Wednesday, August 21, 2013

Fun Facts About Employment

Since we are into facts and data at Caregiver Quality Assurance® and Leading Home Care, we
thought you might like these fun facts about employment.
  • When 1,500 American workers were asked about being appreciated at work, 60 percent of those surveyed say “extra thank-yous” would make them more productive. 
  • Sixty-two percent of 436 respondents to a survey admit to checking work e-mail in the bathroom. 
  • According to new hiring research, the average cost of a mis-hire according to profession is as follows:
    Senior executive – 15 times their annual salary
    Mid-level manager – 10 times their annual salary
    Laboratory director – 7 times their annual salary
    Programmer – 4 times their annual salary
    Nurse – 2 times their annual salary  
  • When 1,500 U.S. employees were asked “If you care for a child or older loved one, what is the one adjustment you make to your work schedule most often?” they responded
    Make phone calls and/or arrangements during the workday – 24%
    Leave work early – 22%
    Take the day off – 16%
    Arrive late to work – 14%
    Ask spouse to adjust his/her schedule – 5% 
  • When 271 workers were asked: “What is the single most important program/benefit your employer could offer that would keep you working productively and happily as you get older?” the top 3 responses are:
    49% Flexible work schedule
    15% Health and wellness programs
    13% New training/learning opportunities 
  

Employer Health Care Premiums Rise 5% in 2013

What is your approach to meeting the employer mandate to provide health insurance for your employees?  This portion of the Patient Protection and Affordable Care Act takes effect in 2015, and requires employers with 50 or more FTEs to provide healthcare coverage. 

What will that cost you?

A recent study conducted by the Kaiser Family Foundation and the Health Research and Educational Trust
and reported in the Wall Street Journal shows that the cost of health insurance premiums for a single worker grew 5% from 2012 to 2013, from $5,615 per year to $5,884.  It also showed that workers contributions to premiums were 18% of the cost of single coverage. 

In another part of the study, 29% of large companies said they are considering shifting to a plan where they allot a set sum of money for each employee for health benefits, and the employee picks the coverage from a "private exchange."  The survey also shows that higher deductible plans are popular, with 38% selecting an annual plan with a $1,000 deductible.

What to do about health care reform?

What to do about health care reform continues to be one of the biggest challenges for owners of home health agencies, hospice, and private duty home care companies.  The 2013 Private Duty Benchmark Study from Home Care Pulse and HCAOA shows the following responses to how agency owners plan to deal with the employer mandate:
  • Provide required health insurance - 18.7%
  • Drop my health plan and pay penalty - 1.9%
  • Pay the penalty, never offer insurance - 9.4%
  • Have not decided - 52.6%
  • Keep employees to less than 30 hours - 19.9%
  • Operate with less than 50 FTE - 17.4%
  • Other ?? - 4.2%
As you can see, there's lots of uncertainty.  This survey was done in January and February 2013.  What's your answer today?  Since then, the implementation of the employer mandate has been moved back a year to 2015.  What are you planning to do about healthcare reform what it takes effect in January, 2015?

Behavior Styles Correlate with Sales Success

What selling style works best in home care & hospice sales? 

One of the biggest challenges facing leaders in home health care, hospice, and private duty home care is recruiting and selecting sales professionals who can hit the ground running and generate referrals that convert to admissions.  We have seen a particularly high incidence of companies hiring sales reps who fail to get results and are fired or quite after 90 days on the job. 

At Caregiver Quality Assurance®, we are continually looking for information and data that will help you do a better job of hiring the right sales people.  To get some insights, we often go outside the home care industry to see what we can learn from other companies.  Here's one example: 

A leading retailer of western apparel wanted to improve the productivity of its sales associates across its 8 store locations.  The company worked with a provider of pre-employment assessments to administer a basic skills test and a behavioral styles inventory to its existing sales force. The company then conducted a validation study comparing test scores to performance data provided by company management.  The study showed significant correlations between test performance and productivity as measured by average sales per hour data compiled by company management.

The study found that sales associates who scored high on the extroversion scale had higher sales per hour than those with lower extroversion scores. 

"Top-scorers on the extroversion scale averaged $106.35 sales per hour, which represented 28% higher productivity than was achieved by the lowest-scoring group, which averaged only $83.27 sales per hour."

What Do You Look for in a Home Care Sales Person?

From our experience and research, it is clear that the most effective predictor of success in sales is behavioral styles.  When the candidate has a natural style that is a good fit for the job, the likelihood that they will be successful goes up dramatically.  And the category of behavior that is most highly correlated to a good fit for the sales job is the extroversion scale.  

In the Caregiver Quality Assurance® pre-employment assessment, we measure behavioral styles, and the extroversion scale is bench-marked against the sales job.  As you can see in the graphic on the right, the green bar represents the job benchmark, and it is all the way to the right at the Outgoing Talker end of the scale.  The red bars on the left represent the Reserved Listener end of the scale. 

To get a sense of how well you would do in sales, you can take a complimentary sales assessment to see where your extroversion score ranks on the scale.  Once you see where you fit, you will see the value of using a tool like this to help you in the selection of your next sales professional.

To get your FREE CQA Sales Assessment demonstration, pick up the phone and call Diane West at 502-339-2132 or go to www.caregiverquality.com.