80% Turnover Rate in Home Care Reaches an All-Time High

The 2024 Activated Insights Benchmark Report states that the home care industry is at a critical 80% turnover rate. Unsystematic processes are the main reason for home care providers withdrawing from new clients. When a home care agency’s processes aren’t established, it confuses caregivers for various reasons such as scheduling and dispatch to a client and mismatched client-caregiver needs.

The data reports that home care turnover increased more than 12% over the past two years and the current industry-wide turnover rate is 79.2% (Famakinwa, 2024).

Apart from the turnover rate, the report also stated that 12.8% of home care applicants were hired in 2023 which is a decrease in applicant to hire ratio compared to previous years.

Indeed.com is the main job site and is favored by caregivers successfully seeking jobs. However, it is most futile in terms of looking for long-term commitment. The report states that while Indeed is a popular job site, it also has the highest turnover rate of 88%. In hindsight, it is favorable for recruiters to find home care providers easily in the same way also easily lose these candidates.

Other recruitment sources are employee referrals from hospitals, word-of-mouth or reputation, and a home care agency’s website. An agency’s website comes in third among these with 6.0% of application sources.

It is good practice to read home care industry insights now and then to have an advantage on how to apply or avoid certain practices that are prominent in the industry. It is good to take note of the turnover rates of caregivers and the hiring rate and sources of applicants to best utilize an approach to seek committed caregivers as well as where to scout them.

Do you know your own agency’s caregiver turnover rate? What about the best recruitment source to acquire the best talents? Share your best practices in the comments and let’s discuss together!

References:

https://homehealthcarenews.com/2024/07/home-cares-industry-wide-turnover-rate-reaches-nearly-80/

https://activatedinsights.com/benchmarking/?utm_campaign=BenchmarkingReport&utm_content=298817337&utm_medium=social&utm_source=linkedin&hss_channel=lcp-1189322