In the this webinar, CEO, Aaron Marcum, discussed three growth strategies that are found in the 2017 Benchmarking Study. These growth strategies are based off three major pain points in the home care industry: Caregiver shortages, lack of clients, and growing competition. According to the 2017 Benchmarking Study, these areas are three out of five that home care providers identified as being the top threats for 2017. In the webinar, Aaron outlined, how to address these threats in order to grow your business.
1. Caregiver Shortages
Employee referrals are the best way to attract and refer caregivers. 21.6% of leaders in the industry use their current employees to refer friends through an employee referral program. Although an employee referral program may seem to be expensive to start up, it will repay you back ten fold with quality caregivers. Your caregivers are the best way to attract quality caregivers and should be used for strong referrals.
2. Lack of Clients
The more inquires you can get through the door, the more opportunities you will have for taking on new clients. When it comes to your inquires, the first thing you have to do is measure and track them. How can you follow up if you’re not tracking every inquiry? This is one way to Aaron discusses to help improve client numbers and close more deals.
3. Growing Competition
The response to growing competition is building your reputation online. According to the 2017 Study, consumers choose a home care provider based on recommendation by family and friends and reputation of company. These days of word-of-mouth is diminishing, while the use of online reviews is increasing. 88% of consumers trust online reviews as much as personal recommendation. This means that without a solid online presence, you could be hurting your home care business.
This webinar was highly attended with more than 200 attendees and high participation in the Q&A portion of our webinar. The average rating from attendee for this webinar was a 4.4 out of 5.
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This webinar is a valuable resource for all home care providers looking to improve their caregiver turnover rate and client referrals. These pain points are threats to the industry that home care providers will continue to encounter and should know how to overcome in order to see growth.
To learn more about how to overcome these three pain points, and how to use them to your advantage, tune in for our next CORE Webinar on May 17. Aaron Marcum will discuss in depth how to grow your home care business. Sign up for our monthly newsletter to be the first to know about our CORE Webinars.