Stephanie Harris is CEO & Principal at Arrow Senior Residing. Harris established Turnaround Options in 2005 whereas in school, which later grew to become Arrow Senior Residing 4 years later in 2009. Harris is a powerful advocate for gross sales strategies that attempt to extend the worth of communities for seniors.
In her Changemakers interview, Harris discusses how she has modified since first creating the corporate, how her urge for food for danger has enormously helped her develop over time, and what she does to make sure her workers proceed to work at a spot they love.
How have you ever modified as a pacesetter since beginning on this business?
Since beginning on this business, I’ve developed from a turnaround marketing consultant touring from coast to coast and dwelling onsite at communities to constructing a senior housing operations firm, which has included the event of over 30 new communities. This journey has reworked me into a pacesetter who not solely stabilizes distressed property but additionally drives innovation and development by means of new building.
Clearly, we at SHN consider you as a changemaker, however do you see your self that approach — are you at all times excited to drive change?
Completely, I see myself as a changemaker. Change is in my origin story. I based this firm in 2005 as Turnaround Options with the aim of reworking beforehand distressed property by means of hands-on problem-solving and relationship-based gross sales options. My enterprise card even defines the phrase ‘Turnaround’ as “changing into modified for the higher.” It’s ingrained in our tradition to continually enhance and evolve, in search of higher methods to function senior dwelling by means of greatest practices in gross sales, advertising, and know-how.
In what areas do you assume you’re a changemaker?
I’m a changemaker in constructing increased performing gross sales methods and implementing applied sciences to automate and complement workflows.
What I’m most happy with is the tradition we now have constructed. Most of our staff members come from outdoors of senior dwelling and should be taught the enterprise from our vantage level, versus bringing outdated options and habits. This contemporary perspective has helped us construct a steady enchancment mannequin and appeal to a devoted staff dedicated to revolutionizing how we interact with workers, residents, and households we serve.
With that in thoughts, are you able to discuss a change you’ve made on this space, and why you made that change?
In 2011, I had the chance to seek the advice of with a gaggle getting into senior dwelling that had expertise in movie show operations. They have been revolutionary in working a data-driven mannequin and making certain every staff member, from concessions to ticket gross sales, might learn information in real-time to be taught from and modify their conduct to drive outcomes. Their thesis was to function extra reasonably priced senior dwelling operations by testing completely different administration and worker engagement fashions.
This expertise brought on us to rethink how we might use information to drive effectivity in operations and the right way to optimize the function of every community-level administration place. Now we have continued this work inside our growth platform over the previous decade. In 2015, we applied know-how for fall detection and prediction, which has considerably improved resident security. Having virtually 10 years of historical past with this sturdy know-how has put us in a novel place to profit from the insights it supplies, integrating it into our complete care supply mannequin. Now we have additionally built-in all our programs into one platform to develop a greater 360-degree view of our residents and operations. This perception has helped us construct extra automation and effectivity.
What are some methods you assume senior dwelling wants to alter within the subsequent 5 years?
Our business commonplace gross sales course of is passive and need-driven, which perpetuates increased care and heavy turnover outcomes. We have to grow to be higher at lengthening the keep of residents. Our gross sales course of should grow to be extra affected person and proactive. Whereas we’re all experiencing a rise in new inquiries, conversion is lagging. Our post-COVID response has created a extra reactive mannequin that could be a turnoff to the extra discerning shopper.
Moreover, we have to grow to be extra collaborative in our enterprise mannequin to encourage larger engagement with workers and residents. Traditionally, senior housing has targeted closely on what can and might’t be performed, and we have to be extra versatile and inclusive in how we run the enterprise and handle the communities.
As you look throughout the remainder of the senior dwelling business, do you assume that it’s altering quick sufficient to maintain up with the occasions?
I don’t assume the business is altering quick sufficient. We will borrow and adapt many nice practices from outdoors our business to speed up our progress.
Are you able to discuss a time once you tried to execute a change and issues didn’t go in accordance with plan? How did you pivot, and what did you be taught as a pacesetter?
After we first applied medical applied sciences in a brand new growth, it was an abysmal failure. The know-how firm was constructing the airplane within the air and couldn’t get the system to perform as promised. We discovered a substantial quantity from this deployment that helped refine our choice and implementation course of. Since then, we now have constructed a Imaginative and prescient Group that drives our know-how choice course of and implementation.
Changemakers are typically risk-takers. Do you agree with that assertion? How do you describe your personal urge for food for danger?
I’m a risk-taker. I guess the home after I shaped this enterprise whereas in legislation college, a lot in order that I needed to transfer into my workplace. Over the previous 24 years on this business, my urge for food for danger has grow to be extra balanced by a strategic method to decision-making. I imagine in taking calculated dangers that drive innovation and development. I do discover myself extra targeted on mild evolution versus revolutionary change as our group grows and matures. I fear in some ways in which over time I could hinder future progress if my urge for food for danger adjustments.
What’s the single best driver of change in at present’s senior dwelling business?
Know-how is the only best driver of change, with the potential to revolutionize how we function, interact with residents and workers, and enhance total effectivity. The operators who greatest undertake it into their enterprise fashions would be the final best-in-class suppliers.
Are you able to discuss the way you see the necessity for Variety, Fairness, and Inclusion within the business, and what you’re doing to drive change on this regard?
Initially, we have been sluggish to prioritize DEI, and I used to be in all probability the slowest one. I took as a right that our tradition’s openness to people new to our business was sufficient to draw a various workforce. Over the previous a number of years, we now have been working with Ayana King from Most Communications to construct larger training and consciousness. This collaboration has opened our eyes to the necessity for much more deliberate efforts to construct various communities for folks to work and reside in. I’m very happy with our Variety and Inclusion speaker collection that was launched a few years in the past, the place our residents host consultants on DEI matters to discover constructing larger inclusion and belonging.
The approaching yr, 2024, is shaping as much as be a yr of development and evolution for a lot of senior dwelling operators. In what approach is your group/firm altering for the occasions?
We’re increasing {our relationships} with our present capital companions and figuring out new growth areas. We’re additionally persevering with to work inside our group on reimagining and bettering present workflows.
Use a film, guide, or TV present title to explain the yr forward for the senior dwelling business in 2024.
“For All Mankind.”
We have to develop our view to a cosmic perspective, not only a worldly one.
Select one artist, scientist, thinker, entrepreneur or different individual, dwelling or lifeless, to assist change the senior dwelling business for the higher. In only some phrases, who’re you selecting and why?
Elon Musk. He envisions options to issues a number of steps forward, remodeling complete industries.
