{"id":20017,"date":"2018-04-25T10:23:41","date_gmt":"2018-04-25T17:23:41","guid":{"rendered":"https:\/\/www.yardi.com\/blog\/?p=20017"},"modified":"2026-02-22T15:33:24","modified_gmt":"2026-02-22T23:33:24","slug":"yardi-senior-forum","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/yardi-senior-forum\/","title":{"rendered":"Yardi Senior Forum"},"content":{"rendered":"
\"\"<\/a>
James Balda, president and CEO of Argentum, with Ray Elliott, vice president of Yardi Senior Living.<\/figcaption><\/figure>\n

SANTA BARBARA, Calif. – The Yardi Senior Living Forum kicked off two days of classes and networking with an insightful presentation from Argentum President and CEO James Balda, who revealed two of the most pressing challenges facing the senior living industry.<\/p>\n

Argentum, the leading trade organization for senior living, was formerly called the Assisted Living Federation of America (ALFA). The organization recently changed its name to reflect the evolving nature of the industry, Balda shared. Senior living communities now encompass multiple lifestyles and care standards, which require a broader definition than simply \u201cassisted living.\u201d<\/p>\n

Argentum, which means silver in Latin, is intended to reflect the clientele the industry serves as well as the organization\u2019s intent to set leading standards for senior living communities across the nation. With the \u201csilver tsunami\u201d of aging Baby Boomers set to have a major impact over the next decade, there will be an increased focus on senior housing and care.<\/p>\n

But right now, the industry faces two major challenges, Balda revealed: labor shortfalls and declining occupancy.<\/p>\n

\u201cWe are struggling everywhere, in all markets around the country, to find talent,\u201d he said. The industry currently employs around 1 million people, but in the next 7 years will need to hire 1.2 million more. Around 900,000 of those will be replacements for existing staff due to the industry\u2019s high turnover rate in a tight labor market. The additional 300,000 will be new hires to meet the needs of aging Baby Boomers.<\/p>\n

\u201cSenior living isn\u2019t really seen as a career path. Nobody is waking up in the morning as a kid and saying \u2018I want to go into senior living for my career,\u2019\u201d Balda said. But the good news is that senior living does have a compelling mission as an industry and features ample opportunities for advancement. Many current executives began their career paths as frontline caregivers and then moved into the management ranks.<\/p>\n

To help combat the challenges, Argentum plans programming on recruitment that will be introduced at its upcoming conference in San Diego, set for May 14-16 in San Diego. Learn more here<\/a>.<\/p>\n

The other current challenge faced by the senior living industry is low occupancy numbers. Development of senior living facilities in anticipation of the silver tsunami is already well underway, but because those future residents haven\u2019t yet begun leaving their homes, supply is up while the number of prospects is down. There are currently around 10,000 senior living providers in the U.S.<\/p>\n

According to Argentum, compared to ten years ago, seniors typically enter a residential facility later in life, well into their 80s, and stay for an average of 22 months. Meanwhile, communities are facing greater responsibilities for providing resident medical care.<\/p>\n

When coupled with the staffing challenges, the situation sounds daunting, but Balda advocates that technology providers like Yardi are developing solutions that will help.<\/p>\n

\u201cWe are going to need to use technology as a means to become more productive and more efficient,\u201d he said. \u201cI\u2019m talking about information technology, platforms that will enable your caregivers to spend more time with the resident.\u201d<\/p>\n

Yardi\u2019s Senior Living software suite is equipped to handle all stages of the resident journey, from marketing and CRM, to resident care and medical tracking, to family communication and accounting. Learn more here.<\/a><\/p>\n

The Yardi Senior Forum continues through Thursday evening at the Hilton Santa Barbara Beachfront Resort in Santa Barbara. Follow the conversation online and post your own updates using the hashtag #YardiForum.<\/p>\n","protected":false},"excerpt":{"rendered":"

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