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Well-deserved Pat on the Back!

Well-deserved Pat on the Back!

Posted on by MDSadmin

I did a piece last week suggesting that employers should be quick to thank their employees to help build goodwill and employee engagement. Most of the time, all the employees are looking for is acknowledgment of their efforts. I think this also translates well to our clients, prospects, peers, competition, and our industry as a whole.

This week I was rolling out some “Thank You” offers to both our new and loyal readers and it reminded me of what a great industry in which I have the pleasure of serving! Over the last 15 years I have been involved and most of the last 40 that MDS has been in business, there have been a great many changes both good and not as good. The one thing that has remained constant is the quality of people that the industry has attracted and recruited.

Special Industry

This industry as a whole is very quick to take the heat for accidents or individual bad actors because it involves the lives of others and of course this is nothing to take lightly. On the converse, it seems that the industry as a whole is very slow to receive the praise for all the resident days that are logged not only without incident, but with successful outcomes for the seniors served.

I have had this experience from both sides of the table. Of course I work with both Senior Living operators and Senior Consumers on a daily basis, but I have also had family members in every form of Senior Living from Independent Living to Skilled Nursing. I know firsthand that overall, seniors’ lives are enriched because of the services provided. If that’s hard to wrap your head around, then just think of the lives that would be impacted if every Senior Living community closed their doors tonight.

Special People

I really enjoy the camaraderie of my friends and associates in the industry. There are several groups of professionals that serve the Senior Living industry that I meet with regularly. While we are capitalist and do need to make a living, we always consider the other group members when it comes to cross-marketing. We are very attune to opportunities where our group members can benefit.   I think because they all have a giving spirit and that seems to be a common thread throughout those who work in the Senior Living field. That is not just reserved for those who work on the front lines in the communities at the operations level, but to the vendors that serve the operators as well.

The support that people and companies in this industry give to each other is also incredible. Operators are always eager to lend a helping hand to other operators. We all share and collaborate on ways to better serve the senior population. Even vendors who compete in the same product line talk freely and share ideas with other vendors who compete directly with them.

Character Shines Through

Probably one of the most awesome features is that we don’t feel the need to “trash” our competitors in an open forum to make them look bad and us better. I write a lot and while I do get some constructive feedback from time to time, I have never had any harsh criticism. The same goes for me, if I see something I don’t agree with, running someone down in an open forum is not the right thing to do. I have been appalled as of late while reading the Pulse postings on LinkedIn at the amount of negative responses.   I don’t mean just one or two, I am talking about an entire thread of negative comments to some person’s feelings or position. I guess I follow the old adage that if you don’t have something nice to say, you don’t say anything.

Again, I am not talking about a difference of opinion that can be discussed like professional adults, but just rude and non-productive comments that add no value to the conversation and they sure don’t make the commenter look good. In fact, if the person providing the negative comment only knew how shallow and uneducated it makes them appear they would think twice about being negative or so literal to the point you put someone else down.

So, all that to say….Thanks to those who make up the Senior Living industry. From the financiers who take a chance with their money, to the operators and their awesome staff who make it happen day in and day out, and to vendors that serve them all, a BIG THANK YOU, for a job well done and for making this a great industry of which to be a part! If you’re not fortunate enough to work in the Senior Living industry, but work with equally as great people as we do, consider yourself blessed.

 

Roy Barker is Director of Special Projects at Moore Diversified Services, a Fort Worth, Texas-based organization specializing in operations analysis, marketing development, and investment advisory services. Roy is an authority in the field of employee turnover analysis and retention strategies.

 

MDS Would Like To Say Thanks To Loyal Readers With Complimentary Book Chapter and Special Offer

Posted on by MDSadmin

 

As our way of saying thank you to our blog subscribers we are offering A COMPLIMENTARY CHAPTER from Jim Moore’s “Independent Living and CCRCs, Survival, Success & Profitable Strategies for Not-For-Profit Sponsors and For-Profit Owner/Operators”, a must-read sequel to his previous BEST SELLING book “Assisted Living Strategies for Changing Markets”.   Current subscribers, please email roybarker@m-d-s.com and he will gladly forward your complimentary chapter.  If you are not yet a subscriber, simply subscribe to our blog TODAY by placing your email address in the sign up box on the far left hand side of this page and your chapter will automatically be sent to you.

As an added BONUS for our loyal followers (both new and old) we are offering this wonderful work of writing at a PROMOTIONAL RATE! Remember to sign up for our blog (if you haven’t already) and just click the link below to receive your own copy for the special promotional rate of ONLY $40 (shipping and handling included).   This book retails for over $60 with shipping and handling.

SUBSCRIBE TO OUR BLOG TODAY and take advantage of this special promotional price! (For a limited time while supplies last.)

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Don’t Learn the Hard Way: Doing Business in a Foreign Country

Don’t Learn the Hard Way: Doing Business in a Foreign Country

Posted on by MDSadmin

There are certainly many obstacles to doing business in a foreign country. Some of these obstacles include the language barrier, different customs, different laws, and overzealous contractors or agents operating thousands of miles away from you. I was reminded of the latter when I recently came across two similar stories in two different industries.

The first story I saw had to do with an oil company doing business in a foreign country. In this instance, the oil company got a contract with the help of a local agent. The agent became a partner with the company. The country held a national election, which resulted in a change of leadership. The new leadership was not happy with the contract. Allegations of bribery soon followed, which resulted in an investigation under the Foreign Corrupt Practices Act.

While the story didn’t go so far as to say whether or not there was a finding by a legal authority of bribery, the damage to the company was already done. The company was not only distracted, but spent time and money during the investigation. In addition, the company suffered a huge loss of value, tangible assets, and trust the U.S. financial markets, the people and government of the foreign company.

I then read an article in the Wall Street Journal about a couple that was arrested and convicted of purchasing private information of Chinese citizens as part of a due diligence project for GlaxoSmithKline PLC. While it sounds like the pair was involved in something illegal, it’s a reminder that oversight and compliance are critical for doing business overseas. Choosing the wrong associate can have huge implications for you and your company.

These events highlight the importance of choosing your business partners carefully. It’s critical to select an experienced partner dedicated to keeping your company in compliance with foreign rules and regulations. If you have projects foreign or domestic, contact MDS to put its more than 40 years of experience to work for you.

Roy Barker is Director of Special Projects at Moore Diversified Services, a Fort Worth, Texas-based organization specializing in operations analysis, marketing development, and investment advisory services. Roy is an authority in the field of employee turnover analysis and retention strategies.

Was That Really The Question? Ways to Encourage Employee Engagement (part 3 of 3)

Was That Really The Question? Ways to Encourage Employee Engagement (part 3 of 3)

Posted on by MDSadmin

We’re at the end of our blog series focusing on ways to better engage your employees. Last week, we discussed the importance of communication and ways to provide employees with growth opportunities. Today we’ll look at the importance of having fun,as well as, remembering to say thank you.

Remember to Have Fun

While work has that name for a reason, it shouldn’t be drudgery. Inherently, there is usually enough stress involved in getting projects and products out the door to customers. Leaders should make sure they’re not adding extra pressure to this process.

Remember to celebrate more. Acknowledge the success of employees, projects, and any other milestones reached. Celebrations don’t have to be elaborate. It can be as simple as taking somebody a cookie and a Route 44 Coke from Sonic.

Take the time to plan activities for employees and their families outside the office walls. This idea is a little more challenging but very important. Plan lunch out at a favorite local restaurant or a picnic at the local park. This is a great way to get to know your employees and their families. While it’s not always feasible for larger companies to get everyone together at once, it can be done on a departmental level.

I’m not sure why this phenomenon happens, but the advent of computers, cell phones, and the other marvelous technology was supposed to provide us with more free time. Let’s face it. That just hasn’t happened. It seems that we’re all busier now than at any time in the past. That’s why I think it’s very important that we make the extra effort to make these get-togethers happen. Even if that means knocking off work a little bit early and giving employees a chance to participate while on the clock.

Say Thank You…..Often

Enough said really. Get in the habit of saying thank you. When you see employees walking down the hall, stop and thank them. Stick your head in an office or cubicle and say thank you for a job well done. There’s a great misconception that employees typically leave a company for money. Research and my personal experience has shown that not to be true for the majority. Typically, employees leave because they do not feel appreciated. Most of the time all they want is to be acknowledged for a job well done. A simple thank you goes a very long way to engaging employees and creating a nurturing atmosphere.

These are just a few of the many ways to encourage employee engagement. Do some research on your own or let us help you. Find out what’s going on in your company and what your employees desire. You can do electronic surveys. However, it’s always best to have that human involvement. So get out of your office and go talk to your employees. Really listen to how they feel about the company and its processes and procedures. It will go a long way to building trust with employees, and that’s a great first step.

Roy Barker is Director of Special Projects at Moore Diversified Services, a Fort Worth, Texas-based organization specializing in operations analysis, marketing development, and investment advisory services. Roy is an authority in the field of employee turnover analysis and retention strategies.

Addressing The Increasing Resident Entrance Age and Higher Acuity Trend

Addressing The Increasing Resident Entrance Age and Higher Acuity Trend

Posted on by MDSadmin

A few weeks ago we started talking about strategic planning for 2015. It reminded me of an article that Jim Moore, President of Moore Diversified Services (MDS), wrote a few months back titled “Your Top 5 Priorities for Success in 2014.”

 1. The increasing resident age and high acuity trend

 2. Aging physical plants

 3. Sustaining optimum operations and increasing value

 4. Sharpening the focus of increasing value

 5. Risk management needs are expanding

These top 5 suggestions are still very relevant going into the 2015 planning cycle. While you might have some idea of where you want to start your current planning efforts, these 5 would be worth giving some consideration. Over the next few weeks I will take a more in-depth look at each priority.

The definition of Senior Living is changing. There are no longer well defined buckets for Independent Living and Assisted Living. Today’s Senior Living prospects have an older entry age as well as different needs. Independent living has turned into a quasi-independent living and gone are the days of Assisted Living simply providing traditional assistance with activities of daily living in a secure environment. In today’s market it’s important to acknowledge a broad range of resident acuity where many of the residents no longer reside within two easily defined living arrangements – independent or assisted living. Here are four things to consider.

Offer a Catered Living Program
As I mentioned above, many of today’s Senior Living prospects no longer fall within Independent or Assisted living. To meet the needs of this evolving demographic, it’s necessary to offer potential residents the option of tailoring their senior living solution to suit their needs.

Develop a Formal Memory Care Program
Senior Living prospects as well as their families have a heightened awareness of Memory Care. As such, consider incorporating Dementia and special Memory Care settings into new construction or through extensive modification of an existing facility.

Change Product Mix
As the average age of Senior Living customers continues to rise, the need for assistance may increase. To address this, consider modifying your physical plant by increasing Assisted Living and decreasing Independent Living.

Create an Assistance in Living (AIL) program
If local regulations permit, consider creating an AIL program within Independent Living. AIL programs are a great way to help your independent living residents to maintain their independence.

These are just of a few points to think about in how to deal with the increased entry age and higher acuity levels of new residents. It’s also a great idea to talk to your sales team to find out what the trends are at your particular community. What are your prospects asking for? What are their needs and wants in a Senior Living solution?

While planning is very important and necessary, it can be a daunting task while trying to put out the day-to-day fires of any business, but even more so within the Senior Living industry. You have a great resource here at MDS. We have the expertise to help you with your planning needs, as well as in-depth knowledge of all facets of the industry. From new construction and repositioning to operations, marketing, employee retention, and the many other services we have provide over the years, we can help you develop a successful plan for the future of your organization.

MDS’ Retainer Relationship or “Shared Executive” program is a great way to address your strategic planning and monitoring needs all year long. As strategic needs within your operation arise, this program is a great alternative to hiring a full-time executive. You get all the knowledge and industry experience at a fraction of the cost. In the coming weeks, I will outline the program more in-depth. Until then, feel free to give me a call and I will be glad to discuss your individual needs.

Roy Barker is Director of Special Projects at Moore Diversified Services, a Fort-Worth, Texas, based organization specializing in operations analysis, marketing development, and investment advisory services. Roy is an authority in the field of employee turnover analysis and retention strategies.

Are You Happy With Your First Half 2014 Financial Results?

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By Roy Barker

As we move into the second half of 2014, are you happy with your community’s financial results? Are community’s occupancy levels good but you’re still dealing with lower Net Operating Income (NOI), cash flow, and margins?

There’s still time to make changes by the end of the year that can create a positive impact, and Moore Diversified Services, Inc. (MDS) is ready to help. We’re halfway through the year, but there’s still time to have a positive impact on your bottom line.

You might be surprised at how making small changes can result in increased NOI. For example, if an average 80 unit community at 93% occupancy could save just $1 per resident day (PRD), that would equate to $27,000 per year. Even at this point, that could mean an additional $10,000 to $15,000 of NOI in calendar year 2014, and that’s just on $1 PRD of savings! What a great outcome by the end of the year.

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