“We Won’t Increase Pay”
“When it comes to salaries and benefits, another community will always be able to up you by a nickel. Instead, we’re focusing on creating our cultural definition of who we are within the market.” Senior Housing News
“We Are Increasing Pay”
The CNA shortage is a long-term structural change caused partly by nursing homes not paying enough to attract and retain workers — a problem compounded by requiring additional shifts or weekends to cover staff shortages.
Bangor Nursing and Rehabilitation has done both — significantly increasing CNA wages and eliminating the requirement for them to stay for additional shifts. It makes no business sense to pay exorbitant fees for CNAs from staffing agencies while waiting for MaineCare, the state’s Medicaid program, to increase reimbursement rates. It is ethical and practical to pay better wages.
(Think twice before clicking through to articles in the Bangor (Maine) Dialy News – lots of ads and surveys)
Staffing Keeps Senior Living CEOs Up At Night
Widespread labor shortages and stiff competition in some markets make hiring good employees particularly challenging these days. Here’s what four senior living CEOs who tackled that very problem. Senior Housing
Technology Helps China’s Family Caregivers
Zhou Lin’s mother has dementia, but she never forgets her bag. In it are cards with contact information and an explanation of her condition, a simple phone with only Zhou’s number saved, and a GPS tracker. Zhou also had the elderly woman’s house equipped with cameras and a device that sends an alert to her smartphone whenever the front door opens. High-tech solutions make taking care of her ailing, 85-year-old mother more bearable. Sixth Tone
90-7-3: Elder care in China can be summed up with the “90-7-3 model” — 90% can take care of themselves, 7% need home-based care, and 3% are incapacitated or senile and therefore require institutional care.
China’s baby boom is enormous compared to the US baby boom, as Zak Dychtwald discussed at the Boomer Venture Summit last week. Click the chart below to view the full presentation on Facebook Live.
Jet Health Has $50 Million In Cash
Jet Health aims to buy up small and mid-sized home care agencies, with $4 million to $30 million annual revenue range, in the Western US. The goal for CEO Jim Glynn is to build a top 10 home health care business in the United States. Home Health Care News
Gen-Z Now The Largest Media Audience
Millennials and Gen-Z comprise 48% of the total media audience. Gen-Z is largest audience segment at 26%. Gen-Z is different from millennials, with implications for brands and marketers. Marketing Land
Brands Face Crackdown On Sexism In UK Ads
In the UK, new ad rules will seek to protect children from “restrictive” gender norms. Marketing Week
How American Families Pay For College
Sallie Mae’s 10th survey of parents and children shows that parents are saving less and students are borrowing more. Retirement
What Advisors’ Retirement Means For The Industry
The investment advisory industry will be unable to keep up with the demand for new advisors to fill the vacancies left by boomers retiring. The number of financial advisors (RIAs) peaked in 2008 at 325,000. By 2014, that dropped to 285,000. Wealth Management
Clients Are Going to Leave If Their Advisors Lower Costs
The new fiduciary rule means brokers will be discouraged from selling high fee and commission products to a customer’s IRA or similar retirement plan. But one survey says customers aren’t happy with lower fees. Hmmm. Advisor
‘Glamping’ Lures Gen X, Boomers With 4-Star Dinners
Vacationers are plunking down thousands of dollars a week to sleep in tents or RVs at luxury “glamping” resorts (glamorous camping, all of the fun but none of the discomfort) resorts featuring massive televisions, private docks, and farm-to-table dinners. USA TODAY