Horner explains that when looking to prevent or overcome a revenue plateau, home care agency owners should build their staff with growth in mind, and not attrition. Bolstering staff levels above an agency’s present needs actually can create an influx of new clients.
“Any time an agency tells me sales are stalling or plateauing, the first thing I look at is the last year’s worth of new hires and net hires — how many people it’s maintaining,” Horner says.
Without adequate numbers of high-quality care staff, expecting an agency’s revenue to grow is unrealistic. Instead, agencies should hire for where they want the business to be, rather than where it currently is, to push the business over that plateau.
Pumfrey explains, “If you hire to maintain, that’s exactly what you’ll do — [maintain]. Hire as many qualified candidates as you can, and that’s when you will be able to grow.”
A revenue plateau signals that it may be time to think outside of the box and get creative. Below are some ideas to increase your caregiver census: