Skip to Main Content

insightsarticles

Effective onboarding to improve employee retention 

09.07.22

Read this if you are looking to improve retention at your organization. 

Does your organization have a well-thought-out, up-to-date, and effective onboarding program for new hires? If you don’t, it may be time to start. According to research from Brandon Hall Group, organizations with a strong onboarding process: improve retention by 82% and productivity by over 70%. In addition, the report also noted that 93% of employers indicated a positive employee onboarding process was a key driver of retention.   

Why is onboarding a driver of retention? 

Research shows that an employee’s desire to stay with a company—or second guess their decision—starts minute one of their first day of employment. Employees who virtually or literally walk into an environment that has a detailed and supportive onboarding plan begin to feel a sense of belonging and dedication to the organization and are ready to make a difference.  

A successful onboarding strategy prioritizes employee engagement and supports the individual’s learning and development. Generally, an onboarding plan should be in alignment with the strategic planning efforts of the organization—and demonstrate a coordinated effort with a training and development committee to ensure relevance and accountability.  

A tactical approach to provide greater access and enhance training efforts is to create a knowledge management system where documentation, forms, and templates are readily available. In an era of information overload, highlighting and organizing the most relevant resources helps employees make timely and informed decisions. 

Organizations that prioritize the employee experience through onboarding and knowledge management empower and ultimately retain employees.  

Employers focused on retention and effective onboarding should also consider: 

  • Employee journey mapping
    Conduct a detailed review of the employee experience, from recruitment through offboarding, to identify barriers and processes that limit progress or cause challenges. 
  • Training and development assessment
    Determine education needs of current and new employees through formal and informal review, such as surveys, focus groups, and one-on-one conversations. 
  • Strategic planning
    After reviewing current skill sets, compare them with your organization’s strategic plan and vision to identify gaps in knowledge and skills that will prevent you from achieving your goals.
  • Training and development committee
    Bring together a dedicated committee of employees, including an executive sponsor, to identify and deploy training content.  
  • Develop knowledge management system
    Compile and organize your most relevant and helpful resources, training, and templates in a way that is easy to find and access. Track visitation and usage overtime. 

BerryDunn’s team of consultants are happy to assist you with evaluating your process and provide recommendations for improvements to your employee onboarding.

Related Industries

Related Professionals

Principals

  • William Enck
    Principal
    Financial Services, Insurance Agencies
    T 207.541.2300
  • Emily Parker
    Principal
    Education, Healthcare, Not-for-profit
    T 207.991.5182
  • Charles Snow
    Chief Operating Officer of Consulting Services
    Government
    T 207.541.2294

BerryDunn experts and consultants

On the first episode of the Let’s Talk Parks with BerryDunn podcast, we spoke with Shane Mize, the Director of Parks and Recreation for the City of Pflugerville, Texas, and members of the BerryDunn Parks, Recreation, Libraries team about innovative ways to plan, engage, and serve their communities.

For those not familiar with Pflugerville, the city is situated between Austin and Round Rock, Texas. It has been listed as one of the fastest growing cities in the nation. They have a population of roughly 80,000 and their parks and recreation system is made up of over 55 miles of trails, with over 900,000 visits to their park system annually.

On the podcast, Shane talks about the challenges and opportunities of being surrounded by cities that have great parks and recreation departments. Never one to be upstaged, Shane uses innovation in his program, to increase community engagement and ensure the highest level of service to Pflugerville. The end goal: Being the best parks and recreation department in the country.

So let’s take a look at five innovative things the department is doing:

1. Rethinking the master plan

Shane told us that he's not a huge fan of how typical master plans are done. When he realized that he needed one to qualify for grants, he agreed, but on his own terms.

Shane shared his experience in seeking a consulting firm to help with the process, “I just decided that we were going to do things differently and was fortunate to find a firm [in BerryDunn] that … had enough park and rec professionals on it …and was young enough in some of their philosophies.”

He continued, “I think I was in the right place at the right time to push my agenda, which was to have a master plan that looked 100% different than any of the master plans I'd ever seen, and to feel confident and comfortable, not only standing before council, but standing before anybody in my industry.”

BerryDunn’s Jason Genck, the project manager on the master plan project, said, “They expect a high level of service, and they want us to push the envelope quite a bit, and I'm particularly excited about this project because I tend to be attracted to projects that are really creative, certainly innovative, and pushing the envelope.”

When starting the process, Shane told Jason that he wanted the plan to be “the most creative and engaged master planning process the country has ever seen.” Jason and his team completely agreed with this philosophy for Pflugerville and could see applications for other cities and towns.

Jason said, “I think this planning process is disrupting the traditional way of planning because the entire project team is constantly adjusting and re-thinking approaches to maximize the benefits to the Pflugerville community. Yes, we have our standard practices, but, we are having a lot of fun while being inspired to really push innovation in everything we do. While the Pflugerville team and the consultant team are true partners and everyone has such great expertise, we are also learning together how to help create the most vibrant future possible for the community.”

2. Going beyond benchmarking

Shane’s vision for the plan included local feedback as well as feedback from around the country. Jason Genck explained how this is different from what is typically done, “It's not just doing benchmarking, for example. Benchmarking is very common in a planning process, to look at how one organization might be performing against other, similar size, similar scoped organizations—and of course, we do that, and it's always an interesting discussion to reflect on what that is—but in the case of Pflugerville, that wasn't enough.”

“It was, 'Hey, let's take that benchmarking, let's get a think tank together. And you know what? We don't want a think tank of just local leaders. We’d also like you to do a think tank of regional and state leaders. Oh, and by the way, let's actually do a think tank of the best minds of the nation.' And that's just one example of many instances throughout the team's planning processes that are really just taking the traditional services that you might expect to another level.”

3. Constantly evaluating satisfaction

As the team started the master planning process, at the top of the list was getting feedback from the community, which was nothing new to the Pflugerville team. Proactively seeking customer satisfaction is something they do regularly. Another creative example:

Shane shared, “I actually have a staff member that pulls Yelp, Google, and Wedding Wire [reviews] for our wedding event site, and they pull those numbers quarterly and we can see if we've dipped up or down in every single park in the last quarter and any new comments are captured.”

4. Bringing in celebrity voices

This one is for all the fans of the TV show Parks and Recreation. As a way to gain visibility for the master planning process and to get the attention of their constituents, the Pflugerville team had a creative idea. Using the social tool Cameo, they hired actor Jay Jackson, who played character Perd Hapley on the show, for a brief “in character” video message (which you can see on Pflugerville’s Facebook page here). Here’s the message:

Perd: And hello there everyone. Jay Jackson here, aka Perd Hapley. And welcome to, 'You Heard with Perd!' We have some breaking news right now. And that news that is breaking is this: Right now, Pflugerville wants to hear from you as they develop a 10-year parks and recreation master plan. Your participation is very important, so go to pflugervilletx.gov/parksplan to learn more about it. And now that you heard, get involved. I'm Perd Hapley.

The video was widely shared and gained nearly 10,000 views—getting the master planning message out to potentially new audience members.

5. Meeting people where they are – on the road or online

On the podcast, BerryDunn’s Jason Genck described one of his favorite outreach vehicles (literally) that Pflugerville is using to engage citizens all over the city. “Let's pull a 15-foot-wide chalkboard all over the community, which has logged over 120 miles to date, to get into every nook and cranny in the community to make sure everyone knows what's going on with the future parks and recreation and has the opportunity to provide input.” Community members were encouraged to finish the sentence, “Parks matter because…” on the mobile chalkboard as a way to gather feedback on what was important to park users.

The chalkboard is just one way that the team is gathering feedback. Their website has a master planning section, linked to an engagement platform hosted by BerryDunn, where community members can provide ideas and vote for ideas from others. Meeting constituents where they are is helping make this project one of the most engaged planning processes the BerryDunn team has seen.

What’s next? Robots?

Well, maybe! The Pflugerville team has been looking at robots for lining their sports fields, so it can save their staff time and their employees can get back to doing what they do best. Nothing is off the table!

Shane explained that to be successful at innovation, you have to take some risks. He said, “If you're waiting until it's somewhat successful in the public sector, you've missed the mark of innovation. You've missed the mark of doing anything new.”

Listen to the full podcast here:

Article
How Pflugerville and BerryDunn are pushing the envelope on parks and recreation innovation

Read this if you are a plan sponsor of employee benefit plans.

Employee Retention Credit (ERC)

There is still time to claim the Employee Retention Credit, if eligible. The due date for filing Form 941-X to claim the credit is generally three years from the date of the originally filed Form 941. 

The ERC is a refundable payroll tax credit for wages paid and health coverage provided by an employer whose operations were either fully or partially suspended due to COVID-related governmental orders or that experienced a significant reduction in gross receipts. 

The amount of the credit can be substantial. For 2020, the credit is 50% of the first $10,000 of qualified wages per employee for the qualifying period beginning as early as March 12, 2020, and ending December 31, 2020 (thus the max credit per employee is $5,000 in 2020). For 2021, the credit is 70% of the first $10,000 of qualified wages per employee, per qualifying quarter (thus the potential max credit is $21,000 per employee in 2021). 

For 2021, employers with 500 or fewer full-time employees in 2019 may include all wages and health plan expenses as qualified wages. For 2020, employers with 100 or fewer full-time employees in 2019 may include all wages and health plan expenses as qualified wages while employers with more than 100 full-time employees in 2019 may only claim the credit for qualified wages paid to employees who did not provide services. For purposes of determining full-time employees, an employer only needs to include those that work 30 hours a week or 130 hours a month in the calculation. Part-time employees working less than this would not be considered in the employee count.

There is additional interplay between claiming the ERC and the wages used for PPP loan forgiveness that will need to be considered. 

Student loan repayment programs

One of the benefits younger employees would like to receive from their employer is assistance with student loan repayments. A recent study indicated an employee would commit to working for an employer for at least five years if the employer assisted with student loan payments. Some employers have been providing such a benefit and, until 2020, any student loan payments made by the employer would have been considered taxable income. 

Beginning in 2020 and through 2025, at least for now, employers are permitted to provide tax-free student loan repayment benefits to employees. In order to receive tax-free payments, such a plan must be in writing and must be offered to a non-discriminatory group of employees. In addition, the tax-free benefit must be limited to $5,250 per calendar year. Now may be the time to consider offering student loan repayment benefits to help retain and attract employees.

Automatic enrollment for employee deferrals in 401(k)/403(b) plan

Most employers offer an employer-sponsored retirement plan such as a 401(k) plan or 403(b) plan to their employees. However, the federal government and several state governments are concerned that employees are either not saving enough for retirement and/or do not have access to an employer-sponsored retirement plan. Some states are mandating the establishment of an employer-sponsored retirement plan, or mandatory participation in a state-sponsored multiple employer plan (MEP). Other states are mandating that employers who do not sponsor a 401(k) or 403(b) plan provide automatic employee payroll deductions into a state-sponsored Individual Retirement Account (IRA) type vehicle sponsored by the state. If you do not already sponsor a 401(k) or 403(b) plan you should confirm if your state has any requirements.

For those employers who do sponsor a 401(k) or 403(b) plan, you should consider implementing an automatic enrollment provision if you have not done so already. Automatic enrollment requires a certain percentage of an employee’s wages to be withheld and deposited into the 401(k) or 403(b) plan each pay period, unless the employee elects otherwise. While the current law does not require an employer to use automatic enrollment, there is pending legislation that would require an automatic enrollment provision in any new retirement plan. Even though existing plans would be grandfathered under the pending legislation, it may be worth implementing an automatic enrollment provision in the 401(k) or 403(b) plan to help and encourage employees to save for retirement. 

If you have questions about any of these or other employee benefit topics, please contact our Employee Benefits Audit team. We're here to help.

Article
Employee benefit plan updates: The Employee Retention Credit and student loan repayment programs

Read this if you want to understand the new lease accounting standard.

What is ASC 842?

ASC 842, Leases, is the new lease accounting standard issued by the Financial Accounting Standards Board (FASB). This new standard supersedes ASC 840. For entities that have not yet adopted the guidance from ASC 842, it is effective for non-public companies and private not-for-profit entities for reporting periods beginning after December 15, 2021.

ASC 842 (sometimes referred to as Topic 842 or the new lease standard) contains guidance on the accounting and financial reporting for agreements meeting the standard’s definition of a lease. The goal of the new standard is to:

  • Streamline the accounting for leases under US GAAP and better align with International Accounting Standards lease standards 
  • Enhance transparency into liabilities resulting from leasing arrangements (particularly operating lease contracts)
  • Reduce off-balance-sheet activities

What is the definition of a lease under the new standard?

ASC 842 defines a lease as “A contract, or part of a contract, that conveys the right to control the use of identified property, plant, or equipment (an identified asset) for a period of time in exchange for consideration.” 

This definition outlines four primary characteristics to consider: 1) an identified asset, 2) the right to control the use of that asset, 3) a period of time, and 4) consideration.

(For a deeper dive into what constitutes a lease, you can download the BerryDunn lease accounting guide here.) 

How will this affect your organization?

  • Lease arrangements have to be classified as finance, operating, or short-term leases. In general accounting for the lease asset and liability is as follows:

    • For finance leases, use the effective interest method to amortize the liability, and amortize the asset on a straight-line basis over the lease term. Note that this has the effect of “front-loading” the expense into the early years of the lease.

    • For operating leases (e.g., equipment and some property leases), the lease asset and liability would be amortized to achieve a straight-line expense impact for each year of the lease term. ASC topic 842 establishes the right-of-use asset model, which shifts from the risk-and-reward approach to a control-based approach. 
  • Lessees will recognize a lease liability of the present value of the future minimum lease payments on the balance sheet and a corresponding right of use asset representing their right to use the leased asset over the lease term. 
  • The present value of the lease payments is required to be measured using the discount rate implicit in the lease if its readily determinable. More likely than not it will not be readily determinable, and you would use a discount rate that equals the lessee’s current borrowing rate (i.e., what it could borrow a comparable amount for, at a comparable term, using a comparable asset as collateral).
  • It will be critical to consider the effect of the new rules on your organization’s debt covenants. All things being equal, debt to equity ratios will increase as a result of adding lease liabilities to the balance sheet. Lenders and borrowers may need to consider whether to change required debt to equity ratios as they negotiate the terms of loan agreements.

Time to implement: What do you need to do next?

The starting place for implementation is ensuring you have a complete listing of all known lease contracts for real estate property, plant, and equipment. However, since leases can be in contracts that you would not expect to have leases, such as service contracts for storage space, long-term supply agreements, and delivery service contracts, you will also need to broaden your review to more than your organization’s current lease expense accounts. 


We recommend reviewing all expense accounts to look for recurring payments, because these often have the potential to have contracts that contain a lease. Once you have a list of recurring payments, review the contracts for these payments to identify leases. If the contract meets the elements of a lease—a contract, or part of a contract, that conveys the right to control the use of identified property, plant, or equipment (an identified asset) for a period of time in exchange for consideration—your organization has a lease that should be added to your listing.

Additionally, your organization is required to consider the materiality of leases for recognition of ASC 842. There are no explicit requirements (that, of course, would make things too easy!). One approach to developing a capitalization threshold for leases (e.g., the dollar amount that determines the proper financial reporting of the asset) is to use the lesser of the following: 

  • A capitalization threshold for PP&E, including ROU assets (i.e., the threshold takes into account the effect of leased assets determined in accordance with ASC 842) 
  • A recognition threshold for liabilities that considers the effect of lease liabilities determined in accordance with ASC 842

Under this approach, if a right-of-use asset is below the established capitalization threshold, it would immediately be recognized as an expense. 

It's important to keep in mind the overall disclosure objective of 842 "which is to enable users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases". It's up to the organization to determine the level of details and emphasis needed on various disclosure requirements to satisfy the disclosure objective. With that objective in mind, significant judgment will be required to determine the level of disclosures necessary for an entity. However, simply put, the more extensive the organization's leasing activities, the more comprehensive the disclosures are expected to be. 

Don't wait, download our lease implementation organizer (Excel file) to get started today! 

Key takeaways and next steps:

  •  ASC 842 is effective for reporting periods beginning after December 15, 2021
  • Establish policies and procedures for lease accounting, including a materiality threshold for assessing leases
  • Develop a system to capture data related to lease terms, estimated lease payments, and other components of lease agreements that could affect the liability and asset being reported
  • Evaluate if bond covenants or debt limits need to be modified due to implementation of this standard
  • Determine if there are below market leases/gifts-in-kind of leased assets

If you have questions about finance or operating leases, or need help with the new standard, BerryDunn has numerous resources available below and please don’t hesitate to contact the lease accounting team. We’re here to help. 

Lease accounting resources 

Article
ASC 842 lease accounting—get started today before it's too late

Read this if you are working on a well-being program at your organization. 

When looking to develop or enhance well-being programs at work, many organizations don’t know where to start. A well-being survey is a smart first step to solidify your organization’s approach to supporting a thriving workforce. An effectively designed well-being survey will not only provide valuable insights to the needs of your workforce, it will also be repeatable so you can measure the success of your well-being efforts over time. Here are five tips to help you create a successful well-being survey.  

  1. Include questions about organizational culture. It is unlikely you will engage every single employee with well-being programs and benefits. Some people just like to do their own thing. However, organizational culture is something that influences everyone and is the ultimate source of empowerment for employee well-being. Including at least a couple of questions that assess how effectively your workplace culture promotes well-being will give you the broadest sense of whether you are on the right track with your well-being efforts. 
  2. Carefully consider wording. There is a big difference between the question “How well does our organization support your well-being?” and “How satisfied are you with our organization’s support for your well-being?” For instance, an organization may invest heavily in mental health, but that support may not be resonating with employees. The second question will provide clear insights into how well the organization’s well-being efforts are connecting with employee needs. 
  3. Have a strategy to promote engagement. Your survey response rate can be influenced by who sends the survey and who sends the survey reminder. While it may be logical for the survey to come from Human Resources, we suggest having the survey come from either the Chief Executive Officer or Chief Operations Officer (or equivalent). This signifies that your organization views well-being as a business strategy. Survey reminders tend to be most effective when sent from department managers. This reinforces the messaging about well-being being a business strategy and signifies commitment at all levels of leadership. 
  4. Include space for open comments. Multiple choice and basic ranking questions can help keep a survey direct and are easy to respond to. They also provide data that is easier to analyze and compare year over year. However, it’s not possible to anticipate every need with multiple choice questions, and some of the best suggestions and ideas, as well as some of the most constructive remarks, will come in the form of open commentary. 
  5. Keep it anonymous but collect some demographic data. An anonymous survey will not only result in more candid feedback, but it will also avoid inadvertently collecting personal health information that may be disclosed (particularly in open comments). Having optional questions to self-identify department, office, or work arrangement (hybrid, remote, in person) can help identify high-risk groups ('high risk' meaning those who have a low perception of their well-being and the organizational culture). Making these questions optional reduces the risk that an employee will abandon the survey due to fear of being identified based on demographic responses (e.g., an employee who is the only remote employee in their department). 

A well-designed well-being survey can serve as a launchpad for a transformational well-being initiative, especially if your organization is prepared to report and act on results. For more information on how your organization can create and deliver a well-being survey, or if you have other well-being program questions specific to your organization, please contact our Well-being consulting team. We’re here to help.

Article
Five tips for employee well-being surveys that work

Read this if you are a New Hampshire resident or do business across state lines.

On June 17, 2022, New Hampshire’s Governor, Chris Sununu, signed House Bill 1097 (HB1097) into law. This new legislation asserts that income earned and received by residents of the State of New Hampshire for services entirely performed within the state may not be subject to income taxation in any other state.

The signing of this bill was in response to the US Supreme Court declining to hear a case in which the state of New Hampshire sued the Commonwealth of Massachusetts. This case stemmed from the Commonwealth issuing temporary and early guidance as the pandemic forced New Hampshire workers who would normally commute to Massachusetts to work from home. The early guidance directed employers to maintain the status quo: Keep withholding income tax on your employees in the same manner that you were, even if the workers may not be physically coming into the Commonwealth.

Even though the Massachusetts Department of Revenue lifted the emergency telecommuting rules effective September 2021, New Hampshire lawmakers wanted to prevent any future personal income taxation of its residents who work remotely for a company in another state. For more context, read the July 2021 article from our state and local tax team about the dispute between Massachusetts and New Hampshire.

New Hampshire’s recently passed legislation was an example of its desire to protect its favorable business climate, defined in part by its lack of personal income tax, from the perceived overreach of its neighboring states. Although the telecommuting rules imposed by Massachusetts are no longer effective, House Bill 1097 was introduced to discourage any subsequent taxation of New Hampshire residents who are performing work solely in the Granite State.

This issue of interstate taxation is not unique to New Hampshire and Massachusetts, as dozens of other states have issued temporary regulations and requested guidance from the Supreme Court. As these issues rise in prominence, it will be important for both employee and employer taxpayers to review the guidance issued by each state to confirm the applicable tax treatment is proper.

If you have questions about how the tax law changes may affect you, please contact a member of our state and local tax team.

Article
New Hampshire says no to income taxation by neighboring states

Editor's note: read this if you are a CFO, controller, accountant, or business manager.

We auditors can be annoying, especially when we send multiple follow-up emails after being in the field for consecutive days. Over the years, we have worked with our clients to create best practices you can use to prepare for our arrival on site for year-end work. Time and time again these have proven to reduce follow-up requests and can help you and your organization get back to your day-to-day operations quickly. 

  1. Reconcile early and often to save time.
    Performing reconciliations to the general ledger for an entire year's worth of activity is a very time consuming process. Reconciling accounts on a monthly or quarterly basis will help identify potential variances or issues that need to be investigated; these potential variances and issues could be an underlying problem within the general ledger or control system that, if not addressed early, will require more time and resources at year-end. Accounts with significant activity (cash, accounts receivable, investments, fixed assets, accounts payable and accrued expenses and debt), should be reconciled on a monthly basis. Accounts with less activity (prepaids, other assets, accrued expenses, other liabilities and equity) can be reconciled on a different schedule.
  2. Scan the trial balance to avoid surprises.
    As auditors, one of the first procedures we perform is to scan the trial balance for year-over-year anomalies. This allows us to identify any significant irregularities that require immediate follow up. Does the year-over-year change make sense? Should this account be a debit balance or a credit balance? Are there any accounts with exactly the same balance as the prior year and should they have the same balance? By performing this task and answering these questions prior to year-end fieldwork, you will be able to reduce our follow up by providing explanations ahead of time or by making correcting entries in advance, if necessary. 
  3. Provide support to be proactive.
    On an annual basis, your organization may go through changes that will require you to provide us documented contractual support.  Such events may include new or a refinancing of debt, large fixed asset additions, new construction, renovations, or changes in ownership structure.  Gathering and providing the documentation for these events prior to fieldwork will help reduce auditor inquiries and will allow us to gain an understanding of the details of the transaction in advance of performing substantive audit procedures. 
  4. Utilize the schedule request to stay organized.
    Each member of your team should have a clear understanding of their role in preparing for year-end. Creating columns on the schedule request for responsibility, completion date and reviewer assigned will help maintain organization and help ensure all items are addressed and available prior to arrival of the audit team. 
  5. Be available to maximize efficiency. 
    It is important for key members of the team to be available during the scheduled time of the engagement.  Minimizing commitments outside of the audit engagement during on site fieldwork and having all year-end schedules prepared prior to our arrival will allow us to work more efficiently and effectively and help reduce follow up after fieldwork has been completed. 

Careful consideration and performance of these tasks will help your organization better prepare for the year-end audit engagement, reduce lingering auditor inquiries, and ultimately reduce the time your internal resources spend on the annual audit process. See you soon. 

Article
Save time and effort—our list of tips to prepare for year-end reporting

Read this if you are a leader in the healthcare industry.

BerryDunn recently held its first annual Healthcare Leadership Summit. Here are some highlights of the topics, presentations, and discussions of the day. 

Healthcare CFO survey results

The day began with an industry update where Connie Ouellette and Lisa Trundy-Whitten had the opportunity to present with Rob Culburt, Managing Director, Healthcare Advisory, The BDO Center for Healthcare Excellence & Innovation. Rob shared highlights from a recent survey of healthcare CFOs by The BDO Center for Healthcare Excellence & Innovation, while Connie and Lisa reflected on the similarities between study results and hospital and senior living clients.

It was no surprise the study found one of the most significant challenges CFOs are facing at both the national and local level is the sustained strain on healthcare systems amid the pandemic, and ongoing supply chain and workforce struggles. Additionally, providers are concerned about the upcoming reporting and regulation requirements. Also top of mind are the Provider Relief Fund (PRF) reporting requirements, as the requirements have been ambiguous and ever changing. There is also concern among survey respondents that a misinterpretation or reporting error could cause providers to have to pay back funding they received from PRF.

The BDO healthcare survey reported that 63% of the providers who responded to the survey are thriving, but 34% are just surviving. Out of those surveyed, 82% expect to be thriving in one year. You can view the full results of the survey here

Recruitment and retention in the current climate

Recruitment and retention of direct care providers are significant challenges within the senior living industry. Providers are facing workforce shortages that are forcing them to temporarily suspend admissions, take beds off line, and, in worst case scenarios close whole units or facilities. Sarah Olson, BerryDunn's Director of Recruiting and Bill Enck, Principal at BerryDunn discussed factors leading to the talent shortage, and shared creative short- and long-term recruitment and retention strategies to try.

Change management

The pandemic has forced many in healthcare to rethink how they operate their facilities. Employees have had to pivot on a moment’s notice, and in general do more with less. However, there are still initiatives that need to be undertaken and projects that must be completed in order for your facility to operate and remain financially viable. How do you manage the change associated with these projects? Can you manage the change without burning out your employees? Dan Vogt, BerryDunn Principal, and Boyd Chappell from Schoolcraft Memorial Hospital provided tips and strategies for managing change fatigue. 

Overall, the Leadership Healthcare Summit proved to be an informative and engaging event, and many new ideas and forward-looking strategies were shared to help enable providers to continue to weather current challenges and pistion themselves for success. For more in-depth information on these topics and others discussed, please visit our Healthcare Leadership Summit resources page

Article
Top three takeaways from BerryDunn's first annual Healthcare Leadership Summit