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  1. #2331
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by Sgt Pepper View Post
    One note of caution with the retirement sector from someone who works in the health service.
    As part of this years settlement of the DHBs Nurses MECA they agreed to recruit an additional 500 Registered Nurses into the DHBs. The retirement sector already struggles with recruitment and retention of Registered Nurses. The salary diiferential between the two is significant, the Rymans, OCA, Summersets will have no choice but to compete.Many young Registered Nurses, especially from overseas, have no desire to remain in the sector. Careers are on hold until they get a better paid position in the DHBs. Profits will erode. Aged care already is overly dependent on non resident workers on work visas, over 6000 staff.
    As shareholders we need to ensure that Boards can demonstrate a coherent strategy to address this issue, otherwise the days of increasing dividends being delivered to happy shareholders will be seriously at ris.k
    I spoke with Earl Gasparich after the Auckland shareholders association presentation in September about this issue. Yes its an issue retaining Nurses and paying them a competitive wage to stay with OCA. Mitigating factors. I know industry the representative body has been on to the Govt about the need for pay revision for the retirement sector for Nurses and I am not sure if they will get any interim relief this year but certainly in next years funding round providers will get parity allowance within their funding model to enable pay parity with nurses in DHB's on a roughly cost neutral basis to retirement village operators. You're painting a picture that this is an ongoing systemic issue with will affect profitability forever and a day going forward which I think is materially overstating this challange.
    Last edited by Beagle; 10-12-2018 at 02:52 PM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  2. #2332
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    Yes the above situation will change within a year, there's a lot of work going on behind the scenes as we speak to rectify this anomaly.

  3. #2333
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    I wonder if those actually pronouncing big increases in costs for oceania wage increases to registered nurses have actually worked out the costs.
    It is likely they only employ the minimum to meet DHB requirements.
    Most rest home "nurses" will be care workers rather than registered nurses and so I suspect the impact will be minimal and recovered through higher chargers in dependent care/dementia units

  4. #2334
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by fish View Post
    I wonder if those actually pronouncing big increases in costs for oceania wage increases to registered nurses have actually worked out the costs.
    It is likely they only employ the minimum to meet DHB requirements.
    Most rest home "nurses" will be care workers rather than registered nurses and so I suspect the impact will be minimal and recovered through higher chargers in dependent care/dementia units
    P.S. to my above comment. Earl did reassure me that they had some headroom within the scope of their existing DHB funding model to cope with this challenge. I agree that this is not as big as some people are making it out to be.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  5. #2335
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    Rest homes still need nurses as well as carers. The nurse pay its less to start with. Nurses typically only go to villages if they can't get a job in a hospital. Hospital jobs are seen as a career ladder job, villages are seen as a career ender.

  6. #2336
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by Lewylewylewy View Post
    Rest homes still need nurses as well as carers. The nurse pay its less to start with. Nurses typically only go to villages if they can't get a job in a hospital. Hospital jobs are seen as a career ladder job, villages are seen as a career ender.
    Many have gone on to be successful village managers, some making $100K+ (I know one that's followed that career path and she's an exceptional village manager)
    Last edited by Beagle; 10-12-2018 at 08:34 PM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  7. #2337
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    Quote Originally Posted by Beagle View Post
    Many have gone on to be successful village managers, some making $100K+ (I know one that's followed that career path and she's an exceptional village manager)
    There are always exceptions.

  8. #2338
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    Quote Originally Posted by dobby41 View Post
    There are always exceptions.
    More often than you would think. Its a care industry. Highly skilled nurses with a good brain for administration often make good village managers.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  9. #2339
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    Quote Originally Posted by Beagle View Post
    More often than you would think. Its a care industry. Highly skilled nurses with a good brain for administration often make good village managers.
    Yes and a good nurse manager is a far greater asset to the company than a business wizz manager because the latter have no clinical expertise and can't identify with the whole care side of things in the same way the former can.

  10. #2340
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    I would have thought the private sector aged care industry would be a very good career option. Who would want to work for a DHB, chock full of bureaucracy and over-emphasis on a certain groups special needs. Its no wonder wages in that sector have to go up - you'd have to pay people well to compensate for all the bullsh1t. In aged care it seems to me you are much closer to the person you are caring for, more influence in decision making and you get to see a whole process through.

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