Download a PDF of the brief.
Ferguson Partners recently partnered with ASHA to create the special brief Succession Planning in Senior Housing.
As we enter 2022, the seniors housing industry finds itself at an inflection point. On one hand, the sector still faces significant challenges stemming from the COVID-19 pandemic and the lingering impacts felt across the broader economy (e.g., occupancy rates, staffing shortages, new safety protocols, etc.). At the same time, however, there are significant growth opportunities within the space given the aging U.S. population. While these factors push and pull against each other, strong leadership has never been more important and will likely differentiate those that capitalize on the favorable demographics and those that do not.
This also comes at a time when the industry is in the midst of a generational transition, where many of its founders and CEOs are nearing retirement age. Over the next 10 years, the face of senior housing leadership will undoubtably change. It will be the next generation of leaders that will determine how the seniors space evolves. This will require leaders that are capable of executing a strategy, understanding the unique dynamics of the sector, and motivating and leading broad teams. Further, this opportunity opens the door to further explore diversity of thought and background, which can give way to even greater innovation and creativity in solving the industry’s greatest challenges.
The brief reflects direct one-on-one conversations that Ferguson Partners conducted with industry leaders, as well as our own observations from years of working with clients on developing such programs, and offers critical considerations and best practices designed to help leaders of seniors housing platforms effectively plan for the future.