Executive Update with Margaret Haynes CEO | 12.17.24
Duration: 28m 50s
Description:
In this Right at Home Tuesday Talk, Jen Chaney, CFE, VP of Franchise Development speaks with Margaret Haynes, President & CEO. Margaret has been with Right at Home for almost 14 years. In this Q&A discussion, they cover topics such as 2024 highlights, industry growth, quality care, caregiver retention, and future trends for 2025.
Highlights of 2024
Margaret reflects on a very successful 2024, celebrating franchise owners recognized as Caring Star winners for their quality-driven care services. She notes the significance of surpassing 450,000 hours of care/wk in May, which signifies Right at Home’s impact in providing meaningful care, and exceeding the goal of opening new territories and expanding the footprint.
Industry Growth and Competitiveness
Despite the challenges of the COVID-19 pandemic, Right at Home has set a rally cry to reach 450,000 hours of care in a single week, which set new benchmarks for the future. The industry’s overall growth and expansion included opening 36 new territories, surpassing the goal of 24. Margaret emphasized the importance of continuing to be the best brand and home care company in the industry. Factors contributing to the increase in hours were attributed to becoming an employer of choice in local markets, sharing best practices, new caregiver engagement. Right at Home believes in creating a positive work culture and maintaining strong relationships with caregivers, ensuring Right at Home will be their preferred workplace.
Looking Ahead to 2025
When asked about her excitement for the upcoming year, Margaret is enthused about the home care industry and the Right at Home system. As chair of the board for the HCAOA, she is excited about the Elizabeth Dole Act, which ensures veterans receive the same level of resources and funding for home care as they would in a facility. This legislative change is a significant win for the industry and for veterans.
Future Trends and AI Integration
Margaret acknowledges the need for more caregivers in 2025, but points to Right at Home’s efforts to be the employer of choice to meet this demand. She also sees AI technology as having a substantial impact on health care, especially at the franchising level. She anticipates AI will help manage operating expenses while maintaining growth, become integrated into operating software, and aid in caregiver matching and engagement. Right at Home is also rolling out a CRM solution with AI capabilities to improve client and caregiver interactions. At the corporate level, AI is being used to extract data efficiently, helping franchise owners stay informed about their business.
Advice for Prospective Franchisees
When asked to provide advice to those interested in the Right at Home system, Margaret emphasized the importance of staying engaged with the Franchise Development Directors and asking questions. Prospects should consider the relationship and culture they want with their franchisor. They should have a passion for the industry and confidence in the business model. She added that Right at Home values a successful and long-term relationship with franchisees, and wants to ensure they are well-prepared and supported. Right at Home approves approximately 25-30 new franchise owners annually.
Is Home Care Experience Necessary?
Many Right at Home franchise owners have joined the system without prior experience in home care or business ownership. Right at Home has 25 years of franchising experience and 30 years in the industry, and provides robust support and resources to new franchisees. The network is designed to help owners succeed by leveraging their past experiences and providing the necessary tools and training. Right at Home is committed to supporting franchisees with expertise, systems, and best practices throughout their journey.
Final Thoughts
Margaret noted that even if you haven’t owned a business or worked for a big corporation, Right at Home has the processes in place to help you be successful and understand home care out of the gate. That is the beauty of joining a franchise network. She adds, “We want to hold your hand until years and years down the road.” Many of our long-term owners have created a legacy company by taking the asset they have built and passing it down generationally, or resell it, continuing the quality care needed in that community.
NEXT SCHEDULED TALK:
January 28 – 2 pm CST
Register here:
Caregiver Recruitment and Retention with Nikki Holles, VP of People Strategy, and Jen Chaney, VP of Franchise Development
Watch the previous Interview with Margaret Haynes
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