The senior living industry will need to attract and retain a younger, more multicultural workforce by prioritizing integrated technology and flexibility in work arrangements, according to a new CLA (CliftonLarsonAllen) report.
The firm’s 2018 Senior Living Trends white paper also recommended “recognizing the resource potential of older adults interested in remaining part of the workforce.” It also noted that a recent executive compensation study found that 40% of 105 CEOs surveyed will turn 65 within the next five years.
CLA’s proprietary modeling tool, CLA Clarity, was used to analyze financial and quality data from skilled nursing facilities nationwide, the firm said.
The white paper also explored demographic growth, healthcare reform, big data and partnerships and affiliations.
“We see tremendous potential for disruption in the current senior living environment as the impending pace of change becomes overwhelming to those who are unprepared,” said Mario Mckenzie, CLA partner and author of the white paper. “In response, we are asking providers one simple question: What business are you really in?”
The paper can be downloaded at CLAconnect.com/2018trends.