Industries are always changing as our population and available resources evolve. When it comes to senior health care, demand for qualified labor is increasing, which means that employees are starting to see more and more benefits. These are a few of the reasons why wages in this industry are on the rise.
We Are Beginning to See the Silver Wave
As more Baby Boomers are reaching their golden years, retiring, and dealing with the effects of aging, the more health services are being sought out. Many senior care facilities are starting to exceed capacity and having to expand their teams in order to accommodate their growing number of patients and residents. Many more individuals are opting for assistance in their own home, including both live-in or part-time help. Since most families now have two earners, there is less likely to be a family member at home who is able to fill this role.
The bottom line is that the demand for qualified and experienced caregivers is at an all-time high – both in the public and private sectors. Demand for help is currently outpacing the supply of talent, which serves to benefit those working in the industry. In order to entice potential employees, companies and families are more likely to offer higher wages, signing bonuses, and other desirable benefits.
Union Efforts Are Slowly Paying Off
You may remember a few years ago when health care unions across the country were demanding higher wages – and “The Fight for 15” has seen some real results since. In the past couple years, a number of states have passed laws phasing in a higher minimum wage or an equivalent based on inflation rates. Workers have also seen additional union protections, like overtime and vacation time.
Technology Continues to Change the Game
There seems to be an ongoing trend across essentially all industries: technology is changing everything. This is certainly true within the senior care industry. And while there is some degree of automation, the majority of roles and tasks still require a human being. Instead of taking away jobs – which technology is doing in many industries – technology is contributing to the development of jobs.
New types of equipment are being created that can help increase the quality of care for patients. These are tools and systems that need to be manned and regulated, so knowledge in this area can be very valuable and result in higher wages.
Considering a Career Change?
If you are currently considering a career change, it makes a lot of sense to look into senior caregiving. There is great job security, particularly when you consider our aging population. There is also a low barrier to entry, and many skills can be learned on the job. What was once a relatively low-paying position is starting to look better and better.