Paycor surveyed HR and finance leaders in the long-term healthcare industry to find out what they’re thinking at the close of the year and how they’re planning for 2021.
Paycor delivers these insights to help you better understand what you need to do at this critical moment. Download this survey to learn about:
Part 1: Compliance
Long-term Care (LTC) Providers are 17% more concerned about compliance than other industries, with 77% saying they expect compliance to be more of a concern in 2021. However, a surprisingly large minority (39%) of LTC Providers don’t use HCM to mitigate risk. As we dug deeper, we found only 8% say their HR technology is “very effective” at mitigating compliance risk. It could be that the leaders of LTC organizations don’t realize how effective modern, sophisticated HCM technology can be at managing compliance.
Part 2: Mental Health in the Workplace
Mental health has become an even bigger issue at the end of the year, with 92% of LTC Providers saying they are concerned (that’s 7% more than other non-healthcare industries). Nearly 70% of LTC Providers say they’ll reevaluate their company’s benefits in 2021, and yet 44% aren’t sure if they’ll change their plan to address mental health. This suggests an education gap: LTC Providers are simply not aware of how a benefits plan can help them.
Part 3: People Management
Sixty-four percent of LTC leaders are concerned to see skilled nurses leave long-term care facilities to work in home healthcare. A third are very concerned their staff may contract the virus. The pandemic is putting pressure on LTC Providers, as facilities are stretched to the breaking point to deliver care, staff accordingly and prevent, or aggressively manage, outbreaks.