Staffing and labor issues by far are the biggest concerns of senior living chief financial officers responding to a recent poll by specialty investment bank Ziegler.
Staff recruitment and retention was cited as a top concern by 79% of the almost 160 not-for-profit company executives who participated, Ziegler reported Thursday in its Senior Living Finance Z-News newsletter. Fifty-seven percent of CFOs represented single-site providers, whereas the other 43% were from multi-site providers.
Labor costs, such as wages and benefits, were cited as a top concern by 75% of CFO Hotline survey respondents. All other concerns were cited by less than 48% of the CFOs.
In answer to another question, the top issue that the executives said they were most excited in 2018 was their plans for expansion, either of their campuses or related to a particular level of care. Thirty percent of respondents mentioned it, whereas 13% mentioned growth in general, the next-highest response.
See all of the survey results here.