National Senior Living Company Has 50 Percent Lower Turnover Rate: Uses Predictive Index to Identify Strong Employees
As the Baby Boomer generation ages, senior living providers will experience a higher demand, as well as increased competition, across the industry. These trends will be further impacted by a high employee turnover rate. For companies like Benchmark Assisted Living, headquartered in Wellesley, Massachusetts, the foundation of future success can be summed up this way: Retain employees that best embody the organization’s culture and values. Using the Predictive Index behavioral assessment system, Benchmark is prepared to offer world class service through strong leaders. Read on to see how you can learn from Benchmark’s employee success.
Founded in 1997 by Tom Grape, Benchmark was created to fulfill Grape’s vision of a world-class organization with a culture of service, accountability and values. Grown largely through acquisitions, the company has grown to include 43 communities and over 3,500 employees, making it one of the largest privately held senior living providers in the nation.
In an industry that struggles with an 89 percent turnover rate, Benchmark has made it a priority to use the Predictive Index to keep turnover at half that rate. The behavioral assessment tool is used to reveal the natural behaviors and motivations of people in the workplace. It offers a strategic tool for helping Benchmark source, screen, interview and develop great employees that fit into their culture and that stay in the organization over time.
Among the employees that Benchmark considers critical for their success is the Executive Director. Each Executive Director manages one of its facilities, overseeing all operations, from filling the beds and staff development to community relations.
Benchmark approaches the placement of Executive Directors with a high level of care. In order to identify the ideal candidate profile for an Executive Director position, Benchmark uses the results of the top six current Executive Directors and merges them into a list of desired job requirements. The PI profile includes a group of key behaviors desirable in an Executive Director, including achievement oriented, compassionate, strong sense of urgency, ability to build teams, work collaboratively and execute goals through others.
The profile helps Benchmark identify ideal candidates for the Executive Director position. However, the firm continues to refine management styles and the impact of choices on other employees by integrating the Predictive Index with emotional intelligence and a 360° survey. This helps the Executive Director to better understand their communication styles and adjust it for maximum effectiveness. Benchmark also invests in Executive Directors through the Leadership Institute and Program for Excellence as part of the Benchmark University.
The effects of these practices are dramatic. Of the Executive Directors that have completed the Leadership Institute, Benchmark has retained 96 percent of these employees.
If you want to see high retention rates in your organization, as well as identify and hire the candidates that match well with your values and company culture, take the data-driven approach and call us at PI Consulting Group. We can help you add a sophistication of care to your hiring process, and then come alongside you to continue the development of your employees for long-term success.