The Employment Challenge in a Rising Wage Economy

Senior Housing News recently ran an article/editorial discussing the impact that wage pressure is having on the ability of Senior Living Communities to hire and retain staff without blowing the P&L.   In Central Florida, where the two major theme parks (who also are two of the largest employers in the area) are both on the way to a $15/hour starting wage, finding and keeping staff may prove even more challenging in days to come.  We like the article as it also points out something we find operators often forget: the cost of labor goes beyond just an hourly wage; It is also is affected by turnover and the efficiency and operational losses that come with training new employees.  Lots of food for thought, but there do not seem to be any easy answers.

Editor’s Take: It’s Time for Tough Conversations About Wages in Senior Living

 

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