Today we are super excited to launch the redesigned CareSwitch home page, shifting our focus to help home care agencies hire, pay, and grow their teams with an all-in-one solution.
About 11,000 people turn 65 every single day so it's no surprise that the home care market is one of the fastest growing. Unfortunately the supply of caregivers has at best struggled to keep up with this tremendous demand. Intra-agency turnover sets industry records at 70% as aides switch jobs for the slightest pay differences, and many leave the industry entirely to work as cashiers or warehouse fulfillment workers.
We believe the home care industry's endemic struggle to attract and retain its employees comes down to the fact that these caregivers are doing some of the most important and yet least recognized and compensated work in the shadows of our society. Many work for minimum wage and most don't even qualify to receive benefits such as health insurance—these are table stakes for the W-2 labor force at large.
Our goal is to provide home care agencies with recruiting, payroll, HR, and compliance tools so they can attract caregivers as first-class W-2 employees and ultimately provide better care. By 2050, the population of adults over the age of 65 is expected to almost double, growing from 48 million to 88 million. We think it's about time to start caring for those who care.
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