According to the Bureau of Labor Statistics, the senior living industry needs to recruit and train more than 1.2 million new employees over the next ten years. Those employees are needed to fill 347,000 new jobs and replace 900,000 existing employees who will leave the workforce.
Considering these statistics and others facing the industry, Argentum recently conducted a study to develop a snapshot of senior living operations, challenges and opportunities in the year 2025.
In the study, comments from senior living leaders revealed seven major themes regarding the future of the industry. Among those, workforce challenges continue to be cited as a critical issue. We also found that the challenges facing the industry will inspire a variety of innovations and programs geared toward attracting highly qualified, compassionate and trained professionals.
In the latest issue of Argentum’s magazine, Senior Living Executive, senior living leaders weigh in on some of the techniques and creative solutions intended to cultivate interest in choosing a career in senior living. Those suggestions included:
- Educating the public on what it means to work in senior living
- Attracting and retaining employees with compensation packages that support both professional and personal development
- Increasing support of education programs that prepare workers for senior care careers
- Promoting the value of certifications that encourage quality outcomes and provide individual professional recognition.
Be sure to take a look at the full Senior Living Executive article online.
Furthering the discussion on workforce development, challenges and solutions, Argentum will be hosting a Workforce Development Symposium: The Heart of Senior Living sponsored by OnShift on October 25 in Washington, D.C.
The symposium will convene top senior living executives and business leaders to analyze new research on public perceptions of careers in senior living. In addition, we will examine best practices to measure and increase employee retention and engagement. For more information about the symposium, please visit argentum.org/wdsymposium.
Please note: Registration for the Workforce Development Symposium is open only to Argentum members.
