Executive Update with Right at Home – Margaret Haynes CEO
Duration: 30m 02s
Description:
Margaret Haynes, President & CEO, and Jen Chaney, VP of Franchise Development, discuss the integration of technology and innovation in the home care industry, the demand-supply gap of caregivers, and enhancing operational efficiency. They share valuable insights on succeeding in the Right at Home franchise system, emphasizing the importance of immersing oneself in the network, asking questions, and growing the business. They stressed the importance of having a growth mindset and continually learning and growing.
Status Update
Margaret Haynes provides a mid-year update on Right at Home’s progress, noting the importance of reaching 450,000 service hours in a single week in the US. She talks about the growth of the brand and the impact those service hours have on the mission statement and the lives of clients, caregivers, and families.
Technology, Innovation & AI in the Future of Home Care
Technology, innovation, and AI are top of mind, front and center, at all upcoming conferences. Margaret comments that at the conferences, they are talking about how important technology is to drive efficiency within operations but also to help support clients in their homes. At Right at Home, we are spending time as a brand thinking about how we leverage what’s coming with AI, understand it, and use it responsibly in a way our franchise network can leverage it. Two years ago, Right at Home established a team to think about innovation around the business model. We want to figure out how we can leverage technology in the best way to drive the outcomes and ultimately continue to help franchisees live out their mission.
What Does a Really Thriving Franchisee Look Like?
New franchisees are advised to immerse themselves into the network and learn best practices from other experienced owners. Margaret notes that being engaged and taking advantage of the resources provided by the franchise can lead to a successful business. Attend weekly webinars and subject matter expert sessions. Franchisees can also learn from each other and grow their businesses through shared experience and curiosity.
What Opportunities are Available to Become Engaged?
Within the company, franchisees can engage through weekly updates, annual meetings, performance groups, and virtual calls. Margaret describes Takeoff Tuesdays, where Right at Home brings in a subject matter expert who shares information about increasing referral sources or increasing caregiver hires. They also showcase amazing franchise owners, some of who have had our best ideas. The Tuesday webinars are recorded. We also have a publication called Weekly Update. There are annual meetings, where the entire global network comes together and shares best practices. Performance Groups are another way where a group of 10-12 owners acts as a board of directors to each other, holding each other financially and operationally accountable. Twice a year the group will get together to work on their businesses. Right at Home provides you with the right processes, procedures, business insight, and coaching, but at the end of the day, it’s the owner who has to set the tone within their business.
How does Right at Home ensure the quality and reliability of its caregiving services across each location?
Right at Home provides franchise owners with training in the RightStart program, as well as access to resources available in the Hub, and assigns a business performance coach to work with each franchisee. Franchisees are provided additional training and resources to help execute brand standards and monitor performance. Right at Home works with franchisees so they are knowledgeable in how to hire caregivers and how to attract the right type of caregivers. Policies and procedures are available to help execute quality services.
What are the Brand Standards that Right at Home puts in the Forefront for all Franchisees and How Do You Monitor Them?
Margaret notes that individual franchise owners have business coaches who constantly engage with the franchisee about performance and key metrics, enacting corrective measures if required. They also visit offices within 3 months after the business opens.
What Are Some Great Questions to Ask During Validation?
Margaret hoped prospects are asking other owners about things that are top of mind such as, “How are you dealing with recruiting caregivers? Do you have a caregiver shortage? And what does that look like in your market? And what things have you done? And if you had to do it over again, is there anything that you would have done differently? Or what’s the one thing you didn’t know that you wish you would have known before?” Validation is a great opportunity to talk to anyone in the network. Margaret highlights the importance of her relationship as President of the Home Care Association of America (HCAOA), citing collaboration and advocacy as key assets.
NEXT SCHEDULED TALK:
July 16, 2024 at 2 pm CST
Register here:
Executive Update with Margaret Haynes, CEO and Jen Chaney, VP of Franchise Development
Previous Interview with Margaret Haynes
Executive Update with Margaret Haynes 5.30.24
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