Compensation & Benefits: Tools, Research, and Resources
Posted on November 10, 2022 by Anna Mowry
Each month, our national partner, LeadingAge, focuses on a new workforce topic to share tools, articles, and research to help providers take action in their workforce efforts. This month’s focus was on Compensation and Benefits.
Learn more about compensation and benefits trends and tools by exploring the resources below:
- Bonus Program, Recruitment, and Retention Efforts Support Frontline Workers: Learn from a member implementing a two-year bonus program to recruit and retain frontline staff. Based on feedback from their team members, this organization is working to build a robust package of incentives.
- Biggest Book of Perks for Senior Care: Celebrate and support your staff through easy-to-implement “perks” that aim to promote financial wellness, encourage healthy lifestyles, and bring teams together. OnShift released an updated list of over 50 ideas on non-wage benefits organizations can provide to staff.
- Some Direct Care Wages Are Increasing. Is It Enough?: Review recent research from PHI on direct care wage trends across the country, the pandemic’s impact on wages, and the continued need for increased reimbursement and transformational wage growth.
- OnShift Wallet: Many aging services providers are exploring new benefits and payment models for the staff. OnShift Wallet can help ease paycheck stress by providing instant access to earned wages.
- The Benefits Cliff Tool from the Federal Reserve: Explore how workers and employers can better understand how wages and raises impact public benefits. “Benefits cliffs” or “the cliff effect” refer to the sudden and often unexpected decrease in public benefits that can occur with a slight increase in earnings. The Federal Reserve Bank of Atlanta has developed four tools to explain how benefits change with income gains.
Stay tuned next month for more resources!