What's Happening?
Top executives from the senior living and skilled nursing sectors have formed the Seniors Housing CEO Imperative, a new initiative aimed at addressing workforce challenges through leadership development
and growth. The group plans to convene in January in Phoenix, coinciding with the American Seniors Housing Association's annual meeting. The initiative seeks to create a virtual grants coordination network to help providers access over $3 billion in federal, state, and local workforce funding that is currently underutilized. Lynne Katzmann, CEO of Juniper Communities, emphasized the need for action to grow industry leaders. The initiative includes major players like Benchmark Senior Living and Leisure Care, and aims to set unified priorities and establish a sustainable platform for leadership growth across the care continuum.
Why It's Important?
The initiative addresses critical workforce shortages exacerbated by the pandemic, which have strained senior living and care operators. As the demand for services increases with the aging baby boomer population, accessing available funding is crucial for sustaining and expanding the workforce. By coordinating efforts and streamlining grant applications, the initiative aims to strengthen the industry and improve care services. The collaboration among major industry leaders signifies a shift towards unified action, potentially leading to more effective workforce development and retention strategies. This could benefit providers, employees, and ultimately, the residents who rely on these services.
What's Next?
The Seniors Housing CEO Imperative plans to pilot several projects aimed at securing grant funding, with some applications already under review. The initiative will provide technical assistance and share best practices to help providers navigate compliance and reporting requirements. The January meeting will feature discussions on attracting and retaining talent, with insights from former Four Seasons executives. The group intends to collaborate with trade organizations and associations to create a focused push for workforce development. Success in these efforts could lead to widespread improvements in leadership and workforce capabilities across the senior living and care industry.
Beyond the Headlines
The initiative highlights the potential for significant shifts in how the senior living industry approaches workforce development. By leveraging existing funding and fostering collaboration, the industry could see long-term improvements in leadership quality and employee satisfaction. This effort also underscores the importance of adapting to demographic changes and preparing for increased service demands. Ethical considerations include ensuring equitable access to funding and opportunities for all providers, regardless of size or location.
