Labor Market Challenges

By:  Shawn Rader.  A recent article by Beth Burnham Mace in the National Real Estate Investor talked about labor market conditions for the senior housing sector as being extremely challenging. While wages are rising especially in states and municipalities with increased minimum wages, there is a shortage of workers which is also driving operating costs up.  Operators are using enhanced benefit programs to try and entice employees and to stem the ever present problem of turnover.  Staff turnover is a problem that can lower the morale of residents and negatively impact the attractiveness of a senior housing facility.

Enacting benefits, rewards and recognition programs along with the change in immigration laws could go a long way to resolving the issue.

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