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The ‘STER’ of DISASTER In the previous issue of the Moreau Report, we highlighted some of the “danger signs” that could spell disaster for your community including Dated Programming, Ineffective Leadership, Staff Turnover Issues and Aging Physical Structure. We then provided some actions that you could take to avoid these pitfalls and keep your community a thriving place to live and work. In this issue, we will take a look at the “S” and “T” of DISASTER by talking about the potential hazards of Sagging Occupancy and Troubled Vision. The final part of the series will conclude in our next issue with Elusive Marketing and Residents Aging-in-Place. S is for Sagging Occupancy. Occupancy rates can be the canary in the coalmine for financial viability of a community. Without dependable, consistent occupancy, your community could quickly lose revenue. The reasons for a declining or low occupancy rate are numerous and much more complex than simply lack of market demand (although this in itself is a very valid reason!) Sagging occupancy could also be attributed to outmoded programming, amenities or residences. The changing aging population now demands both a physical environment and an operational program that supports an independent, healthy lifestyle that is based on a personalized, holistic experience. If your community hasn’t kept up with the times, then newer or renovated communities may trump your marketing efforts. Conducting a master planning process that includes a market study and an operational review can help you understand what your community can do to attract the new generation of older adults and keep your units occupied. Sagging occupancy could also be attributed to a disconnect between what you are marketing yourself as and what you really are. You may think of yourself as offering independent living, but if the programs and unit sizes are dated, then potential residents might see the product more as assisted living. As we stated above, the generation of retirees now entering CCRCs are looking for environments and programs that support a healthy, active lifestyle and may be put off by a community that has a residences, amenities and programming that resembles one found in an assisted living setting. T is for Troubled Vision. The first thing to ask is does your community have a vision statement in place? The second thing to ask is are you actively working towards it? According to Wikipedia, “A Vision statement outlines what a company wants to be. It concentrates on future; it is a source of inspiration; it provides clear decision-making criteria.” A vision statement needs to be clear with realistic aspirations that are achievable. If your community’s vision is unclear or not a priority, then the quality and type of lifestyle you provide is going to be severely impacted. The retirees that are entering retirement communities today are looking for a vision that incorporates a lifestyle focus versus a caretaker community. Retirement housing for them is not about sickness, but about health….about aging well. They are looking for a community that has a strong focus on the part of both leadership and staff – at all levels – to inspire them to be very intentional and proactive about maintaining their health and well-being. They want to expand their opportunities, not contract them. Without a forward thinking vision statement, a vision that focuses on health-making, not just caretaking, your community could be inadvertently hurting itself. If you need help determining a clear, workable vision statement, contact us at moreau@jeanmoreau.com for information on our approach to strategic planning. Look for the conclusion of this series in the next issue of the Moreau Report this fall!
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