The retirement cliff: How technology can enhance stability in the village workforce

The retirement village sector is facing a pressing challenge. A concerning one-third of village managers have indicated they may not continue in their roles beyond the next three years.

Leading demographer Simon Kuestenmacher has highlighted the impending 'Retirement Cliff' as a significant risk that could severely disrupt staffing within villages. This convergence of factors presents a critical challenge to workforce stability across the sector. Read more about Simon's insights at the National Retirement Living Summit here.

Enhancing communication and collaboration

Beyond efficiency, technology also strengthens communication and collaboration between residents and village teams, which are key factors in maintaining workforce stability.

For example:

• Resident apps: These empower residents to self-serve, book activities, manage additional services, and update personal information, all from the comfort of their homes.
• Real-time communication tools: Village teams can push updates, polls, and surveys directly to residents, offering them a broader range of communication options and keeping them engaged in village life.
  
  

Meeting the needs of a modern workforce

Operations management software is crucial not only for meeting the demands of the Gen X workforce but also for attracting and retaining Millennial employees. Millennials, who seek purpose-driven roles and have little tolerance for environments burdened by menial tasks, are more likely to stay with organisations that offer:

• Flexibility: Remote access and real-time data are essential for today's workforce, allowing for greater flexibility and responsiveness.
• Best practices: Technology supports the implementation of industry best practices, making work more efficient and rewarding.
• Proactive management: Operations management software provides real-time visibility into a largely isolated workforce, enabling proactive management and timely support.
  
  

Prioritising operations management software

To secure the future of their workforce, village operators must prioritise the adoption of operations management software.

By doing so, they can:

• Retain top talent: Prevent burnout and frustration by creating a more supportive and efficient work environment.
• Mitigate risks: Address the challenges the 'Retirement Cliff' poses and other workforce disruptions with a technology-driven approach.

In an industry facing significant challenges, the strategic use of technology will be key to maintaining a stable and resilient village workforce.