What the Most Shocking Home Care

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We surveyed more than 760 home care providers from over 1,461 cities to find out what’s working and what’s not.

The results are sure to surprise you.

Choose from more than 200 pages of the complete national report in the industry and get the 7 greatest findings in homecare that we are certain everyone will want to learn sooner than they do.

  •  The caregiver shortage negatively impacted nearly 100% of providers–the worst it’s ever been  The caregiver shortage negatively affected nearly 100% of providers–the worst it has ever been
  • Client growth rises to the highest rate we’ve seen in 4 years as median revenue increases Client growth at the highest rate in 4 years due to a rise in median revenue
  • People’s opinion of your agency directly affects your revenue–by as much as 35% Your agency’s reputation directly impacts your revenue – up to 35%
  • Agency owners are still worried about COVID-19–making 2021 the first year ranks as one of their top threats  Agency owners still worry about COVID-19 – making 2021 their first year as one the top threat
  • Indeed continues to recruit the newest hires, but it’s causing the highest turnover rate  Indeed continues to hire the most people, but it has the highest turnover
  •  Agency owners are strengthening their compensation plans to compete in a crowded labour market | Agency owners are enhancing their compensation plans to compete in a competitive labour market
  • Agency owners that offer both orientation and ongoing training see a $700,000.0 increase in their revenue

Nearly 100% of providers were affected by the Caregiver Shortage – the worst it’s ever been

98% of agency owners acknowledge that the caregiver shortage has hurt their business. This means that only 2% felt they had enough staff to manage their agency.

Even worse, the number of agencies reporting that the shortage had a very negative effect jumped nearly 10% compared to last year.

In the past three years, agency owners have not had to deal with caregiver shortages as much.

Accordingly, 85% of home care providers had to decline client cases because they did not have enough staff.

It’s not surprising that 80% of agency owners see caregiver shortages/turnover as their top threat. This is why providers have prioritized creating caregiver retention and recruitment programs.

Home care agency owners should consider building strong retention, and recruitment programs should be a top priority.

While the number of agencies that have experienced caregiver shortages has increased, caregiver turnover has remained relatively constant over the past three years. The problem with caregiver turnover is not recruitment. It’s retention.

Retain caregivers starting at the beginning. This will help you break the cycle of caregiver turnover.

  •  Create a brand for your employer and define your ideal candidate.
  •  Choose the right recruitment sources by learning how to navigate online job boards and social media, host virtual hiring events and in-person job fairs, work with a recruiter, and create a caregiver referral program. |Second Step: Select the right recruitment sources. Learn how to use social media and online job boards, create caregiver referral programs, and work with a recruiter.
  •  Optimize your job postings to offer the candidates what they want. Make your applications mobile-friendly and mobile-first. You can also choose from paid or unpaid ads. Track your success.
  • Make sure your caregivers are involved in the hiring process. Ask the right questions, set realistic expectations, and close contact with the applicant from the offer to the application.
  • Get on board for retention. This involves improving your post-accepted offers communication, understanding what motivates caregivers to show up, and learning how you can support caregivers during the first 90 days where turnover rates are highest.

As Median Revenue increases, client growth rises to the highest rate in 4 years.

Despite the depressing effects of the caregiver shortage that all owners feel, home care agencies are doing much better than they did for the past 4 years.

Last year, home care providers saw a 7.3% growth in client base. This was more than the 5.0% growth that was seen in 2020. This level of client growth has not been seen since 2018.

Median revenue has also continued to increase. The median revenue has increased 7.1% over the past four years.

It is worth noting that Home Care Pulse users generate 48 per cent more annual revenue than non-users.

Home care providers address the shortage of caregivers by strengthening their relationships with clients and referral sources as their number one priority.

Home care is ultimately about the people you are caring for: your clients.

Agencies that focus on building strong relationships with clients, despite the shortage of caregivers, are seeing increased revenue and thriving.

Could you not take our word for this?

Let’s look at how your clients think about you can affect 35% of your total income.

Your agency’s opinion directly affects your revenue–by as much as 35%

Your caregivers’ opinions about your agency are as important as the reputation you have among clients’ friends. They make up over 35% of your total income.

According to the 2022 HCP Benchmarking report, word-of-mouth and client referrals are the top two marketing sources for 2021. This is why home care providers in North America have made it their number two priority to improve their relationships with referral sources.

This is what this means for homecare: Agency owners are more conscious of their reputation online and in person.

Your agency’s reputation will be enhanced if you are intentional in your interactions with your clients and caregivers.

Your agency’s reputation is important even before yours. Most of this happens online. Manage your online reviews to see what others are saying about you. 88% of consumers will read reviews before making a purchase.

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