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ARTICLE
AI in senior living: How organizations can use AI to scale smarter
AI is changing how businesses and organizations operate across sectors — and healthcare is no different. But while senior living leaders are curious about AI’s potential, many are unsure of how to convert that promise into meaningful results in areas like medication management, EHR analytics, personalized care and an all-around better experience for residents. However, the biggest roadblock here is often not technology, but mindset. Keep reading to learn more about how to solve that, plus more effectively implement AI within your senior living organization. What’s stopping senior living organizations from embracing AI? Faced with challenges like rising costs and Medicaid cuts that are already taking effect, many senior living organizations could benefit from finding efficiencies through AI. But this has proven easier said than done, in part because embracing AI demands a mindset shift. AI is a change management problem While integrating AI into your senior living organization does require implementing new tools and upskilling your team, it’s also largely an exercise in change management. Your team is used to operating one way, which can make building and sustaining the momentum you need to rebuild your systems or processes to take advantage of AI or automation tools feel a little bit like pushing a boulder up a hill. According to a survey of Wipfli clients, 91% of businesses or organizations report that non-technical obstacles are the biggest blockers to better leveraging new technologies like AI. Meanwhile, only 19% of executives actually feel comfortable leading an AI-transformation effort. In other words, because AI is still such a new and rapidly developing technology, organizations and leaders don’t feel comfortable with it. And that discomfort can make it harder to create results. Haphazard AI use can actually slow adoption and create chaos Is your senior living organization currently using AI? If your first instinct is to answer no, there’s a very good chance you’re wrong, because some of your individual team members are almost certainly using AI tools, regardless of whether they have buy-in from leadership. However, this risks creating a wild west scenario, where AI gets implemented piecemeal or haphazardly and without any overarching AI strategy. In this situation, you won’t have any governance standards, policies or processes to help ensure consistency, and can even risk HIPAA violations by exposing PHI to AI tools that don’t meet compliance requirements. Plus, such haphazard efforts will often flounder, blunting momentum for a more organized AI implementation plan. How should senior living organizations more effectively leverage AI? For senior living leaders looking to develop an effective, organization-wide approach to AI, the process matters. Specifically, you want to determine where you want to go, how you’re going to get there and what tools you’ll need to succeed. 1. Establish direction by identifying specific problems you want to solve A good AI strategy doesn’t mean buying your team a ChatGPT Pro subscription. Instead, identify specific problems within your organization where AI could make a difference. For example, if your organization is struggling to find skilled healthcare workers to fill key roles, consider whether AI could allow you to deploy your existing team more effectively by automating certain lower-level tasks so your staff can focus on more patient-centric work. Or can AI analyze data from your EHR to identify patient health trends you can use to improve care? Here, it can be good to lean on an advisory firm to help assess your current systems and processes and find gaps that AI could fill. You can also do this entirely in-house, so long as you keep the focus on looking for problems to solve. 2. Design your AI implementation strategy Once you’ve found problems that AI could help solve, you need to build a framework for implementation. This means designing an organization-wide AI strategy to help put new solutions into place. This includes laying out specific steps in the implementation process, identifying leaders or change champions to actually spearhead the rollout and establishing KPIs. It’s also essential to evaluate your existing data sources and prepare them for use by AI tools, a process that can include establishing a centralized data repository or warehouse. During this effort, you’ll need to consistently communicate with your whole team about why change is happening here and how they can help, as well as consider what training or upskilling opportunities you’ll need to provide. 3. Deliver by implementing specific tools that fit your strategy At this point, you can start implementing AI tools to solve the specific organizational problems you’ve chosen to target. However, this isn’t just a one-and-done event, but an ongoing process that involves both choosing the right tools and embracing the human, change management side of the equation. Your advisor can help you decide which AI solutions make sense for your needs, as the market has brought forth a dizzying array of options. Within your organization, communication remains essential, as you need to not just establish momentum, but maintain it. How can leaders prepare to oversee an organizational AI strategy? An effective AI strategy typically starts at the top, with commitment from leadership. So how should leaders prepare to oversee this effort with an eye towards more effective change management? Here are key leadership pillars to consider: Self-awareness: Before you ask your team to change by implementing AI, are you prepared to do the same? AI literacy: Your leadership team and organization need a shared understanding of what AI actually is and how you’ll be using it. Change leadership: Don’t just throw change at your team, but implement thoughtfully through planning, clear communication and celebrating wins or milestones. Effective use of resources: Throughout your AI implementation process, consider what work is being done, who will perform it, when it should happen and why it matters. Coaching and upskilling: Create training or coaching opportunities for your whole team to adapt to the changes within your organization. Read more Maximize new tax strategies for senior living providers 5 strategic planning imperatives for senior living organizations Embracing change in senior living: The path to innovation and growth
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Capital allocation strategy: A guide to help CFOs establish funding priorities
For many businesses, capital allocation strategy is no longer just about where the organization wants to grow. It’s increasingly about whether the business has the cash flow visibility, operational readiness and execution capacity required to support growth effectively. That shift is changing how finance leaders approach capital allocation planning, investment sequencing and long-term financial performance heading into the next fiscal year. Keep reading to learn more. What is capital allocation strategy? Capital allocation strategy is the process of deciding how to best deploy your business’s financial resources to achieve growth and profitability. This involves reviewing your business’s strategic goals and deciding when and where to spend money to achieve them. Capital allocation strategy is led at the C-suite level, often with input from the board. CEOs, CFOs and other top executives are typically part of capital allocation conversations. Why does capital allocation strategy matter? Capital allocation strategy matters because effectively deploying your business’s financial resources is essential to growth and profitability. Even the most successful businesses can’t afford to burn through capital aimlessly, so implementing a focused capital strategy that aligns with your strategic goals helps ensure that your spending drives those goals forward. Capital allocation strategy is changing as decisions become more operationally connected In many organizations, challenges or pressures first appear operationally long before financial reporting clearly reflects the issue. In response, leaders are taking a more adaptive, flexible approach to allocating capital. Finance leaders are now basing capital allocation on a broader set of criteria Historically, capital allocation processes often focused heavily on projected return, growth potential and budget availability. Today, finance leaders are evaluating a broader set of operational and financial questions that help determine whether investments can realistically deliver long-term ROI. Does this investment strengthen the organization’s core business strengths or competitive position? Will this investment improve operational efficiency or execution capacity? Will it reduce friction or introduce additional complexity? Does the organization have the capacity to support implementation successfully? Will it improve measurable financial outcomes such as EBITDA, cash flow or margin performance? Does leadership have sufficient visibility to evaluate performance and ROI effectively? Why CFOs are prioritizing visibility, scalability and cash flow management In many organizations, growth initiatives expanded faster than the surrounding processes, capacity, reporting structures and operational workflows could mature around them. Over time, that creates fragmented reporting, inconsistent visibility and growing execution pressure across finance and operations teams. As a result, CFOs are placing greater emphasis on capital allocation planning tied directly to: Working capital visibility Forecasting accuracy Operational scalability (link to strategy and operations consulting) Cash flow management Margin improvement Technology utilization Workforce flexibility Measurable EBITDA levers That shift is making capital allocation strategy far more operationally integrated than in previous planning cycles. Why leaders should reevaluate spending that creates drag Many organizations are reevaluating investments that increase activity without improving visibility, decision-making or long-term operational performance. Here are key actions: Reassess certain expenditures that may be unnecessary Consider whether all your current expenditures are still necessary. We frequently see leadership teams reassessing: Underutilized technology platforms Duplicate systems and vendors Manual reporting processes Initiatives with unclear ownership Investments that expand staffing pressure without improving scalability Programs that continue simply because they already exist Individually, these issues may appear manageable. Collectively, they create operational drag and bottlenecks that limit flexibility and consume leadership attention. Ask hard questions to determine whether spending is necessary Overcoming operational drag is one reason capital allocation strategy conversations are increasingly tied to operational efficiency and performance improvement efforts across the organization. In pursuit of that effort, finance leaders are asking harder questions about: Where investment should continue When to continue investing — and when to divest, consolidate or exit Which initiatives should pause or be moved to long-term Where outside expertise may improve flexibility Which operational burdens can be outsourced Consider whether some finance infrastructure may be unnecessary Many organizations are also reevaluating whether existing finance infrastructure is creating unnecessary complexity. In some cases, disparate systems and inconsistent reporting environments make it difficult for leadership teams to evaluate performance confidently or prioritize investments effectively. That’s driving increased focus on forecasting visibility, reporting modernization and financial planning and analysis capabilities that improve decision-making across the business. Visibility is becoming more valuable than speed Many leadership teams still want to move quickly. But increasingly, CFOs are recognizing that accelerating decisions without improving visibility often creates more operational strain later. And many leadership teams are recognizing that faster decisions are not helpful if the underlying reporting environment is inconsistent or difficult to trust. That’s driving greater investment in: Financial planning and analysis Forecasting and reporting modernization Scenario planning capabilities Cash flow visibility ERP optimization Working capital management Operational reporting consistency Without strong visibility, organizations often struggle to identify: Where cash flow pressure may already be building Which initiatives are improving financial performance Where profitability trends may be deteriorating Which investments should accelerate Which initiatives should pause or consolidate And where operational bottlenecks may limit future growth This is especially important as organizations face increasing pressure to justify capital allocation decisions with measurable operational and financial outcomes. Selective investment is replacing broad expansion Many organizations are still investing confidently. But increasingly, leaders are prioritizing investments tied to measurable operational value, stronger forecasting visibility and improved execution capacity. Key CFO capital allocation priorities We continue to see organizations prioritize: Automation tied to measurable efficiency gains Strategic outsourcing to increase scalability Financial visibility and forecasting improvements Working capital optimization Margin improvement initiatives Tax strategies that improve after-tax performance Selective modernization with clear operational outcomes Targeted acquisitions aligned to execution capacity Where CFOs are reining in spending At the same time, many are slowing or reevaluating initiatives that: Add operational complexity without improving visibility Require significant organizational change without clear ownership Create unclear or difficult-to-measure returns Expand strain across already overloaded teams That shift reflects a broader evolution in how finance leaders approach capital allocation and long-term planning. Growth remains a priority. But increasingly, leadership teams are evaluating whether the organization can realistically absorb additional complexity before accelerating investment further. Why an effective capital allocation strategy requires operational clarity The strongest capital allocation strategies are no longer driven solely by projected growth opportunities. They are increasingly shaped by cash flow visibility, operational readiness and execution capacity across the business. That’s changing how leadership teams approach: Investment prioritization Financial scenario planning Working capital management EBITDA improvement Technology modernization Workforce planning Long-term operational scalability Organizations navigating this environment most effectively are not necessarily the ones moving the fastest. They are the ones creating the clearest connection between financial performance, operational execution and long-term value creation. Capital allocation best practices As you develop your capital allocation strategy, keep certain best practices in mind. These include: Balance growth and operational capability: Capital should drive growth but be sure to invest in the operational infrastructure needed to support that growth as well. Reevaluate existing spending: Consider whether your current investments still align with or support your strategic goals. Prioritize visibility: Financial and operational visibility is essential to determining whether your investments are paying off or should be reconsidered. Avoid unnecessary complexity: Unfocused or unnecessarily complex systems, processes or initiatives create drag on your business as a whole. Read more AI ROI: How to get more business value from your AI spending When to hire a fractional CFO: Key signs your business is ready for strategic financial leadership Strategic management vs. strategic planning: a short guide
ARTICLE
Succession planning gives financial institutions a strategic edge. Here’s how to strengthen yours.
Most financial institutions recognize the importance of succession planning. However, in today’s rapidly changing business environment, where technology and consumer demands are constantly evolving, a static documented plan alone is no longer enough. Institutions that treat succession planning as an ongoing strategic process rather than an annual exercise are better positioned to strengthen leadership pipelines, adapt to change and execute their long-term vision. A proactive approach to succession planning can also strengthen organizational resilience, support strategic priorities and position financial institutions for long-term success. Let’s explore more about that, plus how to get started with a proactive succession approach. How does reactive succession planning harm financial institutions? Passive, reactive succession planning actively makes it more difficult for financial institutions to achieve their strategic goals. Institutions that put succession planning on the back burner risk not only a last-minute scramble after an unexpected exit, but a workforce that’s unprepared for tomorrow. Poor succession planning often leads to: Talent and knowledge gaps: Deprioritizing succession planning exposes you to the risk that your workforce can’t adapt to tomorrow’s challenges because it doesn’t have the necessary skills and training. Individuals holding critical roles also often possess regulatory knowledge, customer relationships, expertise and awareness of institutional history that is difficult to replace. Business continuity risks: Succession planning involves identifying mission-critical roles and building a bench to fill them. Without an active succession plan, you risk operational disruptions and general uncertainty should an essential role become empty, even temporarily. Reactive hirings: Financial institutions often start succession planning only after someone in a critical role starts preparing to depart. This leaves you at the mercy of a last-minute scramble for talent where you’re forced to settle for whoever’s available rather than prioritizing fit. Falling employee morale: Reactive hiring can also lead to uncertainty around leadership continuity. This can harm morale and lead to an unfortunate ripple effect where one departure triggers others. Strategic misalignment: If you don’t actively develop future leaders, you may struggle to meet tomorrow’s strategic needs by keeping up with changes in customer expectations, workforce demographics, regulation and technology. However, making succession planning a more active process helps turn these weak spots into organizational strengths. How does succession planning give your financial institution a strategic advantage? Active succession planning is a key tool that financial institutions can use to connect talent development with strategic goals. Engaging in succession planning as an ongoing process rather than an occasional event creates growth opportunities within your team, builds a talent bench for critical roles and helps ensure that your talent will meet your strategic needs for years to come. Better retention and employee experience If you have an active succession planning process, your employees are more likely to stick around and enjoy their jobs. This is because succession planning gives your team a clearer sense of how they fit into your overall organization — and how they can move upwards. Don’t just plan for executive roles, either. Positions like teller, while lower-level, are nonetheless essential to the success of your institution and should be considered in your planning as well. This approach makes succession planning more exciting for your whole team, not just your future leaders. Clear and actionable career paths Good succession planning creates clear, actionable careers for people working within your organization. This gives talented team members the opportunity to progress their careers and also helps them understand how to align their development with your institution’s future plans. Develop institutional knowledge, skills and abilities Creating an internal talent bench helps preserve your institutional knowledge, which plays a key role in keeping your operations running smoothly. You’ll also be able to draw on a higher level of in-house capabilities, making it easier to promote internally. Create cross-functional exposure across silos Aspects of succession planning like coaching, mentorship and stretch assignments help your top talent learn to think about your institution more holistically. When that talent moves into higher roles, they’ll do so with a clearer understanding of how your various functions and departments work together, and how their decisions will impact your institution as a whole. Build a deep, capable talent bench to maintain business continuity Finally, active succession planning means you are prepared for unexpected departures in critical roles. If your CEO suddenly decides to take up windsurfing in Tahiti, you’ll be much more likely to have capable talent ready to step in on either an interim or a permanent basis to maintain continuity and help ensure your strategic priorities remain on track. Here’s how financial institution leaders can implement a proactive succession planning strategy Proactive succession planning involves identifying your mission-critical roles and actively preparing internal talent to fill them. To be most effective, succession planning should align with your overall strategic goals, so your team is ready for tomorrow as well as today. Here’s how financial institutions can start implementing an active succession planning strategy: 1. Get support from your board Nobody wants to ask when the CEO plans to retire. It can be an uncomfortable conversation, but that discomfort risks leaving your institution vulnerable should that retirement come with less of a runway than expected. Lean on your board to help facilitate conversations around succession planning with key leaders. Board members are often better positioned to raise the issue than day-to-day employees and should understand that taking a hand here is part of their fiduciary duty to the long-term health of your institution. 2. Identify critical roles Identify the essential, mission-critical roles inside your institution — roles where an unexpected departure would cause genuine disruption. These are typically roles essential to serving customers, managing risk, executing strategy or maintaining operations. Don’t assume that a lower visibility role is less important here, as people working in those roles may possess valuable institutional knowledge or customer relationships. For example, if only one person on your IT team knows how to keep your aging servers running, you could be in a lot of trouble if that person leaves. 3. Align with your long-term strategic planning Consider how talent fits into your long-term strategic planning. Specifically, what roles will you need to fill over the next five years or so? How are your most critical roles likely to change during that time frame? Think of succession planning as a tool to deliver a workforce that fits into your long-term strategic needs and an opportunity to focus your talent investments. 4. Integrate succession planning into your performance management process Make succession planning an integrated element of your existing talent processes — like recruiting, performance management and talent reviews — rather than a standalone effort. This helps you identify and develop a pipeline of emerging leaders and other high-performers and also makes it harder to fall back into a passive succession approach. 5. Account for change management Succession planning is a key tool to align your workforce with the changing needs of your institution. Develop talent with an eye towards promoting people who can weather change, especially during an era when it’s happening so rapidly. 6. Don’t overlook your unique strengths Is being closely tied to your local community a core part of your financial institution’s appeal? What about your culture, specialized expertise or customer service? Take these types of unique strengths into account when succession planning, especially because institutions that rely on a particular strength to stand out in the market may find promoting from within helps maintain that differentiator over time. 7. Begin well ahead of time Proactive succession planning allows you to take your time, avoiding a last-minute scramble and reducing your risk of rushing a promotion or making an offer that doesn’t work out (which can be expensive and damage your strategic progress). By giving your institution a longer runway, you’ll also find it easier to maintain business continuity and act with confidence even if the unexpected happens. Read more Can traditional banking avoid losing Gen Z to fintech? Financial institutions need proactive general ledger certification Ransomware attacks on financial institutions: What to do
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Performance management consulting FAQ
Performance management consulting services include a range of advisory services that are designed to help organizations improve performance. These services typically include support to help develop strategy, improve operational efficiency, manage change and develop high-performing talent.
Wipfli’s performance consulting services for businesses and organizations include:
- Strategy: Strategy development and implementation, digital strategy development and outsourced CIO support.
- Operations: Business process analysis and improvement, continuous improvement advisory, software selection, change management, project management and business analyst services.
- People: Organizational leadership and team development, compensation analysis and design, organizational development, HR advisory, leadership coaching and talent assessment tools.
The main outcome organizations can expect from performance management consulting is better performance in the specific process or function they want to address or across their organization.
Wipfli ties our performance management services directly to your organization’s objectives and critical metrics. Whether you need more effective strategy, operations or leadership, we work to understand your vision of success and build a roadmap that delivers measurable improvement.
While every engagement is tailored to the specific client, our process is built on data, organizational objectives and industry-specific context.
Our process often includes:
- Discovery and assessment: Building an understanding of your organization’s strategy, culture, processes and technology.
- Strategy alignment: Connecting your challenges to actionable plans for improvement, and keeping your organization aligned on objectives.
- Implementation support: Applying proven methodologies to help you implement initiatives, technology and strategy effectively.
- Measurement and optimization: Tracking key metrics to demonstrate impact and identifying areas for improvement.
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