The home health care industry is booming and according to the Bureau of Labor Statistics, approximately 1.3 million additional jobs within the home healthcare field will be added through 2020. In fact, they report that those working in home healthcare positions will see a 69 percent growth through 2020. One reason why the home healthcare industry is seeing such accelerated growth is the increase in demand of home healthcare services and facilities. As millions of people reaching an age where they will need some sort of home healthcare. Thus, increasing the expanse of the industry.
The WOTC can be a very lucrative program for employers within the home healthcare industry due to the nature of the industry. With workers such as certified nursing assistants, housekeeping staff, and janitorial staff typically earning minimum wage or slightly more, the likelihood of these individuals qualifying for the WOTC is 40 percent higher than all other industries. Turnover rate in the home healthcare industry is typically higher than most industries as well. The WOTC program is great for industries that experience high turnover because there is no limit to the number of individuals an employer can hire in order to qualify to claim the credit.
With the rising demand of job creation in the home healthcare industry, employment-based tax saving programs like the WOTC can bring positive cash flow to a business in the form of a tax credit, just by doing something they do every day. Hiring employees.
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