Case Study
Revolutionizing Senior Living Through Purpose-Driven Leadership
$45
Million
Increase in Enterprise Value
Partnership
9 years And Counting
At a Glance
Bickford Senior Living, a multi-decade family organization in the senior living industry, partnered with Stagen Leadership Academy in a transformative journey beginning in 2017. This collaboration aimed to reinvent the company’s approach in a heavily commoditized industry, resulting in a $45 million boost in enterprise value.
Discover
The Challenge
Bickford Senior Living found itself at a crossroads in an industry lacking innovation and differentiation. Despite following traditional success formulas, the company struggled to maintain its competitive edge. Leadership felt stuck and uncertain about their path forward. As the second generation prepared to take the reins of the family business, it became clear that a fundamental shift was needed to secure the organization’s future and stand out in a saturated market.
Design
The Intervention
Stagen Leadership Academy stepped in with a structured yet customized approach to help Bickford rediscover its purpose and reimagine its business model. The partnership began with a crucial milestone: creating a manifesto to articulate Bickford’s core purpose. This foundational work set the stage for a multi-year transformation process.
Stagen guided the organization in building a transformative model for the industry’s future, challenging conventional wisdom and shifting perspectives within the senior living industry. The intervention focused on reinforcing the company’s purpose at every level and fostering scalable transformation throughout the organization.
This comprehensive approach involved leadership development, strategic planning, and cultural transformation. By aligning the entire organization around a clear purpose and innovative vision, Stagen helped Bickford break free from industry norms and chart a new course for success.
Deliver
Financial Results
As a result of the partnership with Stagen, Bickford achieved a $4.3 million year-over-year revenue increase, which translated to a remarkable $45 million boost in enterprise value for just 5 out of their 60 locations.
In a testament to the effectiveness of their new approach, Bickford’s operating margins grew while competitors faced margin compression. This growth in profitability signaled a significantly strengthened competitive position in the industry.
The company’s financial success culminated in 2024, which Bickford hailed as its best year to date. Revenue and occupancy hit all-time highs, demonstrating the long-term impact of the purpose-driven transformation.
Societal Impact
Beyond the impressive financial results, the partnership with Stagen empowered Bickford to become an innovative leader in the senior living industry. The company’s transformation extended far beyond its bottom line, influencing the entire sector and improving the lives of seniors under their care.
TEXT
The company’s success has positioned it as a thought leader in senior living, inspiring other organizations to rethink their approaches to care and business operations. Bickford’s journey demonstrates that it’s possible to achieve significant financial success while also improving the quality of life for seniors and creating a more purposeful work environment for employees.
