At a time when the senior living industry still faces much uncertainty, Brookdale Senior Living (NYSE: BKD) executives are bold and bullish in their outlook for 2022. The Brentwood, Tennessee-based provider last week issued its first annual guidance since the start of the Covid-19 pandemic. Brookdale’s FY22 adjusted EBITDA expectations of $240 million to $260 […]
Covenant Living Communities and Services is not immune to the staffing pressures felt by the rest of the senior living industry — but President and CEO Terri Cunliffe sees signs they might not last long-term. While the industry is grappling with attracting and retaining workers amid the period known as the “great resignation,” Cunliffe is […]
“Our most important job now is to look forward.” These are the words of Brandywine Living Co-Founder, CEO and President Brenda Bacon, spoken last week on the eve of her induction into the American Seniors Housing Association (ASHA) Senior Living Hall of Fame. Rather than using the occasion to reflect on her decades of accomplishment […]
By Lynne Katzmann In the last several weeks, I have attended birthday celebrations for both a 102- and 106-year-old resident. So while people may be coming to senior living later, many will live longer. In fact, a recent study released by the Stanford Center on Longevity states that 50% of today’s 5-year-olds are likely to […]
Nearly 80% of respondents to a recent seniors housing industry survey reported that caregivers and hourly employees face critical levels of burnout and another 80% said that staffing shortages are the biggest issue they face. OnShift, a Cleveland-based human management software company, revealed the results of its third annual Workforce 360 Survey earlier this month. […]
One year ago, vaccine clinics were just getting underway in senior living communities, raising hopes for a better year ahead after the devastating toll exacted by Covid-19 in 2020. While Covid-19 vaccines have been a gamechanger for senior living providers, the quotes below reflect that 2021 presented plenty of daunting challenges, including unprecedented labor pressures. […]
Aegis Living is set to pilot its own staffing agency in a move aimed at saving millions of dollars in workforce expenses and potentially creating a new business line down the road. The Bellevue, Washington-based operator in January plans to launch the new agency in Seattle, where it has 17 communities and five more under […]
Lifespace Communities is boosting pay rates across its portfolio of 14 continuing care retirement communities (CCRCs) over the next two months, with many of its 3,600 employees seeing double-digit percent increases. As a result, the nonprofit organization will pay out $17 million more in wages in 2022, compared to this year. The average increase will […]
The ongoing workforce crisis has been among the hottest topics at this week’s National Investment for Seniors Housing & Care (NIC) conference, and attention will be fixed on labor-related numbers when the largest publicly traded senior living owners and operators announce their Q3 2021 earnings later this week. While these earnings calls will provide some […]
Across U.S. primary markets, senior housing occupancy could return to pre-pandemic levels in less than 2 years if absorption continues at its recent rapid pace — but occupancy recovery could take far longer if absorption slows. Specifically, if absorption returns to its average pace between 2010 and the first quarter of 2020, occupancy recovery might […]
