How Shared Value Helps Aged Care Providers Create a More Sustainable Aged Care Future That Reflects Community Needs.
Thursday 13 October 2022
11:45am – 12:15pm
For many years, Matt has advised not-for-profit organisations in the aged care, disability and social housing sectors on strategy, service design and community engagement. For example, he has led human-centred design projects for some of Australia’s largest housing associations to transform their resident experiences, as well as strategy and resident engagement projects for aged care providers to inform board-level decision-making.
Matt has also worked with public sector agencies to develop clear strategies and execute policy priorities. For example, he led a team that engaged more than 2,000 people with a disability and carers to inform the redesign of the NSW disability services system to enable choice and control. Matt also led a statewide consultation program on the social housing system in Victoria, engaging with social housing tenants, service providers, homelessness sector professionals and financial services organisations to discuss reform of the social housing system.
Prior to joining Ellis Jones, Matthew was the Director of Business Engagement at the Victorian Department of Jobs, Precincts and Regions, where he led a large team to engage with up to 2,000 small businesses in person each week during the COVID-19 pandemic.
Matt has also been CEO of a large social housing provider in Victoria, where he led to a transformation to develop a new customer experience and create a more customer-focused and effective organisation.
In the context of a market landscape subject to reform, increased consumer-driven funding and the emergence of new service types – various opportunities and challenges are facing aged care providers. So how should they respond and what can they do to ensure a long-term sustainability of services?
Aged care is seen as a vital social service by most Australians. 61% of taxpayers say they would be willing to pay more income tax to support aged care. They value what aged providers can offer, and they want the experience to be better. To meet demand and customer expectations, aged care providers need to start positioning their service to deliver on their business goals and purpose.
Customers don’t buy what you do, they buy why you do it. There is strong evidence that reports organisations who are clear on their purpose have increased employee satisfaction and customer loyalty. Purpose lifts organisations and helps leaders see the path to sustainable growth and can unlock the potential for social impact that delivers business returns – in other words, shared value.
Shared value is a philosophy, framework and strategy to create financial growth and sustainability, while also achieving social impact. And aged care providers – not-for-profit, private, publicly listed and government – provide a perfect social impact value proposition. Regardless of ownership or mission, aged care is about meeting the social, health and care needs of older Australians.
What older Australians need and expect will be different based on a range of social and environmental factors. So, it’s imperative that aged care providers get close to their communities and co-design their experience and services to stay competitive. This approach will lead to purpose, brand differentiation and a future where the aged care experience reflects community needs, delivers best practice, increases financial returns, and ultimately, achieves social impact.
Participants in this session will:
– Understand what is meant by social value and shared value creation in the aged care context
– Learn about the key trends in funding and consumers behaviours, including the key challenges and opportunities for aged care providers
– Learn from Ellis Jones’ work with various aged care providers and how we helped them embed and measure shared value across their organisation to strengthen their purpose, economic returns, and customer experiences
– Take home knowledge and practical tools to help position and communicate their services in a competitive environment, and achieve measurable financial and social impact improvements
Discover how providers can create a more sustainable aged care future that reflects community needs and increases their profit.