The caregiver agency business industry is booming with aging baby boomers who need home care services. Starting a private caregiver agency is a great way to take advantage of this growing market opportunity. However, there are a few things to keep in mind when considering this business.
Caregiver agencies are licensed, insured and bonded which gives families peace of mind knowing the caregivers are vetted for criminal background checks, drug screenings and have their purported credentials verified. The agency also handles payroll taxes and worker’s compensation insurance for their employees which are costs that a family would have to pay if they hired an independent (direct hire) caregiver.
Besides providing home health aide services, such as bathing, dressing, grooming and toileting, meal preparation, grocery shopping and light housekeeping, caregivers provide companionship and social interaction. This allows seniors to live in their own homes as long as possible while receiving quality care that helps them remain safe and healthy.
Caregiver agencies can provide the necessary specialized skills to meet each client’s needs. They can also help clients with medication management, diet and nutrition, and ADLs (Activities of Daily Living). Family members often have to travel for work or other obligations and cannot be there to assist their loved one with these activities. Homecare services can be a lifeline for these families and it is important that they get the best quality of care from a trusted source.
Hiring an independent (direct hire) caregiver puts the burden of liability and worker’s compensation insurance on the client themselves, which can cost hundreds or even thousands of dollars. Also, if the caregiver becomes injured on the job, the client will have to cover medical bills and time off of work. In addition, the family will have to coordinate scheduling changes and be responsible for finding a backup caregiver if their primary caregiver cancels or does not show up.
Families can save money by hiring an independent caregiver directly, but they may have to spend a lot of time and energy interviewing and screening candidates. Agencies will typically have a database of prescreened, reliable caregivers with the right experience and qualifications to meet their client’s specific needs. Agencies can also arrange backup care quickly if the primary caregiver cancels or is sick.
The culture of a homecare agency can make or break their ability to recruit and retain caregivers. Many homecare agencies try to boost employee engagement with incentives such as team outings, additional perks and recognition. However, these efforts do not always have the desired impact on caregiver satisfaction and retention. Using gamification in the right way can help homecare agencies boost employee engagement by positively impacting each of the major determinants of caregiver motivation: effective onboarding, self-efficiency, feedback, opportunities for professional development and a positive work culture. This will lead to better performance, higher job satisfaction and ultimately, more satisfied, loyal clients. caregiver agencies