How To Pay Caregivers More WITHOUT Giving Raises with Special Guest Aaron Osgood from impoweredSep 15, 2022
When it comes to finding and keeping caregivers it continues to get more and more difficult. The cost per hire and retention continues to climb and you can't just keep giving them raises. So what can you do?
There is a solution! I am so excited to announce that Digital Champions has partnered up with Aaron Osgood from Empowered to help you recruit and retain more caregivers. Have a listen while Aaron shares how you can pay your caregivers more WITHOUT raises.
To learn more about how impowered can help your agency - click here
Do you want to pay your caregivers more? Of course, you do!
However, we don't want to just be throwing out money, salaries, or constant raises.
But what if there was a way to pay them more money, not just from inflation and salary increases?
In today’s post, Aaron Osgood, founder of Impowered will talk about how we can pay our caregivers more money.
1. impowered Approach
According to Aaron, one of the best ways is through an empowerment approach. It’s an effective way of giving them more opportunity.
In home care, when you have one caregiver with only one client, typically there's only so much you can pay. This is because you're getting reimbursed or paid billing so much.
So there's that amount you can pay.
But one way that you can approach it is working in to your budget, similar to any type of benefits that you might provide.
Take for instance, insurances, working into like a dollar, $50, $90 per hour worked by your caregiver.
And then taking that amount of money that you allocated per hour worked into giving more advancement opportunities.
So one thing that impowered us is we give caregivers the ability to refer and recruit friends, family, and other people that are either in the industry or not in the industry. These individuals must have compassion, empathy and really want to get into the caregiving field.
You should let your caregivers know that you believe they have the wisdom and knowledge to create an impact in the community as a caregiver. Let them share that wisdom and knowledge with other caregivers.
Allow them to build their own team. Keep in mind that when they have their own team, they can hire and fire people. You’re still doing that.
It just means that they're able to bring more people in, and then mentor them in some capacity.
And when they're mentoring their team, you can propose that for every recruit that they can retain to the company, they’re going to get a referral fee. Let’s say, they’ll get paid with a dollar for an hour that they work.
And then you can even go a step further and have a second tier referral.
So, for example, if I refer Nick and I get one dollar per hour that Nick works, and then if Nick refers Matt, I’ll get $0.20 an hour that he works, and so on.
As you can see, you’re allocating a fixed cost per hour worked. But you're giving unlimited upward mobility and unlimited advancement opportunities to your caregivers.
Say you can build as big of a team as you want to build.
You can refer one person or even 30 people, that's up to you.
What you're doing is you're creating ambassadors.
You’re making ambassadors to your company, ambassadors to caregiving, and ambassadors to solving the caregiver shortage.
You're empowering your caregivers. And that's the biggest approach!
2. Value-Based Compensation
Caregivers work for two reasons. (1) it’s a job; and (2) the purpose behind it.
Caregivers work because it’s a job for them. Yes, there’s a monetary side of it, but there’s also a meaningful purpose for it.
So how can you bring those two together? It’s vital for home care business owners to empower their caregivers to make an impact and share their knowledge to the field.
It’s important to make them feel that you're going to profit in this industry with them, and you want to pay you more for doing that.
That's what value based compensation is.
So now you're not just saying:
“Hey, you've been here for a year, we're going to increase your pay.”
And then, after two or three months, someone’s coming to you asking for a raise.
Let them know how they can make more money. Once you do this, you can
“Hey, this is how you can make more.
And once you do this, you can be one of the only companies in your area that can honestly and transparently say that you are a home care company that has unlimited advancement opportunities and upper mobility.
You should have purpose and create an impact in your community.
You can also help in solving the caregiver shortage problem by taking part in this program. Of course, you can do it easily by using Impowered.
Yes, that's how you can effectively do it.
3. Internal Incentive Programs
The next approach is the Internal incentive program, value based.
This approach is built in right into Impowered, wherein you can earn badges by desired, through desired behaviors.
As a caregiver, you can have five levels of categories. To reach each level, they have to earn certain badges.
And so whenever they come to you and say, “Hey, I'd like to earn more”, you may answer:
“Hey, this is how you can make more with our company. It's right here!”
We want to reward good, awesome caregivers.
And that's naturally just going to bring more people in your company because you're going to start establishing a brand identity within your community.
It’s a way to show that they believe in their caregivers, that they believe in empowering their caregivers and they believe in taking care of their caregivers.
As a result, we're going to have better care, quality care, compassionate care, and most of all, a more consistent care with more retention.
It's about recruiting, but it's also about retention.
You don't want a caregiver to come in and provide care for a week, and then they turn over.
To learn more about how you can empower your caregivers to build their team, how to create more retention, and bring more caregivers into your organization, visit www.thedigitalchamps.com/impowered
We want your caregivers to feel empowered. That's why it's spelt empowered with an I.
So it's impowered team.com with an I.
- I'm powered to grow.
- I'm powered to have an impact.
- I'm powered to make a difference.
- I'm powered to have more purpose.
That's what we want each and every one of our caregivers to feel like, when they're joining your organization and they're using Impowered.
JOIN THE HOME CARE CHAMPIONS COMMUNITY!
Includes weekly email with: educational tips, upcoming events, book recommendations, motivation, and special promotions to help you grow your home care business.
We promise not to abuse your inbox. You can unsubscribe at anytime.