Relocation for the Ages – The impact on employers of three generations in the workforce and an aging demographic will create new challenges and opportunities for the mobility industry.

By Maureen Campbell, CRP, SGMS, and Debbie Robinson, CRP, SRES

Tom, Fred, and Elizabeth Manchester are siblings who are active, engaged baby boomers. They have carved out their careers and are feeling fulfilled. Their children are beginning to leave the nest, and like so many of their contemporaries, the Manchesters are looking forward, with mixed emotions, to the freedom that will afford them. They’ve gracefully mastered the art of juggling work, home, and children, and now they are looking forward to traveling, relaxing, and taking up that hobby they’ve dreamed about.

The Manchesters grew up in the 1950s and ’60s in a middle-class American suburb. Their father worked for AT&T, and their mother was a homemaker. They moved a few times for their dad’s job, but always within the U.S. and with modest relocation benefits.

Fast-forward to 2015. Tom and his family have experienced several relocations, including an overseas assignment in Shanghai. His family received cultural training and experienced new customs, new languages, and a world that was far removed from friends and family. Fred moved his family seven times during his career, and each time, his spouse was faced with a new job search. As a dual-career family with three children, priorities were finding the right neighborhood, the right school/day care, and a job for Mom. Only Elizabeth, who stayed in California after attending college, remained in the same state throughout her career. Even so, it was not the state in which she grew up.

Tom now lives in New York, and he and his wife are relocating to North Carolina in the fall. Fred and his family settled permanently in New Jersey, where his children will soon be graduating from high school. Elizabeth remains in California.

This year, the family has a new relocation challenge. It is not job-related, nor is one of the siblings relocating. It is the family’s aging parents … and no one has any idea where to begin or where to find the appropriate resources.

Mom and Dad have been living in Florida since Dad retired at age 65 with a nice pension, savings, good health insurance, and a desire to live in a warm climate. Now, 20 years later, they are in their 80s, and Mom has chronic health issues. Dad has been her caretaker and has managed quite nicely. Suddenly, overnight, Dad became ill and is now hospitalized. He can no longer drive. In one quick moment, life is turned upside down—for everyone.

The siblings put together a plan: Tom will fly down first and spend a long weekend assessing their parents’ needs. Fred will take vacation time to drive down from New Jersey and visit assisted-living communities.

Everyone will look for communities in areas surrounding their homes. Elizabeth will fly out from California to make the final trip and investigate resources to dispose of excess furniture, ready the home for the market, and interview real estate agents. They will work together to give their parents the attention they need. They will do what they can to bring Mom and Dad close to one of their adult children.

This scenario is real. It is happening now, and we see it every day with multiple families in multiple locations all over the world. Sit at a table with 10 boomers, and it’s almost guaranteed that, if prompted, four of them can tell a personal story about caring for aging parents. And it is no less true for Gen-Xers.

The Challenges Ahead

Jody Gastfriend, vice president of senior care at Care. com, an organization that offers a suite of comprehensive care benefits for employers, says, “There has been a huge increase in the team’s care encounters over the past year. In fact, the inquiries have more than doubled.” Gastfriend attributes this increase to the fact that employers are coming to the realization that elder care is a rising issue.

“Employers are scheduling on-site seminars and investing in engaging and educating their workforce about this issue,” Gastfriend says. “Generally, it takes an impactful event to gain employer awareness—one that garners the attention of upper management.” For example, one of her clients, she says, was attempting to recruit for a senior management position. The top candidate would not accept unless his elderly mother, who lived in a retirement community five miles from him, was relocated along with the family.

“This is the tip of the iceberg,” says Gastfriend. “The workforce is aging, the country is aging, the world is aging. No one is prepared for the costs that will be incurred. Providing necessary resources to current and relocating employees is critical.”

The Aging Parent Crisis and Careers

If the issue of aging parents and their impact on careers is so pervasive, why do employers continue to say they have not heard there is a need?

While most people plan for child care, few lay the groundwork for aging parents and the care they will require. Being a primary caregiver to any loved one, young or old, irrefutably affects an employee’s career.

According to Gastfriend, employees don’t want to raise this issue. “When you have a child, you prepare for it. You plan for day care. You save for college.

You envision their futures. You share their accomplishments with your co-workers and employers. You would never not plan your children’s future, but people don’t want to think about their parents aging. Then they are shocked when, suddenly, their lives are turned upside down by it.”

Employers who are beginning to offer resources are ahead of the curve. They’re looking at their competition and thinking about how they can differentiate themselves. Asked why this issue is not more visible to employers, Gastfriend says, “Employees who are living with this have a fear of being discriminated against. It’s such a ubiquitous issue. Over 60 percent of the workforce is in this position. They are ‘sandwiched,’ but they are suffering in silence. They like their jobs and want to keep them. They need more flexibility but are reluctant to speak up.”

Gastfriend also believes this is a generational issue and that the silence will end when the torch is passed to the millennials. In addition, because members of the C Suite are now older, it seems likely that executives and managers will be encountering elder care issues themselves. As this happens, attention to this issue may grow. Elder care will be to the 21st century what child care was to the last few decades.

Yet, as we have polled fellow Worldwide ERC® members to see whether this issue needs attention in our mobility industry, the most common answer is, “We have not seen the need to address this issue” or “It doesn’t come up.”

Data indicates that working caregivers are turning down advancement opportunities and relocations, but they are not sharing their reasons. Attempting to stay under the radar, fearing that their caregiving issues will disenfranchise them or put them in a compromising position, they remain silent. Elder care concerns are not predictable. A healthy aging parent can take a fall one day and literally set off an environment of chaos. Some employees don’t even recognize themselves as having the role of caregiver. Adult children who have moved for their careers will be forced to enlist resources from a long distance, travel frequently when emergencies arise, and suffer the distractions of sorting through the myriad of complicated options available—none of which is easy and none of which they planned for. They may be managing everything long-distance, but the stress and distractions are real and, ultimately, will have an impact on work performance. While boomers have remained stoic and silent about their elder care issues, this is expected to change as future generations face these issues.

The Hard, Cold Facts

There will be 56 million senior Americans (65 and older) by 2020. Many boomers and Gen Xers will spend more time caring for their aging parents than they did raising their children. America leads the world in the number of centenarians. The number of adult children caring for one or both parents has tri- pled in the past 15 years. Economic hard times have pushed the average retirement age from 57 in the 1990s to 61 and rising. Boomers are working longer, and three generations are now in the workforce.

Because baby boomers grew up in large families, their aging parents have 50 percent more informal caregivers available than do the parents of Gen Xers or millennials. Forty-two percent of Gen Xers are now caring simultaneously for children and an aging parent, a higher proportion than boomers at 33 percent. In 14 years, the last of the boomers will turn 65, and by 2035 the first of the boomers will turn 85. Families are scattered all over the world, most because of relocations for career advancement. Divorce, delayed parenthood, blended families, dual-career couples, and other underlying forces have impacted the availability of informal caregivers. Employers are losing upward of $17 billion a year due to absenteeism.

Paired with increasing life expectancies, the demand for formal and informal caregivers will grow exponentially. There will be fewer siblings to share the burden and fewer formal caregivers, and the geographic separations will have a greater impact.

Many will be forced to relocate parents closer to adult children. Some will bring their parents into their homes. Others will move their parents to a retirement community nearby. Many caregivers will find themselves searching for jobs that are closer to their aging parents. All of these situations will require a specialized set of resources.

All of this will impact retention, recruitment, relocation, and employees’ career paths. We are currently at the tipping point where the challenges of caring for parents will affect the workforce more than caring for their children did.

What Resources Could or Should Employers Make Available?

1. Be proactive. Don’t wait for employees to raise the issue. The issue is there. A visible program will enhance retention, recruiting, and relocation.
2. Provide a list of resources—particularly for employees being relocated or relocating a parent.
3. Offer flex time. Create a safe environment for employees to talk freely. Offer support groups.
4. Offer seminars and gauge employee interest. “MIT did a whole series of on-site seminars,” says Gastfriend. “The response and feedback from employees was so overwhelmingly positive that they now have a care adviser, who is a master’s-level social worker, on-site for their employees.”
5. Engage senior-care professionals to arrange meetings with employees and families. For siblings who are dispersed throughout the country, a virtual family meeting that includes all of the adult children can facilitate resolutions to serious issues.
6. Offer guidance from industry experts on continuing care, independent, and assisted living communities. These are great options for parents with means.

Engage a Senior Relocation Service Provider

According to Kelly Sizemore, chief strategy officer at Zillner, an advertising agency that focuses on the senior consumer, most seniors say they are not ready to move yet. “It doesn’t matter that they are in their 80s and no longer managing the upkeep of their homes or are physically declining,” says Sizemore. “The relocation process is just too overwhelming and becomes paralyzing to both the senior and adult children. Five percent of this decision is logical; 95 percent is emotional. Typically, when seniors look at moving, they are handed a bunch of brochures and sent off to do the hard work. They need a program that will hold their hand, guide them, provide professional oversight, and make the phone calls.”

This is exactly what relocation professionals do every day for their corporate transferees. “This is stressful, emotional, and they see it as their ‘last’ move,” Sizemore adds. “They can’t do it on their own!”

We have witnessed firsthand the impact of a sudden crisis on families separated by geographic location. The family is almost always caught by surprise and unprepared. Children will visit Mom and Dad for the holidays and suddenly realize they are no longer functioning well. Discussions ensue: Should they move to a retirement community? Which type would be best? How do we know? How do we coordinate everything from so far away? Should they come live with one of us? Which one? Should we hire a caregiver?

Wake-up Call

In America, there is a stigma about aging. Nobody wants to talk about it, and nobody ever thought we’d be dealing with this situation. People retired at 65 and died in their 70s. With advances in health care, people are living into their 90s and 100s, but are dealing for years with chronic health issues.

Wouldn’t it be great if corporate America proactively reached out to individual employees who are doing what’s right for their parents? Shouldn’t we think more deeply about our need to look at elder care resources with the same attention we gave to day care and maternity/paternity leave? When we are relocating employees, shouldn’t we consider that this issue might be lurking behind the scenes and clouding the decision-making process? Shouldn’t we evaluate our employee assistance programs (EAPs) and our relocation benefits to look at each individual’s personal challenges?

Wouldn’t it be great if we started to change the way we viewed this subject, knowing full well that someday it’s going to happen to the CEO, the vice president, and the everyday worker? Not everyone has children, but most have parents. This issue will take its toll on each and every one of us at some point in our lives.

Maureen Campbell, CRP, SGMS, is senior vice president, director of operations, and Debbie Robinson, CRP, SRES, is executive vice president for Premier Transitions Senior Relocation Services. They can be reached at +1 901 257 2162.

www.WorldwideERC.org

By Charlie Bell – President, Premier Transitions

Is there an arms race between senior living communities?

As a provider of senior relocation services to communities throughout the US, I tour communities almost daily.  This by no means makes me an expert on senior living communities, but I think I see a trend.  That is, that new communities and more established communities as well are upping their game as it relates to new offerings, more options in dining experiences and significant upgrades in housing options and amenities.  This is very reminiscent of the athletic domain in the amateur and professional ranks where stadiums grow larger, entertainment options proliferate and jumbotrons become gargantutrons.  All great for the sport enthusiast or the senior living resident, but more and more challenging and expensive for both the sports franchises and the senior housing players.

What is driving this “arms” race?  I believe it is two key factors: 1. General competition: With the billions targeted for development of more senior living, it is not surprising that amenities and options would proliferate.  And while I won’t discuss in this article but in a later offering, I could make an argument that development may be racing towards a wall.

When developers/owner operators evaluate their target PMA, they determine how their proposed property can compete against the existing communities and what amenities they can and should offer.  Invariably, that means more and more options and amenities. 2. The soon to arrive boomers:  I would maintain that the baby boomers will want and expect more amenities, better amenities and an overall better living experience.  And many can and will be willing to pay for those additional amenities and finer finishes in their communities.

Summed up in one word: Competition.

Is this a good trend?  It probably depends on where you are sitting. But regardless, from my limited vantage point I see the “arms” race almost daily and I am impressed with the offerings. It will be interesting to see how new and existing communities embrace this trend.

I welcome your thoughts and perspectives.

Charlie Bell is the President of Premier Transitions.  Active in the relocation industry for over 30 years, Charlie brings a wealth of insight and experience to Premier’s clients and the Premier Team that supports their residents.  He can be reached 901-367-3027 or [email protected]

Premier Transitions is committed to staying current with industry news to better serve our communities and seniors.  We invite you to read an important announcement published by Leading Age, a distinct voice for trends and events that impact the aging population.  They champion innovative practices that transform how we serve our aging population, cutting-edge initiatives to develop services that meet older adults’ needs and preferences, and advocacy to advance the interest of the aging consumer.  At their recent conference in Boston, they unveiled the results of a recent initiative to examine and rename continuing care retirement communities (CCRC’s).  See article below:

NameStorm Task Force Unveils “Life Plan Community” to Replace CCRC by Geralyn Magan Published On: Oct 30, 2015 The LeadingAge NameStorm Task Force unveiled “Life Plan Community” as the new name for the continuing care retirement community (CCRC) category during the Opening Session of the 2015 Annual Meeting and EXPO in Boston on Nov. 1. “It became clear that the name CCRC no longer did an adequate job of creating the best perception among tomorrow’s older adults,” said LeadingAge President and CEO Larry Minnix. “At the core of the decision to move to a community is having the right plan for what the next stage of life has to offer. We feel the ‘Life Plan Community’ name encompasses that very well.” The announcement comes after an extensive, 2-year process called “NameStorm,” which was led by LeadingAge and Mather LifeWays, a LeadingAge member in Evanston, IL, in partnership with Brooks Adams Research and 4 marketing firms: GlynnDevins, Love & Company, SB&A Integrated Marketing, and Varsity. “We are pleased that the new name resonates with the current and next generation of older adults in a meaningful way, by fitting their lifestyles and attitudes,” said Mary Leary, president and CEO of Mather LifeWays. “We are looking forward to adopting the term in our communities.” Consumers Want a New Name The NameStorm process involved 3 distinct research initiatives designed to help determine how the CCRC name is perceived in the marketplace and how a new name might improve those perceptions. The NameStorm Task Force solicited extensive feedback from corporate and industry leaders, CCRC residents and prospects, and the general population through brainstorming sessions, surveys, and focus groups. The research showed that 84% of future consumers—adults age 65 and younger—preferred a name other than CCRC, according to Jim Glynn, principal at GlynnDevins. “The CCRC name is not doing a very good job of defining what these communities are all about,” says Glynn. “If you are doing something innovative and you want to be noticed, you want to make sure that people understand what you do. If you can’t make that clear, people aren’t going to find you.” The research made a big impression on Liz Bush, senior vice president and director of senior marketing and sales at LCS. LCS is a LeadingAge Gold Partner that provides marketing and sales management services for 127 senior living communities nationwide. “What I learned from the research was that ‘continuing care’ carried a negative connotation,” says Bush. “When your consumer speaks, you have to pay attention.” Broadening the Definition The second word in the CCRC acronym—care—posed the greatest barrier to consumer acceptance, according to Glynn. “Care is a very important part of the product that we offer in these Life Plan Communities, but it is only one of the aspects and it’s not the initial aspect that people are looking at,” he says. “Consumers understand that someday they might need assistance, but in the meantime they want to enjoy life as much as they can.” Maura Richards, senior director of marketing strategies at Asbury Communities, a LeadingAge member in Germantown, MD, has seen firsthand the confusion that the term “care” has created among the prospective residents she meets. “When you talk about care in general, there is a huge confusion that CCRCs are more nursing-home oriented or that they are assisted living,” says Richards, who manages marketing strategies for 6 communities in Maryland, Pennsylvania, and Oklahoma. Typically, consumers looking at CCRCs conclude that they’re not ready for the care that the name implies, says Glynn. “When you define a senior living community as a CCRC, you are defining it very tightly in a medical model,” he says. “I believe that those who adopt the new name will have a better chance at increasing market share over time, and will get more people willing to call to find out more.” Appealing to Planners Because typical CCRC consumers are planners by nature, it made perfect sense to incorporate the word “plan” into the new name, says Richards. She believes the new name “fits the people we want to tap.” Harry Hobson, president and CEO of Plymouth Harbor, a single-site community and LeadingAge member in Sarasota, FL, hopes the new name will actually encourage more adults to do life planning at a younger age. “When you talk about a life plan, you start to disassociate age from planning,” he says. “You could almost see people saying at a younger age that there are a number things we want to be sure and do over the next couple of years,” continues Hobson. “Let’s sit down with our financial planner. Let’s make sure our will is up-to-date. And let’s go visit one of those Life Plan Communities so we can begin thinking about the future. It’s all part of life planning, not about being a certain age.” Ready for the Changing Consumer For Bush, the new Life Plan Community name is just one more step in an ongoing process to get ready for the aging of the baby boom generation. Successful communities have been working hard over the past 10 years to update their communities and their programming to appeal to these new consumers, says Bush. Now, she says, “the name is catching up to reflect that.” “I’m used to the name ‘CCRC,’” admits Bush. “I’m comfortable with it. However, my perspective isn’t what is important here. What is important is our market and our consumer. We need to speak in a language that resonates with our consumer.” Getting on Board Glynn is hopeful that LeadingAge members will take a leadership role in embracing the Life Plan Community name because it “defines more of what we are.” Richards, Hobson, and Bush are eager to do just that. For example, Richards anticipates that Asbury will begin using the new name in 2016. The Life Plan Community name will dovetail nicely with Asbury’s “Anticipate More” tagline, she says. “Our message will be ‘You can anticipate more at a Life Plan Community and these are the reasons why,’” says Richards. Hobson says the Annual Meeting announcement “gives us the blessing to formally go out and move forward with this name change, which I’m excited about.” Bush encourages her LeadingAge colleagues to do the same. “We can bemoan the fact that ‘continuing care retirement community’ is not popular with today’s market,” she says. “Or we can be part of a change that could really make a difference in what we do. I say, ‘Be bold.’ Let’s be the change that we want to see.” Next Steps The next phase of NameStorm will include 3 initiatives: Encouraging widespread use of the new name among current CCRC operators. Offering tools and resources for operators interested in beginning a new conversation around the Life Plan Community name. Exploring how to change current usage of the CCRC name in state regulations, financial markets, rating agencies, and by institutional investors. For more information, visit LifePlanCommunity.org. For more information about Premier Transitions, you can reach us at 901-257-2162 or [email protected]

WAITING UNTIL AFTER THE HOLIDAYS  ISN’T A SMART DECISION  

Every year at this time, many homeowners decide to wait until after the holidays to put their home on the market for the first time. Others who already have their home on the market decide to take it off the market until after the holidays. Here are six great reasons not to wait:

1. Relocation buyers are out there. Companies are not concerned with holiday time and if the buyers have kids, they want them to get into school after the holidays.

2. Purchasers that are looking for a home during the holidays are serious buyers and are ready to buy.

3. You can restrict the showings on your home to the times you want it shown. You will remain in control.

4. Homes show better when decorated for the holidays.

5. There is less competition for you as a seller right now. Let’s take a look at listing inventory as compared to the same time last year:

6. The supply of listings increases substantially after the holidays. Also, in many parts of the country, new construction will make a comeback in 2016. This will lessen the demand for your house.

Bottom Line

Waiting until after the holidays to sell your home probably doesn’t make sense.

Resource Courtesy of The KCM Crew – November 5, 2015

Premier Transitions is a national company with over 90 years of relocation and real estate experience.  We you are ready to move, we are ready to help.  Our professional guidance will enable you to navigate the complex real estate process with ease.  While we arrange your move services, you can focus on your future.  

To learn more, Contact Us at 901-257-2162.