Nearly one-third of all healthcare recruiters in the US rank employee turnover
as their number one concern. That’s not surprising, as the national average
caregiver turnover rate is currently around 59% and rising.
Not only does caregiver turnover decrease the quality of patient care,
reduce morale, and lower productivity, but on top of that, it’s probably
the biggest hit to your budget!
So what can you do to reverse this trend?
Caregiver Training Advisor, Cassie Grimm has the answer!
Cassie says . . .
There’s a reason why companies that use intheknow experience 78% lower caregiver turnover than the national average! Offering consistent and practical training reduces turnover, stabilizes the care team, and increases client satisfaction.
So how much money could you save on caregiver turnover alone? Consider the example below:
In a nutshell . . .
Smith Home Care employs an average of 300 caregivers. Based on the national average caregiver turnover rate, they lose about 177 caregivers every year. Each of those caregivers is paid an average of $11.50 per hour, and are required to complete 12 hours of training, for a total cost of $24,426 per year!
However, with intheknow Smith Home Care could cut down their turnover by 78%, losing about 39 caregivers per year rather than 177. That decreases their cost of turnover to $5,382 per year.
Therefore, Smith Home Care can save $57,132 on turnover alone over the course of a 3-year E-learning agreement.
Improve Your Caregiver Training Process
& Save Big on Caregiver Turnover!
To learn more about how you can train, engage, and retain your caregivers,
reach out to Cassie for a quote or interactive demo today!