Leading with Empathy During Financial Uncertainty

As financial executives in the senior living industry, we have the unique opportunity to serve entire generations of our elders by helping the communities that provide senior care thrive. To excel as a financial leader in this very human-centered industry, leading with empathy isn’t optional – it’s essential.

Senior care is heavily mission-driven work at its core. It’s important to remember that the numbers don’t oppose human-centered decision making – rather, this empathy is the driving force behind each decision. Each choice impacts care, staffing, community programming, and routine. Quality of life and care lead the way, naturally determining financial prioritization. 

Leading with empathy also lends you increased credibility and influence when stepping into a new role. If your fellow executives understand immediately that you’re acting in alignment with their existing values, they’re more likely to take you and your advice seriously right off the bat. 

Organizations often bring in interim CFOs during times of transition or strategic change. While these moments are full of opportunity, they can also bring uncertainty. An empathetic leader helps steady the organization by providing reassurance, clarity, and a sense of continuity while guiding necessary growth. 

When you tell the full story of the numbers, using empathy to place community members at the top of the priority list, even the most difficult choices become clear. Empathy bridges the gap between financial strategy and operational reality, helping non-financial leaders see the purpose behind each choice.

One tip for keeping empathy at the forefront is to stay connected to the individuals in the communities you serve. Being grounded in the day to day experiences of residents and staff ensures you remember the impact of each and every financial decision. 

Another important shift is to reframe the narrative of your position. You’re not reacting to financial uncertainty; you’re making thoughtful, value-based decisions that support long-term stability and further the organization’s mission of providing top tier care. 

Everyone in the organization, regardless of their role, is brought together by the same goal of improving the community and making it the best environment possible for residents and employees alike. When you lead with empathy and keep that mission top of mind, your decisions align with community goals, reinforcing stability even in uncertain times.