Investing in your Business through your Employees

Today’s article will cover investing in your senior care agency through your employees. While, as a home care agency owner/operator there are many ways to invest in your business, one way that you may not have considered, is investing in your business via your employees. The best part about investing in your employees is that there is no one-size-fits-all approach to this method. This gives you the ability to tailor your investment to best fit your employee’s needs. Below are several ways to do this.

  • Insurance
    • Health
    • Vision
    • Dental
  • Supplemental Insurance products (such as Aflac)
  • Short Term and Long Term Disability
  • Paid Time Off (PTO)
  • Floating Holidays
  • Paid Holidays
  • Family Oriented Benefits, 
    • such as rewarding children for good grades
    • Providing back to school bonuses or even school supplies
  • Education
    • Job Related CEUs
    • CNA or HHA certification 
    • College Reimbursement
  • Flexible Schedules
  • Recognition Programs
    • Bonuses for Awards

Yes, we realize that all of these will cost your agency money and that you are probably already offering several of these benefits to your employees. However, we hope that some of these benefits are ones that you haven’t considered yet. With caregiver retention being paramount to an agency’s success, any way that you can differentiate yourself from your competitors will strengthen your position in the market.

Author: Tyler West

Tyler West is a founding partner of Senior Care Business Advisors with over 10 years of experience in personal care, home care, health care and technology. He is also a former Director of Operations for a Home Care Agency and worked in technology with ClearCare and other organizations. Additionally, he is a published author. Connect with him through Senior Care Business Advisors website, www.SeniorCareBA.com, twitter.com/@seniorcareba or LinkedIn https://www.linkedin.com/company/senior-care-business-advisors-llc. You can also reach him via email at twest@seniorcareba.com.

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