Top 3 Predictors for Turnover and What Leaders Can Do About It

The data and stories behind why employees leave

Employees leaving your community are costly, plain and simple.  

On average it costs a company 6 to 9 months of an employee’s salary to replace them, according to The Society for Human Resource Management (SHRM).   

Where are we currently in the senior living industry? A new survey by NIC found that severe staffing shortages in the senior living industry are down 8%, however reporting on moderate staffing shortages are up 6% from the last survey.  

More than a quarter of respondents said more than 20% of their community positions remain unfilled.  

Replacing caregivers is costly, and it’s still one of the highest concerns in our industry. So, what are the top 3 predictors for turnover, and how can your organization get ahead of it?  

1.More than 1 and 4 people quit their job because of mental health issues.  

JobSage conducted a poll of more than 2,000 working Americans and found that 28 percent of respondents left a job in the past two years because of their mental health.  

Mental health is a key predictor to whether an employee stays or leaves a company. What is the mental toll on your caregivers and community level leaders? Not only do they deal with day-to-day stress of operations, operating multiple complex software systems and physical acts of care work, but there’s an emotional toll that comes with caring for others.  

Key findings from the JobSage study include:  

  • 2 in 5 employees said work had the worst impact on their mental health, second to finances (42%)  
  • 1 and 4 employees won’t discuss mental health at work.  
  • 47% of respondents want their company to commit to a healthy work-life balance  
  • 42% want more time off 
  • 41% want great flexibility with their schedule  

Ideas for better mental health at work:  

  • Encourage employees to take mental health days.  
  • Offer health insurance plans that cover mental health services and make sure your employees know about it.  
  • Offer flexibility in scheduling. 

2. Inflation makes a small paycheck smaller.

In a recent article by CNBC, Andrew Flowers, labor economist at Appcast and research director at Recruitonomics said that inflation is a predictor for a high quit rate.  

Flowers indicated in the article that workers who aren’t offered a pay raise may go somewhere else to keep up with the cost of living.   

In a thread on reddit asking what jobs deserve higher pay, a caregiver shared their experience saying,  

“I did a brief stint as a CNA in a nursing home. 12 patients who all need baths, help dressed, taken to activities, taken for lunch, multiple “depends” changed a day…The average pay for CNAs near me has gone up, but honestly not by enough.”  

Another said, “CNA/Med Aide here since 2017, Target next door and McDonald’s down the street are both hiring for more than I make right now.”  

One more: “This was my #1 choice. If we want good people to take care of our parents and grandparents properly in their final days we need to pay them properly. It’s an important job that doesn’t get nearly enough respect.”  

Ideas to combat cost of living:  

  • Increase your wages. 
  • Offer competitive benefits for your caregivers.   

3. Caregivers are burnt out and are ready for a change.  

A new article by Forbes said few industries have been hit harder than healthcare during the Great Resignation. A report by Health Leaders found the industry has lost an estimated 20% of its workforce, including 30% of nurses.  

Read this story by one of the caregivers in the Forbes article:  

“Lack of work-life balance caused Jill Bowen, 45, to quit her job as a director of physical therapy in the home health industry. Her productivity was measured by the number of visits completed with no credit for all the time she had to spend on phone calls, documentation, and scheduling. 

“Payment, regulations, and all the red tape is the most stressful part of the job,” Bowen said. “When an agency is driven by profitability, marketing promises or non-compliant provider demands, clinicians are pressed to comply, and patient care suffers.” 

Ideas to combat burnout:  

  • Know your staff to resident ratio and consider how that’s causing burnout.  
  • Survey your software systems and the amount of time caregivers are spending on operations.  

Nearly 1.7 million people quit their healthcare jobs last year, which is equal to about 3% of the healthcare workforce each month according to The U.S. Bureau of Labor Statistics 

It’s time to rethink why our employees want to stay with us, and what they really want when it comes to their jobs.  

Happy Holidays

Answering inquiries for your community is what our Family Advocate Managers (FAM team) love doing, even on most holidays. Thanksgiving and Christmas Day are the only two days we close up shop. We believe all of our team members deserve time with their families. By the next morning, FAM is right back at it to follow up on any inquiries that may have come in the day before.

What about all those other holidays? Rest assured SeniorVu has your time zone covered from 9:00 a.m. to 4:00 p.m. on each of the following holidays:

Black Friday
Christmas Eve
New Year’s Eve & Day
Martin Luther King Day
President’s Day

Memorial Day
Independence Day
Labor Day
Veteran’s Day

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