The 45th annual Nursing Home Salary and Benefits Report finds a major increase in staff turnover year to year, the national average for registered nurses, licensed practical nurses, and certified nursing assistants at almost 40%.
Brian Levy is Director of Business development with Cambridge Caregivers in the Dallas area and says the field is going to grow and the need for staff will explode as the Silver Tsunami of Baby Boomers approaches.
“If you’re looking for a career change, go into health care. Elder care is the most gratifying and lucrative job you can ever have,” he tells KTRH News.
The pandemic brought special strains to an already strained industry.
Every day another 10,000 people turn 65 with declining birth rates.
400,000 nursing home and assisted living staff has left the field since January of 2020.
The need for home health and personal health caregivers is expected to grow 33% in the next decade.
The percentage of people over age 85 – the group that needs the care – will double to 14 million by 2040.
The reasons for high staff turnover are varied, with many complaining of low pay, stressful jobs, and minimal benefits.
Levy says a lot of corporate nursing home facilities can’t afford to pay a PTO, 401K match, gas stipends or higher pay. The real need, he says, is for in-home care. Most people prefer to age in their homes but need a level of assistance that increases with each passing year.
Levy’s Manchester Living Podcast offers insight for families trying to navigate the challenges of caring for an aging community.