Senior Living

As the senior living industry grapples with a pressing challenge – a significant staffing gap caused by the shortage of caregivers – innovative solutions are urgently needed. 52% of assisted living providers say their overall workforce situation has deteriorated since the beginning of 2022. 63% are experiencing staffing shortages with a quarter of those providers saying they have a high level of staffing shortages. To confront these obstacles head-on, operators must go beyond conventional methods and explore new avenues to attract, hire, and retain skilled caregivers.

The senior living industry is grappling with a significant staffing gap caused by the caregiver shortage. Currently, there is a shortage of more than 400,000 workers in the sector, a large portion of that is caregivers, and this number is projected to soar to over 20 million workers by 2040.

Across the country, senior living facilities have reached record low occupancy rates as they’ve dropped to 78.7 percent in Q1 2021, an 8.7 point decline from a year ago. According to the NIC MAP Vision, this is the fourth consecutive quarterly decline since the pandemic. As more people get vaccinated against COVID-19 and cases and deaths decline, the senior living industry is getting closer to making a comeback.