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Latest industry developments Things to watch

Have your village insurance premiums gone up? Fill out this survey and let us know! ​

Here’s an initiative we invite you to take part in, based on anecdotal evidence that retirement village insurance premiums are on the rise.

The Property Council Retirement Living Council (PC RLC) is seeking to collect data on reports of premiums increasing from 50-120%, driven by fires, floods, storm damage and the impact of COVID.

Insurance can be one of the larger line items in a village budget, and increases in premiums can have an impact on a village’s bottom line.

To address the problem, the PC RLC needs to understand the lay of the land.

That way they will be able to determine whether actions like recommending certain insurance providers or pursuing bespoke insurance arrangements are worthwhile.

To participate in the survey, click here.

The PC RLC is also encouraging village operators who’ve experienced serious hikes, to email direct here.

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Latest industry developments

Property Council Award Finalists announced

The DCM Institute team would also like to acknowledge the wonderful contribution of all those who dedicate themselves to a career in this sector.

The Property Council of Australia’s Retirement Living Council has released the detail of the finalists for the National Retirement Living Awards this month.

I was honoured to be nominated as a judge in this process and was humbled by the dedication, passion and initiative shown by the finalists.

And we’d like to extend a special mention to the DCM Institute program participants and their organisations who have been nominated as finalists:

  • Jodie Shelley, Broadwater Court (Living Choice Australia)
  • Sarah Robinson, Bankstown, Kankama, Yagoona, Mirrambeena (Uniting)
  • Kelvin Lloyd, Veronica Gardens (Aveo)
  • Glynis McEwan, Glengarry Village (Masonic Care WA)
  • RAAFA Meadow Springs Hall Refurbishment Project (RAAFA Western Australia)
  • Bethanie Esprit Retirement Village Cottages (Bethanie Group)
  • Lendlease Remember When (Lendlease Retirement Living)

This is a great acknowledgment of dedication to communities, sector and career and we look forward to walking beside you and sharing your progress in this wonderful sector.

Congratulations to all finalists.

You can find a full list here.

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Latest industry developments

Village professionals finally have a framework upon which to build future careers…

Last week the Retirement Living Council unveiled Stage 1 of its industry framework to support the careers of Village professionals and the sector.

The industry recognises that Village professionals play a vital role in the professional operation of communities and are the ones tasked with the key activities that deliver against resident expectations. 

Called the Retirement Living Capability Framework, it seeks to set the benchmark for the skills and capabilities needed by we professionals within the sector.

Check the image above – it gives you a clear idea of the areas you are the key executive. 

Stage 1 identifies the skills and capabilities required by a Village professionals, further work is being completed on Stage 2 which will design how this framework will operate, with Stage 3 focusing on the implementation expected to commence in mid to late 2020 (you will not be seeing the evidence of this work for a few more months).

This new framework is a welcome addition for the sector as it provides clarity and consistency for the sector and residents on the skills and capabilities they should expect from retirement living professionals. 

At the DCM Institute we were grateful to have the opportunity to contribute to the Stage 1 process and are excited that this new framework provides a basis for Village professionals to commence building your ongoing career paths.

If you would like to read more click here.

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What the research tells us

Residents desire dignity, respect and transparency from the retirement village industry — do you have policy that reflects this?

Over the past 18 months dignity, respect, fairness and transparency have been highlighted as key behaviours residents and regulators are seeking from the industry.

In December 2018 the Retirement Living Council (RLC) and Leading Age Services Australia (LASA)launched the Voluntary Industry Code of Conduct.

Section A1.2 of The Code of Conduct details:-

‘In all our dealings with our current, potential and future residents, we will act with integrity, and in a professional, reasonable, fair, transparent and non-discriminatory manner.’

In NSW as at 1 July this year the new Rules of Conduct for operators specifically refers to, ‘a higher standard of customer service to ensure that residents and prospective residents are treated with respect, dignity and fairness and improving awareness of elder abuse’.

To be ready to meet the Code of Conduct criteria or NSW legislative requirements, have you thought about developing a set of Village Values that might reflect the standards expected of your team and the wider Village Community? Or at the very least a Policy that outlines the expectations in relation to these matters for your team and contractors.

If you haven’t signed up to the Code of Conduct, you can do it here.

The Village Manager Professional Development Program Portal will host a number of example policies to assist meeting the Code of Conduct compliance. 

Jodie