / long-term care industry. Let’s take a closer look!

 

What You Need to Know About Current Workforce Trends:

 

The goal of identifying workforce trends is to notify industry employers of  senior living / long-term care of changes and shifts.  Employers can then take this information and make respective changes to their workplace including in technology, company culture, employee retention, etc. and adapt to trends and deploy resources accordingly.

 

What are the Latest 9 Workforce Trends?

 

AI Takes Center Stage in Recruiting.

AI-powered tools have revolutionized talent acquisition in numerous ways including the writing of job descriptions, quickly answering questions with chatbots, efficient screening, enhanced candidate matching, automated scheduling, bias reduction, improved candidate experience and improved overall quality of hiring decisions.  AI is a valuable time saver.

 

AI for Candidates.

It’s not just senior living recruiters using AI, but candidates as well. AI generative tools like ChatGPT have made resume/CV writing and job searches easier. It simplifies tedious tasks such as crafting cover letters that stand out and attract attention. AI can play a significant role in helping candidates with improved job matching, resume optimization, automated job alerts, and interview preparation with Q & A. Plus, AI can assist with networking and suggest relevant connections, industry events, and other networking opportunities to discover hidden job openings.

 

Skills-Based Hiring Gains Momentum.
Skills-based hiring is an approach to recruitment that focuses on evaluating and selecting talent based on their specific skills instead of traditional qualifications like degrees or job titles. According to TestGorilla’s State of Skills Based Hiring Report, 76% of employers in various industries use some skills-based hiring to find new talent and almost 55% are using role-specific skills tests. In addition, LinkedIn reports that there’s been a 21% increase in job postings that advertise skills and responsibilities instead of education and other qualifications. What types of roles in senior living / long-term care could be filled utilizing skills-based hiring? Tech roles, sales and marketing, entry-level hires, service roles and administrative roles.

 

Empathy in Leadership Becomes Priority.

Many employers are prioritizing their employee’s well-being and supporting them in taking better care of themselves. When companies invest in health-driven initiatives such as wellness programs, mental health resources, flexible work arrangements, additional PTO, and a work-life balance, it not only enhances employee satisfaction on the job but also boosts productivity and ultimately, success.

 

Interims More Than Mere Stopgaps.

Interim professionals are gaining more prominence as senior living organizations hire interim leaders to address immediate talent challenges.  They bring stability during times of a vacant position, sudden change, or uncertainty. While their role is not permanent, interim leaders make a significant impact in a short period of time. They are dynamic catalysts, driving effective measures and delivering tangible results. They are far more than mere stopgaps. What are the most popular interim placements in senior living / long-term care?  Interim Nursing Home Administrator, Executive Director, Assisted Living Administrator, Director of Nursing, MDS Coordinator, and Director of Resident Services.

 

Organizations Strengthen Relo Programs.

Due to higher rent prices and interest rates, individuals and families moving to new locations have decreased. However, corporate relocations will remain steady. Consequently, senior living and long-term care organizations are strengthening their relocation programs and offering additional support to address and alleviate costs and concerns.

 

Return to Office Issue Won’t Go Away.

Many organizations across all industries have issued a return to office (RTO) mandate however, scores of workers have not complied. They have been very vocal about preferring a hybrid schedule. Their choice would be to work at least 1 to 2 days per week remotely and the other days in the office.  According to CNBC, 90% of employers aren’t convinced that’s the best option. They feel there’s a great benefit to getting staff together on a regular basis saying It drives relationship building, collaboration, and productivity.

 

Inflation Causing High Stress.

Employees are, for the most part, dissatisfied with their pay. Per Forbes.com, at least 53% of employees said their paychecks are not keeping up with inflation and according to a survey done by the American Staffing Association (ASA), 38% said their financial situation is “more stressful” than last year. How can senior living organizations retain these workers? If you can’t improve their compensation, improve their morale with small bonuses and recognition. Don’t wait until there’s a crisis or revolving door to improve employee engagement.  If you’re not keeping your employees happy and engaged, your competitors will.

 

Great Resignation to Great Stagnation.

The University of Phoenix Career Institute® released its 2024 Career Optimism Index®, a comprehensive study examining the state of American workers’ career trajectories and sentiments about the future of their career opportunities.  They found that workers are concerned about talent stagnation in the workplace. What is talent stagnation?  It’s the term used to describe a situation where a lack of employer support stalls employee career advancement. More than half of workers (53%) report feeling easily replaceable in their jobs and 64% of workers say their company does not offer opportunities for internal mobility.

 

Want more information regarding workforce trends or having an immediate need for top perm or interim talent? Contact our senior living recruiting specialists at https://www.medbest.com/client/ /727-526-1294 and jkrupenski@medbest.com

 

 

ABOUT JULIE RUPENSKI

Julie Rupenski is the Founder & CEO of MedBest Recruiting. Since opening its doors in 2001, Julie has grown MedBest into an award winning, multimillion-dollar national firm, garnering impressive awards including Top 20 Executive Search Firm 2024, Top Interim Services Provider 2023, INC 5000 2021 and Tampa Bay Fast 50 2021!  In addition, Julie was named as one of the “Top 100 Women Leaders in Tampa 2022″ by Women We Admire.

 

MedBest has gained national recognition due to Julie’s industry expertise and high level of success. Julie has an in-depth knowledge of the senior living / long term care industry.  She previously worked in operations for both senior housing and senior living prior to founding MedBest. Today, Julie and her industry-savvy team of recruiters, make it their mission to place exceptional industry executives in senior living positions where they have the greatest impact. Contact Julie at jkrupenski@medbest.com.

 

ABOUT MEDBEST
MedBest is an award-winning national Executive Search Firm exclusive to the Senior Living / Long Term Care Industry. For more than two decades, we have connected senior living / long term care organizations with exceptional senior living executive talent for both permanent and interim roles. MedBest was named as a  Top 20 Executive Search Firm and Top 10 Interim Services Provider! In addition, we were one of American’s top companies by Inc.5000 and a Tampa Fast 50 Company in 2021! MedBest is a member of the National Association of Personnel Services (NAPS) and American Staffing Association (ASA). Contact MedBest at 727-526-1294.

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