Caregiver turnover is too high, and home health providers are seeing it as a top threat to the industry, according to a recent report. With staff retention on the forefront of providers’ minds, understanding caregivers—why they choose to work for a provider or choose to leave—is becoming all the more essential.
There are a number of areas providers can improve in order to reduce turnover, including where they hire, training hours and competitive pay. It may help providers to understand why caregivers choose to work for a provider in the first place.
Here are the top 5 reasons caregivers chose to work for a provider in 2015, according to Home Care Pulse’s annual Private Duty Benchmarking Study:
Understanding why caregivers choose to work for a provider can influence retention, according to the report. Some providers tout their word-of-mouth reputation for their caregiver retention successes, and recommendations from other caregivers remains a top hiring source.
While pay was not explicitly named as a top reason why caregivers choose to work fora provider, competitive pay remains vital for staff retention, the report found. Home care providers that pay caregivers about the 75th percentile of competitive pay for the industry had a median turnover rate of 50% in 2015. While that rate is still too high for most providers to feel comfortable, those that pay caregivers below the 75th percentile had a median turnover rate of 62.6% in 2015.
The correlation between competitive pay and retention is proven, but providers are feeling the impact of wage pressures more than ever before. From increasing minimum wage rates to the extension of overtime benefits for hourly and salaried employees, the issue has come to a head in 2016.
Written by Amy Baxter