How Much Does it Cost to Train, Engage and RETAIN Your Caregivers?
In the Know
It’s no secret that delivering ongoing, professionally prepared, caregiver training to the direct care providers on your team is one of the best ways to improve retention.
It’s no secret that delivering ongoing, professionally prepared, caregiver training to the direct care providers on your team is one of the best ways to improve RETENTION.
Your Caregivers CRAVE consistent, engaging, and practical educational opportunities that provide the tools they need to perform their duties confidently and competently.
Your clients DESERVE the very best care delivery that only well-trained Caregivers can provide.
But how much does it cost?
Last week we learned from the 2018 Home Care Benchmarking Study that agencies with a median revenue of $1.6M said they invest 0.1% of their total revenue in caregiver training. For an agency with 20 Caregivers, that’s about $80 per Caregiver, per year.
We took a quick poll to see what you think.
Here’s what you told us:
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Fifty six percent (56%) of you said a company needs to spend between $10 and $100 per Caregiver, per year to RETAIN the care providers on your team.
- Another 25% said you think you should spend between $500 and $1000 per Caregiver, per year.
The Good News . . .
Professionally prepared, engaging, and practical training for the Caregivers on your team is more affordable than you think!
For example, on average, (depending on how many caregivers you employ) subscribers to In the Know On-the-Go pay about $49 per Caregiver, per year for access to 125+ e-learning modules, the ability to track learner progress, print reports for surveyors, and much more.
Employee turnover is EXPENSIVE!
Current research suggests it can cost as much as 60% of an employee’s annual earnings to replace him or her. So, a caregiver who makes $20,000 per year will cost as much as $12,000 to replace. Multiply that by the number of people who quit each year and the costs can become overwhelming.
You Can’t Afford to Ignore Training!
Would you rather spend $49 per caregiver to keep your employees,
or $12,000 per caregiver to replace them?
A Better Choice
Your Caregivers are the heart of your reputation! A small investment in the industry’s easiest-to-use and most effective caregiver training program can make all the difference. Investing in quality training lets your Caregivers know they are a vital part of your team and that you want them to stick around!
Ready to Get Started?
Reach out to an In the Know Caregiver Training Advisor today!
