Senior Housing News March 18, 2025
In 2025, turnover and retention are among senior living operators’ biggest challenges. Some operators are dealing with it by taking cues from big companies like Costco.
Costco and other companies like Sam’s Club and QuikTrip have taken the approach that giving employees better benefits, pay and an accessible career ladder leads to better business outcomes at the end of the day. Although labor is the largest senior living operating expense, it is not a good practice to skimp on employee pay and benefits, according to Michael Karicher, chief people officer for Dallas-based Sonida Senior Living (NYSE: SNDA).
“[We’re] trying to adopt a little bit of the Costco model, and finding if we have people that are doing really great things,...
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