---
title: Smarter compensation solutions for senior care providers | Keep Financial
description: There's a smarter way to recruit, retain, and incent your caregivers. Learn more about strategic, ROI-driven compensation solutions from Keep.
image: https://keepfinancial.com/hubfs/KeepSolutions_SeniorCare.png
---
NEW!
[**Blog: How Do You Build An Employee Flywheel?**](https://keepfinancial.com/blog/the-employee-flywheel-how-to-build-business-momentum-by-hiring-and-retaining-the-right-talent)
- Why Keep?
Why Keep
- Employers
- [How it Works](https://keepfinancial.com/how-it-works)
- [Keep Benefits](https://keepfinancial.com/benefits)
- [Product Features](https://keepfinancial.com/features)
- Employees
- [Flexible Compensation](https://keepfinancial.com/employee)
- [Using a Keep Bonus](https://keepfinancial.com/blog/top-5-ways-to-leverage-your-keep-bonus)
- Solutions
[Solutions](https://keepfinancial.com/solutions)
- By Use Case
- [Signing Bonus](https://keepfinancial.com/signing-bonuses)
- [Poaching Defense](https://keepfinancial.com/employee-poaching)
- [Annual Bonus](https://keepfinancial.com/annual-bonus)
- [Equity Alternative](https://keepfinancial.com/beyond-equity)
- [Spot Bonus](https://keepfinancial.com/spot-bonuses)
- [M&A](https://keepfinancial.com/ma)
- [Performance Bonus](https://keepfinancial.com/performance-rewards)
- [Tuition Reimbursement](https://keepfinancial.com/tuition-reimbursement)
- [Smarter Severance](https://keepfinancial.com/smarter-severance-that-works)
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- [Senior Care](https://keepfinancial.com/senior-care-services)
- By Role
- [Compensation + Total Rewards](https://keepfinancial.com/compensation-total-rewards-solutions)
- [Human Resources](https://keepfinancial.com/human-resources-solutions)
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- [Executive Leadership](https://keepfinancial.com/executive-leadership-compensation-solutions)
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- Resources
[Resources](https://keepfinancial.com/resource-library)
- - [Blog](https://keepfinancial.com/blog)
- [Help Center](https://docs.keepfinancial.com/knowledge)
- [Partner Program](https://keepfinancial.com/referral-partner-program)
- [Resource Library](https://keepfinancial.com/resource-library)
- [Integrations](https://keepfinancial.com/integrations)
- Topics
- [Retention](https://keepfinancial.com/employee-retention-and-strategies)
- [Bonuses](https://keepfinancial.com/employee-bonus-structures)
- [Compensation](https://keepfinancial.com/employee-compensation)
- [Engagement](https://keepfinancial.com/employee-engagement)
- [Forgivable Loans](https://keepfinancial.com/smarter-employee-forgivable-loans)
- About Us
[About Us](https://keepfinancial.com/about-us)
- - [About Us](https://keepfinancial.com/about-us)
- [Founding Story](https://keepfinancial.com/our-founding-story)
- [Press Room](https://keepfinancial.com/press-room)
- [Press Kit](https://keepfinancial.com/press-room#press-kit)
[Demo](https://keepfinancial.com/request-a-demo)
[Sign Up / Log In](https://app.keepfinancial.com/sign-in)
- Why Keep?
Why Keep
- Employers
- [How it Works](https://keepfinancial.com/how-it-works)
- [Keep Benefits](https://keepfinancial.com/benefits)
- [Product Features](https://keepfinancial.com/features)
- Employees
- [Flexible Compensation](https://keepfinancial.com/employee)
- [Using a Keep Bonus](https://keepfinancial.com/blog/top-5-ways-to-leverage-your-keep-bonus)
- Solutions
[Solutions](https://keepfinancial.com/solutions)
- By Use Case
- [Signing Bonus](https://keepfinancial.com/signing-bonuses)
- [Poaching Defense](https://keepfinancial.com/employee-poaching)
- [Annual Bonus](https://keepfinancial.com/annual-bonus)
- [Equity Alternative](https://keepfinancial.com/beyond-equity)
- [Spot Bonus](https://keepfinancial.com/spot-bonuses)
- [M&A](https://keepfinancial.com/ma)
- [Performance Bonus](https://keepfinancial.com/performance-rewards)
- [Tuition Reimbursement](https://keepfinancial.com/tuition-reimbursement)
- [Smarter Severance](https://keepfinancial.com/smarter-severance-that-works)
- By Industry
- [Healthcare](https://keepfinancial.com/healthcare)
- [Construction](https://keepfinancial.com/construction)
- [Logistics + Transportation](https://keepfinancial.com/logistics-transportation)
- [Technology](https://keepfinancial.com/technology)
- [Retail](https://keepfinancial.com/retail)
- [Hospitality](https://keepfinancial.com/hospitality)
- [Manufacturing](https://keepfinancial.com/manufacturing)
- [Automotive](https://keepfinancial.com/auto)
- [Education](https://keepfinancial.com/education)
- [Senior Care](https://keepfinancial.com/senior-care-services)
- By Role
- [Compensation + Total Rewards](https://keepfinancial.com/compensation-total-rewards-solutions)
- [Human Resources](https://keepfinancial.com/human-resources-solutions)
- [Finance Leaders](https://keepfinancial.com/finance-leader-solutions)
- [Executive Leadership](https://keepfinancial.com/executive-leadership-compensation-solutions)
- [Legal Leaders](https://keepfinancial.com/legal-leader-solutions)
- Resources
[Resources](https://keepfinancial.com/resource-library)
- - [Blog](https://keepfinancial.com/blog)
- [Help Center](https://docs.keepfinancial.com/knowledge)
- [Partner Program](https://keepfinancial.com/referral-partner-program)
- [Resource Library](https://keepfinancial.com/resource-library)
- [Integrations](https://keepfinancial.com/integrations)
- Topics
- [Retention](https://keepfinancial.com/employee-retention-and-strategies)
- [Bonuses](https://keepfinancial.com/employee-bonus-structures)
- [Compensation](https://keepfinancial.com/employee-compensation)
- [Engagement](https://keepfinancial.com/employee-engagement)
- [Forgivable Loans](https://keepfinancial.com/smarter-employee-forgivable-loans)
- About Us
[About Us](https://keepfinancial.com/about-us)
- - [About Us](https://keepfinancial.com/about-us)
- [Founding Story](https://keepfinancial.com/our-founding-story)
- [Press Room](https://keepfinancial.com/press-room)
- [Press Kit](https://keepfinancial.com/press-room#press-kit)
[Demo](https://keepfinancial.com/request-a-demo)
[Sign Up / Log In](https://app.keepfinancial.com/sign-in)
##### Senior Care Services
# Deliver exceptional care, reward, and retain caregivers with smarter compensation.
Traditional signing and retention bonuses aren’t working to attract and retain your top talent, but they could. With Keep, expect 4X the results of your current practices.
[Book a Demo](https://keepfinancial.com/senior-care-services#SeniorCareForm)
##### The challenge
## Traditional compensation is no longer attracting and retaining talent
Ensuring proper training and ongoing professional development for caregivers is essential for providing high-quality care. However, there can be challenges in providing comprehensive training and career advancement opportunities due to resource limitations and time constraints.
With 81% of home care agencies reporting difficulty recruiting and retaining qualified caregivers, it's time for a smarter approach to recruiting, motivating, and retaining caregivers.
#### High Turnover
A study published in The Gerontologist journal found an average annual turnover rate of approximately 64% for certified nursing assistants (CNAs) in nursing homes.
The National Association for Home Care & Hospice (NAHC) found that 81% of home care agencies reported difficulty recruiting and retaining qualified caregivers.
#### Low Quality
The aging population and increased demand for senior care services place additional pressure on the workforce.
According to the U.S. Census Bureau, the number of Americans aged 65 and older is projected to nearly double from 52 million in 2018 to 95 million by 2060, leading to a greater need for qualified care providers.
#### Labor Shortage
The U.S. Bureau of Labor Statistics projected that the home healthcare services sector would be one of the fastest-growing industries in terms of employment, with a projected growth rate of 34% from 2019 to 2029.
Despite this growth, the senior care services industry continues to face a significant shortage of skilled workers. A report by PHI, a research and consulting organization, projected a shortage of 4.3 million direct care workers by 2030.
## Traditional retention-based compensation creates administrative headaches and unnecessary expense
#### Collections
Clawbacks are expensive to enforce and many end up unenforceable.
#### Tax Complexities
Paying taxes up front leads to countless hours wasted on preventable W2 corrections.
#### Manual Tracking
Many track sign-on and retention bonuses manually, making automation and scalable edits difficult.
#### PHI projects a shortage of 4.3 million direct care workers by 2030.
PHI
##### The solution
## Custom, scalable sign-on and retention bonuses
**Keep Financial gives you a flexible compensation platform to offer, send, and manage your sign-on, retention, and performance-based bonuses.** With Keep, you can improve your recruiting, retention, and performance through a fully digital, automated platform to deliver upfront compensation earned over time.
#### Automate compensation
A fully automated system to deliver upfront compensation tied to **time-based and performance-based vesting**
#### Track milestones
Enable employees and employers to track & celebrate milestones
#### Improve finances
Improve providers’ credit and help remove their financial roadblocks
#### Flexible and modifiable
Include flexible components like performance challenges, easily modify arrangements
#### Optimize cash flow
Optimize cash flow & AR management, defer taxes & automate collections
#### Reduce manual effort
Save time and money by automating manual tasks like bonus tracking, clawbacks, W2 corrections, and more.
## Keep Financial features
- Turn-key product and no IT support required
- Bonus dashboard with employer and employee views
- Employee self-service portal to view milestones and withdraw bonus
- Governance and compliance built-in
- Finance-friendly, with robust auditing and reconciliation features
### “Keep has been an important tool in our employee retention program at Bestow, and we’re eager to utilize Keep Performing to better align performance objectives with significant compensation events.”
#### Claire Martin | CFO at Bestow Inc.
## See Keep in action.
- [info@keepfinancial.com](mailto:info@keepfinancial.com)
- [Blog](https://keepfinancial.com/blog)
- [Solutions](https://keepfinancial.com/solutions)
- [Help Center](https://docs.keepfinancial.com/knowledge)
- [Contact Us](https://keepfinancial.com/contact-sales)
- [Resource Library](https://keepfinancial.com/resource-library)
- [About Keep Financial](https://keepfinancial.com/about-us)
[Get Started](https://app.keepfinancial.com/sign-in)
[Request a Demo](https://keepfinancial.com/request-a-demo)
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