The Economy’s Effect on Home Care – Blog Poll Results

Stephen Tweed | June 12, 2009 | Newsroom
Our May blog poll question was "Has the slow economy affected your business?" We asked about turnover, revenue, admissions, expenses and profits.You responded, 54 of you to be exact, and here's what you told us.Overwhelmingly (64%) turnover is down, compared with only 11% that saw a rise in turnover. This makes sense in a slow…

Our May blog poll question was “Has the slow economy affected your business?” We asked about turnover, revenue, admissions, expenses and profits.

You responded, 54 of you to be exact, and here’s what you told us.

Overwhelmingly (64%) turnover is down, compared with only 11% that saw a rise in turnover. This makes sense in a slow economy. People are less likely to leave a job without another one lined up, and families know that spouses’ jobs may also not be secure.

The remaining results were mixed. Revenues and profits were down for slightly less than half of you. Overhead expenses were up for 35% of you. 55% reported fewer clients admissions.

The economy hasn’t been overly friendly to the home care industry, according to these numbers, but compared to most other industries in many national averages our sector is still growing faster than the economy.

Keep working. The economy inevitably will turn around. When it does, top companies will be poised for greater success.

Stephen Tweed
Stephen Tweed is among the top Thought Leaders in Home Care today. As an industry researcher, author, and executive coach, he has worked with owners and CEOs of companies in the top 5% of Home Care and is a frequent speaker at Home Care association conferences and corporate meetings across the US and Canada.

Related Posts

Future of Home Care 2025

November 5, 2024
What are the factors that are affecting the future of Home Care?Many of you were helpful last year as we launched the Future of Home Care 2024 Industry Survey. Well, we're back again with an updated survey. Things are changing rapidly in Home Care, and last year's report was so well received, that we decided…

Extraordinary Transformation: A blueprint for leaders who want to Transform their Organization

June 5, 2024
By Stephen TweedAs a leader in Home Care, are you working on transforming your organization?Are you looking for strategies and insights to grow your business and get ready for the future?I've just finished reading an amazing book by my friend and professional speaking colleague, Dr. Nido Qubein. "Extraordinary Transformation: An Entrepreneurial Blueprint for Leaders Who…

Stephen Tweed’s Podcast and Webinar Appearances

May 30, 2024
As a significant Thought Leader in the Home Care industry, Stephen Tweed is frequently invited to be a guest on industry podcasts and webinars. Here are links to some of Stephen's recent appearances.July 2024 - The Caregivers Toolbox with Ryan McEniff - What Consumers, Caregivers, and Referral Partners want from Home Care. Ryan McEniff is…