Good Economy and Sleepless Nights

What keeps you up at night? Staffing? Difficult employees or families? Maybe you have to fire someone tomorrow and you’re having a tough time getting to sleep tonight. Whatever keeps you from getting a full-night’s rest is probably staff-related and is one of the following challenges: recruiting qualified staff, retaining good employees, and developing their skills. And all of this while dealing with the challenges of a strong economy. Right now, we have the lowest employment in 49 years!

It’s The Economy, Stupid!

Do you remember that line from James Carville? The economy is buzzing right now and it is an employees’ market. What does that mean? It means that employees can leave their jobs for any reason like perceptions of unfair practices, being overlooked for a promotion, or simply not getting along with their coworkers. And guess what? Your staff can go almost anywhere they want and find another job. There are more jobs than people at the moment and if they feel the grass is greener elsewhere, they might leave. If they can make a dollar more, they may find a reason to quit.

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There is pressure everywhere – from families to finances and you and your employees are right in the middle of everyday operations and a booming economy. Looming questions like occupancy and census while employees are coming and going are enough to make anyone dizzy. On any given day, 25% to 33% of your staff are actively looking for other jobs. That will keep you up at night, too!

Don’t Lose Focus

One way to get a good night’s sleep is to focus on your people. They matter most. Census will go up and down. The economy will swing upwards and then the market will sink in a day. The labor market is very competitive right now so you must place a lot of your eggs into one basket – your employees. Why would a candidate be attracted to your workplace? What do you have to offer that no one else does? Are you attracting the right people for the right jobs? Meditate on this before you go to sleep: “We need to find meaningful ways to attract, develop, and retain the best employees.”

Find, Develop and Keep Them

Who knows how long this economy will remain this strong. To hedge your bet, first start by recruiting the best and most qualified professionals you can find. It is expensive anyway, so why settle for second best when you’re spending so much money to recruit new hires? Your main job is to develop people once you bring them in. Work on not only technical skills but developing caring attitudes. Try your best to turn them into a group of employees that will fulfill what your seniors need in your care community. Want to hear something scary? We will need to fill 1.4 million positions in senior care between now and 2025. How are you sleeping now? Along with constant development, provide the little things that matter most to people in any job. Address them by their name. Say hello. Ask about their family. Tell them it’s so good to see their face and hear their voice. Let them know you are a leader that is smart and have a heart.

Final Words

We can complain when the economy is bad and unfortunately, when the economy is strong, as in the case today. Employees can go anywhere they want for a job. They are looking for more money, flexibility, a family-first policy, and respect. If you don’t give your team what they want, need or deserve, you are surely going to lose them. Nighty, night!