{"id":5233,"date":"2022-03-23T20:08:20","date_gmt":"2022-03-23T20:08:20","guid":{"rendered":"https:\/\/melodybenefits.com\/?p=5233"},"modified":"2022-06-08T20:50:02","modified_gmt":"2022-06-08T20:50:02","slug":"incentives-home-healthcare-providers","status":"publish","type":"post","link":"https:\/\/melodybenefits.com\/incentives-home-healthcare-providers\/","title":{"rendered":"Budget-friendly Incentives for Home Healthcare Providers"},"content":{"rendered":"

35%.<\/span><\/p>\n

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That\u2019s how much higher the turnover rate is in home healthcare than in other industries.<\/span><\/p>\n

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Employee retention is one of the biggest industry challenges<\/a>.<\/span><\/p>\n

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And this is one of the biggest industry questions:<\/span> Should home healthcare agencies<\/a> incentivize their aides to stay with them?<\/b><\/p>\n

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\u201cYes. Incentivize,\u201d says <\/span>Levi Pavlovsky<\/span><\/a>, co-founder and COO of <\/span>Medflyt,<\/span><\/a> a digitized staffing platform, \u201cbut it\u2019s not that simple.\u201d<\/span><\/p>\n

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The obvious incentive is a pay raise. If an agency incentivized healthcare workers with higher than average salaries, there\u2019s no question that it would attract and retain top talent.<\/span><\/p>\n

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But, as all agency owners know, they\u2019re limited in what they can pay. Insurance companies and Medicare set the prices for home healthcare services. Profit margins are already razor-thin. They wouldn\u2019t survive a pay raise.<\/span><\/p>\n

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NY Wage Parity Law<\/a> sets a minimum living wage for HHAs who do Medicaid reimbursed work. Agencies can\u2019t go higher than that, even to gain a competitive recruitment advantage.<\/span><\/p>\n

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Non-monetary incentives<\/b><\/h2>\n

The good news is, not all incentives have dollar signs. <\/span>Any reward you give an employee for meeting or exceeding expectations is incentivizing.\u00a0<\/b><\/p>\n

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Showing appreciation creates goodwill and loyalty. It encourages continued excellence.<\/span><\/p>\n

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\u201cGiving gift cards was the top method of showing appreciation to caregivers in 2017. Over 90% of home care agencies reported that they used this method.\u201d<\/span><\/p>\n

(<\/span>Homecarepulse.com<\/span><\/a>)<\/span><\/p>\n

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In every industry, leaders try to find creative ways to reward top workers.\u00a0<\/span><\/p>\n

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Mega-corporations can afford to go all out. For example, insurance giant AFLAC hosts a six-day Employee Appreciation Week. They treat employees to theme park visits, movie showings, concerts, dinners, and prize giveaways.<\/span><\/p>\n

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Your agency may need to think a bit smaller, but there are still countless incentive options. Some of these do cost money, but the price tag is much lower than company-wide pay raises. (Or Six Flags for all.)<\/span><\/p>\n

 <\/p>\n\n\n\n\n\n
Creative Employee Incentives<\/b><\/td>\n<\/tr>\n
Appreciation<\/b><\/td>\nExperiences<\/b><\/td>\nGifts<\/b><\/td>\nCareer Growth<\/b><\/td>\n<\/tr>\n
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    \n
  • Employee of the Month Award \/ Wall of Fame<\/span><\/li>\n<\/ul>\n
      \n
    • Shoutout in company newsletter<\/span><\/li>\n<\/ul>\n
        \n
      • Post, tweet, or video on Facebook, Twitter, Youtube, or any social media<\/span><\/li>\n<\/ul>\n
          \n
        • Handwritten note, email, text, or phone call<\/span><\/li>\n<\/ul>\n<\/td>\n
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  • One on one lunch with company executive<\/span><\/li>\n<\/ul>\n
      \n
    • Team building activities<\/span><\/li>\n<\/ul>\n
        \n
      • Annual company picnic<\/span><\/li>\n<\/ul>\n
          \n
        • Awards party<\/span><\/li>\n<\/ul>\n
            \n
          • Group meetings<\/span><\/li>\n<\/ul>\n<\/td>\n
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  • Gift cards<\/span><\/li>\n<\/ul>\n
      \n
    • Flower bouquet<\/span><\/li>\n<\/ul>\n
        \n
      • Additional PTO<\/span><\/li>\n<\/ul>\n
          \n
        • Magazine subscription<\/span><\/li>\n<\/ul>\n
            \n
          • Referral bonus program<\/span><\/li>\n<\/ul>\n
              \n
            • Tickets to movies, concerts, or sporting events<\/span><\/li>\n<\/ul>\n<\/td>\n
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