Predictive Index® Helps Build a
Benchmark Assisted Living
“The Predictive Index® is absolutely part of the Benchmark culture. It is part of our language. Every body knows what it is and it is a critical tool of how we manage our talented and help them grow.” Jill Haselmen, Senior Vice President Organizational Development
The history of Benchmark is that it was founded by a gentleman named Tom Grape, who is the CEO, Chairman of the Board and Founder of the company in 1997 and Tom’s vision was to create a world-class service company, not necessarily with any desire to be the largest, he was completely looking to be the best and he knows it is exclusively about the talent within our business and ultimately the industry.
The company is fundamentally grown through acquisition and we have not done any mergers. We are the acquire-ors of individual properties and small, medium and large acquisition portfolios. Our largest growth period was really 2005 when we did three acquisitions within ten months and added 2000 people to the organization so it has been quite a leadership challenge and a cultural challenge.
The Predictive Index® has given us a tremendous upside and kind of accelerated our success of assimilation in terms of our leadership, who we are looking for, who will be best to fit within our organization.
PI® Helps Identify Strong Leaders
Our cultural challenges primarily have been to identify precisely what leadership style; leadership profile if you will is most suited to creating a world-class service organization.
We use the PRO, which is the device by saying what actual job fit do we need for a specific role and we use the Predictive Index to role together all of the styles against performance management, financial performance and then cultural satisfaction of a workforce environment climate to identify the ideal Benchmark leader.
We know which leaders will be a perfect fit and will deliver total performance result, not just financial but cultural customer satisfaction and so we have very specific profile of who works out at Benchmark and consequently we have really mapped the use of the Predictive Index® to business results, to satisfaction results in my associates, investors and residents that are the seniors who live in our properties and we can year after year map cultural improvement
Leadership Development Increases Retention and Loyalty
At Benchmark we have a corporate learning development platform and it encompasses multiple learning and experiential programs and processes and opportunities called Leadership Institute. It is invitation only because the philosophy is that if we are going to invest in our people, we are going to invest in their development and their ongoing loyalty and engagement in the business and the organization.
Over the last four and a half years we have graduated sixty high level executives from our internal Leadership Institute and of the sixty we retained approximately 96% of them and the Predictive Index® has played a pivotal role in helping those leaders really understand their style and how it impacts other people.
Turnover in the senior housing industry is a very big deal. In fact some people would say that the industry statistics are anywhere from 85% turnover to 112%. It is very common in senior housing. Our turnover statistic Benchmark is 42% and I think we are in the top three companies within the industry nationally with the lowest turnover. However, that is really not a real predictor of business success for us. We are much more interested in retention and loyalty to the organization.
Within the industry of senior housing, the industry itself is incredibly competitive and will continue to be if you just simply look at the demographics for the aging baby boomers and so on. We believe that the Predictive Index® among other types of strategic business opportunities will play a pivotal role in helping us to source, to screen, to interview and to develop great people to fit the culture who will also stay because retention is critical for us and our competitive secret weapon
PI® Drives Improved Employee Satisfaction
At Benchmark we measure associate satisfaction and cultural improvement under a survey that we call the Candor Connection.
We measure four domains if you will: teamwork, respect, supervisory effectiveness and loyalty, and we have seen an increase or improvement year over year in all four of them. But a specific spike over the last year three years in supervisory effectiveness, which has also been correlated to reduced turnover and increase engagement of loyalty are retention scores and so the Predictive Index really helps us to hire right the people in the right positions and the right size of product if you will or demographic locations, that sort of thing.
The Candor Connection of 2006 came in recently. We are delighted to say once again it has increased particularly around supervisory effectiveness. In fact we scored at 4.1 country wide on supervisory effectiveness on a 5-point scale, which is truthfully pretty amazing considering in 2005 we did an exponential growth and amalgamation of three different cultures plus the corporate office culture and then the original core Benchmark properties, so we have managed to integrate leadership, supervisory effectiveness, culture change and the foundation under all of that is the fit between ones job, ones personality and their predictable behavior, which the Predictive Index® has really helped us to match our business results. So we are delighted with the instrument but more delighted with the results of the business.
“As hard as we have worked to develop a great culture and drive loyalty and engagement I cannot imagine having to do that without the use of the Predictive Index® and can only imagine that our loyalties scores would be significantly lower and our turnover scores would be significantly higher if we did not have the insight of the Predictive Index®.”
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