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October 03, 2023

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Senior Housing Succession Survey

Older couple sitting in their cozy living room

Senior Housing Succession Survey

Questions marked with an asterisk* are required.

*1. When do you plan to transition ownership and leadership of your business? This could mean selling the business to an outside buyer, transitioning ownership to a family member, or transitioning to current employees.* 1-3 years 4-7 years 7-10 years 10+ years

*2. Do you have a succession plan in place? A succession plan can include details like tax-efficient corporate structures, estate planning, employee retention strategies, value enhancement plans, and more.* Yes Yes, but it needs additional support No

*3. In your plans, who will take over the organization?* Sell to an outside buyer Transition to a family member Transition to employees A combination of the above I don't know yet

*4. What is your biggest challenge as a business owner?*

*5. How challenging are the following issues?

Hiring qualified staff*

Retaining staff*

Keeping pace with technology*

Managing costs*

Shortage of equipment or supplies*

*6. Are your employees aware of or asking about pathways to ownership?* Yes No

*7. What retention strategies do you have in place? Check all that apply.* Employee share ownership plan or profit sharing plans Salary increases Formalized bonus structure (related to strong performance) Retention bonus (an incentive to remain with the organization) Flexible work arrangements Professional development opportunities

*8. Do you have programs in place to develop your team members? This can include executive leadership training or a formal mentorship.* Yes No

*9. How effective are your current systems at providing the right information to support short- and long-term planning, decision-making, and strategy management for internal succession or sale to a third party?* Very effective Somewhat effective Somewhat ineffective Not effective at all

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We’ll compile your answers into a report that compares your succession progress to your peers in the industry. Please provide your contact information below so we can contact you when it’s available.

Don’t want to provide your information? Leave these fields blank to submit your answers anonymously. However, we won’t be able to provide you with a benchmarking report.

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Strategies and solutions that add value to your journey.

Working with organizations across the Canadian business landscape.

From our knowledge and experience come ideas and actions

How to mitigate risks when building major infrastructure in the energy and utilities sector

How to increase profit margins in your craft brewery

What do professionals need to know about a business interruption insurance claim

Build your future with MNP

Senior Housing Succession Survey

Access your free benchmarking report