By Stephen Tweed
What does it cost you when a caregiver quits? How much easier would your life be if you could reduce your turnover and keep your best caregivers?
Data from the 2013 Private Duty Benchmarking Study from Home Care Pulse shows that the median caregiver turnover rate last year was 52.6%. That’s up from 49.8% from the 2012 study, and we’ll have the 2014 study numbers shortly.
Research conducted by Leading Home Care and Caregiver Quality Assurance® in developing our “Cost of a Bad Hire Calculator”shows that it costs you $1,576.24 when you take into account hiring costs, on-boarding costs, and lost opportunity costs. That doesn’t include the loss of reputation and customer satisfaction.
It’s clear that one element of growing a highly successful home care company is to have in place processes to retain your very best caregivers. Data from the 2013 Private Duty Benchmarking Study shows that the number one way to retain caregivers is through consistently showing appreciation and recognition, and the number one way that caregivers prefer to be recognized is “verbal recognition by Supervisor.”
Purchase this interactive web conference, “Retain the Best Caregivers: Top Techniques to make your caregivers feel valued and appreciated”, and listen as Stephen Tweed, CEO of Leading Home Care and Founder of Caregiver Quality Assurance® describes in detail what you need to know about caregiver appreciation and recognition and also shares concrete ways you can make your caregivers feel more valued and appreciated.
