In-home care has never been in higher demand, and the need for workers is slated to continue to increase. According to the 2020 U.S. Census, one in six people in the U.S. are 65 or older. As the population continues to age, this creates a business opportunity for compassionate entrepreneurs who want to help care for older adults. But with a high demand for these services the need for qualified caregivers rises. High caregiver turnover rates can be a burden for any business owner — increasing training costs and lowering the quality of care for clients.
So, what are the main reasons caregivers leave, and how can you, as a CareBuilders at Home franchise owner, create a work environment that fosters caregiver retention? Let’s break it down.
3 Reasons Caregivers Quit
1. Lack of support and training: Caregiving is a tough job built for the compassionate. Still, even with all the empathy in the world, inadequate training can leave caregivers feeling unprepared, overwhelmed, and even undervalued. These feelings can often compound, leading to low morale and retention.
2. Wages and benefits: The U.S. Bureau of Labor Statistics estimates the median wage for in-home caregiver is $33,530 per year. Competitive pay, like any other industry, is crucial to both attract and retain employees.
3. Hours and scheduling challenges: In-home care can be an around-the-clock job. For some people, this can make it hard to maintain a consistent schedule outside of work.
How to Fix Caregiver Retention
Each year, voluntary turnover costs U.S. businesses $1 trillion. Investing in retention is investing in your business. Here are some ways to increase your retention, lower turnover, and create a positive work environment everyone wants to be a part of.
1. Training and development: Invest in comprehensive training so your caregivers feel ready for the task of taking care of others. Ongoing training about safety, new research, best practices, and more, helps keep caregivers up-to-speed. It increases the quality-of-care clients receive, and creates an environment where caregivers feel valued and invested.
2. Competitive compensation and benefits: Competitive wages attract and help retain caregivers. Offering competitive wages is crucial, but so are benefits. When you franchise with CareBuilders at Home, caregivers are given a comprehensive benefits package that includes:
- Medical, dental, and vision insurance
- 401K + matching
- Life insurance
- Flexible schedules
- Accident insurance
- Tuition reimbursement
Because caregivers are employees of CareBuilders at Home, we take care of tax preparation, insurance assistance, payroll support, and more, so you can focus on other aspects of caregiver retention and your business.
3. Flexibility: Indeed reports flexibility at work is a key ingredient to reducing turnover and increasing retention. Offering a variety of shift options can allow caregivers to choose a schedule that works best for them. In addition, allowing employees to swap shifts or pick up extra ones when needed can help caregivers feel happier in their roles and reduce scheduling conflicts you have to fix.
4. Hire right, right away: One of the best ways to improve retention is to hire the right caregivers from the start. CareBuilders at Home uses a proprietary caregiver recruitment strategy to help you fill your caring roster with employees you need and want. Our technology makes the tedious task of recruiting and hiring caregivers a streamlined process. Our proprietary recruiting platform helps you recruit by connecting you with qualified candidates. Finding, scheduling, interviewing, and hiring have never been easier.
We Care at CareBuilders at Home
At CareBuilders at Home, we know the importance of employee retention. That’s why we spend dedicated time training our franchisees on employee hiring, training, and retention strategies. When franchisees are well-trained, caregivers flourish. With our caregiver recruitment tool, employee benefits, and training, worrying about caregiver retention can become a thing of the past.
To learn more about what CareBuilders at Home offers franchisees for assistance and for information on opening your own franchise, request information today.
