FOR IMMEDIATE RELEASE
September 22, 2020
CONTACT: Tara Perkins, AVP | 203-418-9049 | [email protected]
Financing the Perception of Safety
Senior Living Survey Finds Residents Feel Safe, Glad to be Part of a Community during Pandemic
FAIRFIELD, CT– HJ Sims (Sims), a privately held investment bank and wealth management firm founded in 1935, participated in the Senior Living COVID-19 Sentiment Report, which surveyed 4,000+ current and prospective senior living community residents, assessing their thoughts/ feelings about the COVID-19 pandemic. Lynn Daly, Executive Vice President, Sims’ Chicago office, authored content included in the 104-page report, COVID-19 Sentiment Report: A Survey of Independent Living Desirability & Safety.
The Survey, published by Plante Moran Living Forward and Retirement DYNAMICS®, was distributed to 23,000+ residents, prospective residents and staff at senior independent living communities nation-wide.
Among the results, it was discovered that of more than 4,000 current and prospective senior living community residents, 77% of current senior living community residents were somewhat or strongly supportive of living in a community during the Pandemic, with 87% of prospective community residents feeling somewhat or strongly glad to be living at home during the Pandemic. Click here to download the report.
While surveyed prospects worried about social isolation and daily tasks when living in their own homes, Survey results showed a slight decrease in their likelihood to move into an independent living community due to the Pandemic. The survey revealed:
- 92% of staff felt their community responded well to Pandemic.
- 93% of residents felt their community took all precautions.
- 85% of staff agreed residents “are safer in their community than in their previous homes.”
- 77% of residents said they were “glad to be living in a community during the Pandemic,” with 86% affirming they were glad they moved.
- Prospective residents (61%) and residents (68%) felt socially isolated during shelter-in-place.
- 74% of prospective residents reported their time frame for a move has been unchanged.
While independent living communities received high marks from seniors on cleanliness, sanitation and communications, communities earned low grades on recreation activities, dining and technology offered during shelter-in-place.
The Survey received a 21.1% overall response, and was sent to independent senior living communities throughout the U.S., generating 7,000+ comments. The results indicate that prospective senior living residents recognize that living in a community would provide them peace of mind, safety and security. However, they are happy to be home during the Pandemic. For senior living providers and operators, making small operational changes can improve prospective residents’ perceptions, with the hope that they will make the commitment and enjoy what moving to a campus would provide.
“HJ Sims is deeply passionate about the providers we serve. We appreciate that COVID-19 has stretched our provider clients in unimaginable ways, including resident and staff safety, retention/recruitment of staff, uncertainty and negative press. We welcome helping those in the industry become more knowledgeable about COVID-19 and are pleased to provide relevant data on what providers are doing right, and where they can improve to align themselves with the perceived needs of consumers and staff. We have tremendous faith in the non-profit senior living model and embrace the opportunity to support its sustainability and resilience,” said Daly.
Ms. Daly has 30+ years of experience working exclusively with nonprofit organizations on their financing needs. Read more here.
Lynn Daly: [email protected] | 312-505-5688.
ABOUT HJ SIMS: Founded in 1935, HJ Sims is a privately held investment bank and wealth management firm. Headquartered in Fairfield, CT, HJ Sims has nationwide investment banking, private client wealth management and trading locations. Member FINRA, SIPC. Facebook, LinkedIn, Twitter, Instagram.