8 Senior Living Workforce Trends for 2023 by Julie Rupenski, Founder & CEO, MedBest Recruiting
Today's workplace and workforce are constantly evolving. With it, the way we hire and retain top talent. To keep up with these changes, senior living leaders must rise to the occasion and remain flexible to make changes where necessary.
With that in mind, here are 8 workforce trends that you may want to focus on as we go into 2023!
Candidate Experience Key in Recruiting
Strong competition for talent in senior living will still define the hiring market in 2023 despite high inflation and rising interest rates. Whether a candidate accepts the position, may come down to the “candidate experience.” The candidate experience pertains to how a job seeker perceives your brand throughout the hiring process, from the job description to how responsive you are during the interview process. It will influence a candidate's decision on accepting or declining your job offer.
Interim Talent on the Rise
Due to the continued talent shortage, senior living organizations will rely more on interim executives and professionals to meet workforce needs. There are several benefits to utilizing interims. They are experienced, highly skilled, and mission-oriented industry professionals who assimilate quickly into new environments. They help to prevent business disruption by temporarily filling key roles during a leave of absence or while the company searches for a permanent hire. This will also take the pressure off and allow you to fully vet permanent candidates.
Boomerang Employees Play Role
70% of professionals who left their jobs in 2021 & 2022, have remorse reported Fox News. While leaving for greener pastures or retiring early sounded like a good idea at the time, the downturn in the economy is creating more Boomerang Employees! Boomerang employees, also dubbed the “comeback kids”, are those employees who left their employers and positions voluntarily only to return. Senior living organizations should think seriously about rehiring them since they represent one of the most promising talent pools.
Unlimited PTO Gaining Ground
With a labor shortage and burnout prevalent in the senior living industry, organizations are figuring out creative ways to hold on to their workers. New research from Glassdoor found that unlimited PTO policies are becoming increasingly popular. Employers that encourage time off as a way to proactively recharge their employees, are creating healthy boundaries and attractive workplaces. Actually, allowing and encouraging them to use their PTO is nice too!
DEI Initiatives Prove Extremely Valuable
Current DEI initiatives often amount to little more than mandatory training. However, with a looming recession, organizations who fail to implement and understand DEI initiatives, could be making a big mistake. According to a new report by Accenture, “organizations that make DEI a priority would result in more profits due to increased productivity and savings from lower turnover rates.” Profits created by DEI initiatives along with healthier workplace cultures, can help a company in market uncertainties.
Millennials are Driving Force
There are 75 million Americans born between 1981-1996 who represent the Millennial Generation. By 2025, they will dominate the workforce. They're rapidly becoming managers and even senior executives. Today, the average age of a first-time manager is around 30. Expect them to bring a wave of change on how work gets done. They support flexibility in schedules, seek empowerment and regular feedback, believe in training via online and utilizing mentors, want full transparency and a sense of purpose to their work. With the Millennials becoming a huge part of the workforce and management, they're certainly going to have an influence on your organization.
Risk Management Career Remains Hot
The pandemic pushed the healthcare, senior living, and long-term care industries into the spotlight like never before. Risk managers stood out as essential to organizational survival. Almost overnight, risk managers have become one of the most sought-after professionals. Their job is to minimize damages whenever incidents occur. That means, they identify, analyze, and respond to any risk factors that surround their organization. Then, they must figure out what precautionary measures to take to limit injury and harm.
Greater Investments in Technology
Investing in technology is a high priority within the senior living space. Emerging technologies save staff valuable time while also enhancing resident care. Some examples include voice controlled personal assistants that can order food, close shades, regulate room temperature, etc., Wearable devices that monitor vitals and the whereabouts of residents, and Telehealth that saves nursing staff time from having to transport patients for medical care. Technology that automates daily tasks, frees staff from an overload and often enables facilities to handle greater workloads without additional hiring.
MedBest is an award-winning national Executive Search Firm exclusive to the Senior Living Industry. For more than two decades, we have connected senior living organizations with exceptional senior living executive talent for both permanent and interim roles. MedBest was named as one of American's top companies by Inc.5000 plus we are a Tampa Fast 50 Company!