The DCM Institute survey of 186 retirement village and community managers across Australia asked how long Village Managers intend to stay in the role and why they intend to leave.
The survey found that 78% of Village Managers were generally satisfied with the role, however only 38% with their happy with their salary.
The following responses should concern village operators:
- 18% currently seeking roles outside of the retirement living sector;
- 24% indicating they will not be in the role in 12 months’ time; and
- 42% indicating they will not be in the role in three years’ time.
“When you consider how Managers feel about how much they are earning each year, we can’t be surprised to read that two out of every five managers won’t be in the role in 3 years’ time,” said James Wiltshire, Executive Director of the DCM Institute.
The DCM Institute has been talking about the results of this survey to ensure operators and residents alike are aware of the emerging challenges the sector faces should circumstances not change.
“There needs to be a conversation between operators and residents to move the needle,” James said. “At the same time, operators need to consider other ways they can invest in their people to retain them.”
As reported previously in The WEEKLY SOURCE, research conducted by the American Society for Training and Development (ASTD) has shown that that investing in professional development programs leads to better leadership capabilities, enhanced business performance, increased employee satisfaction, and higher retention rates (ASTD, 2019).
The DCM Institute currently has more than 500 Village Managers enrolled in their professional development program.
“These Managers represent more than 120 operators who understand the importance of the continuing to develop the skills and abilities of their people given the important role they play in creating positive resident experiences.”
