Workforce recruiting and retention efforts in the seniors housing and care sector are particularly challenging today. During a panel discussion at the 2019 NIC Fall Conference, representatives from leading operating companies shared their strategies for attracting and retaining top talent.
With record attendance, the 2019 NIC Fall Conference in Chicago last week brought together more than 3,300 participants for three days of networking, educational sessions, receptions, and high-profile speakers such as former Federal Reserve Chair Janet Yellen. Programming focused on current market trends and innovations as well as how to best address the disruptions facing the industry. Experts provided insights into effective operational strategies as well as changing capital flows and deal structures.
The NIC MAP® Data Service recently released national monthly data through June 2019 for actual rates and leasing velocity. The NIC Actual Rates initiative is driven by the need to continually increase transparency in the seniors housing sector and achieve greater parity to data that is available in other real estate asset types. Having access to accurate data on the monthly rates that a seniors housing resident pays as compared to asking rates helps NIC achieve this goal.
Building off the momentum, enthusiasm, and focus of NIC’s recently released Middle Market Study, NIC will open and close the 2019 Fall conference with two sessions dedicated to this topic. The study, funded by NIC and conducted by NORC at the University of Chicago, revealed there is a substantial market that private-pay seniors housing currently is not serving. This is the cohort who do not qualify for Medicaid but may not have sufficient resources to pay for private seniors housing as it exists today. More than half of these individuals are projected to have mobility limitations by 2029 and other health care needs.