Staffing Remains Top Challenge as Seniors Housing Industry Preps for Growth

Lument’s Casey Moore recently spoke with Senior Housing News about the 2024 Senior Living Outlook Survey and Report, released earlier in January.

The report profiled companies across the industry to check the pulse on the biggest opportunities and challenges facing providers in the year ahead. Among the top takeaways is the need for operators to continually improve and enhance employee recruitment and retention strategies. In addition, operators will be seeking strategies to improve margins in 2024, as 41% of survey respondents said they believe margins would be 1% to 4% higher in 2024 compared to last year. To recapture profitable operating margins in a higher interest rate environment, “operators can make deals work, give pay raises and make distributions to investors which will go a long way to soften the blow of higher capital costs,” said Moore.