Argentum has unveiled a new strategic vision aimed at extending the success of the past three decades in offering older Americans non-institutional long-term care now and well into the future. As we emerge from the past few years Argentum, through our Board of Directors and with input from members and stakeholders, has reflected on the future of the senior living industry and launched a strategic planning process to assess where we have been and identify where we are going. This strategic planning process sought to identify emerging trends, headwinds, and tailwinds affecting the senior living industry so we could identify a vision of what the industry could be in the ten-years.
Crafted over the course of a year under the leadership of the Argentum Strategic Planning Task Force, the strategic plan benefits from the wisdom of hundreds of Argentum members and other stakeholders who participated in interview sessions at events and in other venues. The vision is built on the foundation of People. Trust. Choice. — three tenets that we need to get right as an industry if we are going to be successful.
PEOPLE: Our industry is about caring for people and helping them thrive. We do this by helping connect seniors to relationships, and to a sense of meaning and purpose. And this extends to our team members as well, providing an opportunity for a rewarding and fulfilling career. People must come first. We need to promote this idea by caring for the whole person through socialization, meaning, and wellness for both our seniors and our diverse, inclusive, and equitable workforce.
TRUST: It is up to us to continue to establish trust with our stakeholders, and the most effective way is through transparency and data. To measure the effectiveness of our efforts and adjust accordingly. If we truly believe our model of care is the most effective means for people to thrive as they age, then we must be able to prove it through data.
CHOICE: We must never forget that consumers have a choice. Our residents choose where to live and more importantly how to live. They act as our quality control measure. Our today’s workers also choose where to work and how long to stay. We must monitor those choices and adapt to changing needs. It also means we need to be proactive with regulations, so we have a say in our future and critically to protect the fundamental right of choice for seniors and their families.
Overall, our plan is designed to engage, develop, and support 2 million career opportunities in the profession as well as improve policymaker perceptions of the senior living industry and to increase access to the senior living product. This three-year plan focuses on four distinct strategic imperatives:
- Developing Our People: Expand the pipeline and retention of qualified and diverse talent to meet the needs of a growing senior population.
- Measuring What Matters: Maintain trust with residents, families, workers, partners, policymakers and the public through data, transparency and best practices.
- Telling Our Story: Advocate and increase our impact as the voice of the senior living industry.
- Increasing Access: Facilitate the curation of new solutions and offerings to improve access to senior living communities.
The Argentum Strategic Planning process was led by the Argentum Strategic Planning Task Force. Argentum’s James Balda, president and chief executive officer, and other staff leaders joined the effort. Argentum partnered with Thruue Inc., a strategy and culture consultancy. The team also connected with Argentum members, board members, other stakeholders, and staff at key points.
To learn more about the Argentum strategic plan, visit www.argentum.org/strategic-vision/. Download a PDF of the Argentum Strategic Vision for Senior Living here.