Unlocking Growth: Scaleable Recruiting & Retention Pt. 2

In this episode of the Hire to Thrive podcast, Rachel Gartner discusses the importance of having a scalable recruiting and retention process for home care agencies. She emphasizes the need to understand the financial value of each caregiver hire and set agency growth goals based on average hours worked per hire. Rachel also highlights the importance of using metrics as levers to track progress and make data-driven decisions. She provides insights on how to scale retention by implementing effective communication strategies, meeting caregivers' needs, and building future leaders within the agency. Rachel concludes by discussing the downward spiral that many home care agencies face and how investing in the recruiting pipeline can switch the trajectory to an upward spiral.

Key Takeaways:

1. Understand the financial value of each caregiver hire by knowing average retention, hours worked, and profit margins per hour.
2. Set agency growth goals based on current growth objectives and average hours worked per hire.
3. Use metrics as levers to track progress and make data-driven decisions for scalable growth.
4. Implement effective communication strategies to improve retention, such as regular check-ins and addressing caregivers' needs.
5. Build future leaders within the agency by providing career paths, training, and support.
6. Invest time, effort, and money into the recruiting pipeline to switch from a downward spiral to an upward spiral.

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Chapters

• 0:00 Introduction to the podcast and its mission.
• 1:04 Importance of understanding caregiver value and setting growth goals.
• 3:17 Using metrics as levers for scalability.
• 5:12 Basic retention metrics and strategies for scalable retention.
• 8:19 Building future leaders within the agency.
• 9:43 Addressing the cost of retention strategies.
• 10:10 Explaining the downward spiral that many agencies face.
• 11:30 Sharing success stories and emphasizing that change is possible.
• 12:13 Agencies growing by investing in recruiting pipeline and referrals.
• 13:15 Ways to invest in the recruiting pipeline.
• 14:12 Changing trajectory from downward to upward cycle.
• 14:59 Recruiting is a funnel, improving conversion percentages can change outcome.