Small Budget, Big Impact: Financial Wellness Programs for Senior Care Facilities

By Mrs. Shay Cook, CEO & Founder of Crusaders for Change, LLC (C4C) Accredited Financial Counselor® & Financial Fitness Coach®

In the demanding world of senior care facilities (SCFs), your staff are the heart of your operation. Their dedication, empathy, and hard work are what make a difference in the lives of your residents. Yet, behind the scenes, many of these compassionate professionals—from CNAs to caregivers and LPNs to administrative staff—are silently battling a challenge that affects their well-being and the quality of care they provide: financial stress. The skilled nursing industry employs about 1.7 million people nationwide, including over 536,000 in healthcare support positions and nearly 360,000 in practitioner and technical roles. Yet despite its size, the field faces a staggering challenge—an average turnover rate of 82%, according to the 2025 Skilled Nursing Workforce report.

For years, senior care administrators and assisted living communities have believed that comprehensive employee wellness programs are a luxury reserved for large corporations. The common thought is, "We simply can't afford this kind of benefit."

But what if we told you that ignoring employee financial stress is actually costing your facility more in the long run?

The "Silent Tax" of Financial Stress

Your staff’s financial stress is a hidden cost we call the "Silent Tax"—and it's directly impacting your facility's bottom line. The costs are not a line item on your budget sheet, but you see the results every day. This type of financial stress fuels lower productivity, higher absenteeism, and costly turnover. Certified nursing assistants and other direct caregivers represent nearly 39% of the skilled nursing facility workforce, yet more than one in three (34%) rely on public assistance to make ends meet, according to the report. And it’s not just CNAs who are affected. The 2025 Skilled Nursing Workforce report also found that there is a 43% turnover rate for nursing home administrators. This is a critical issue for senior care providers and long-term care businesses where margins are tight and employee retention is a constant challenge.

The costs of this "silent tax" include:

• High Staff Turnover: The senior care industry already faces significant turnover rates. When hourly workers and low-wage employees are living paycheck to paycheck, they are more likely to seek higher-paying jobs, even if they love their residents. This forces you to spend valuable time and resources on constant recruiting, hiring, and training new staff. The cost of hiring an employee goes far beyond just their salary and benefits; it includes the extensive expense of recruiting, onboarding, and training. Companies spent an estimated $98 billion on training alone in 2023–2024, and it can take up to six months or more for a company to break even on its investment in a new hire as they gradually get up to speed. This cycle of financial stress leading to turnover creates a heavy, measurable burden on your budget.

• Increased Absenteeism: An employee distracted by a looming bill or a car repair they can't afford is more likely to call out unexpectedly. This leaves you scrambling to find coverage, disrupts continuity of  care, and puts additional pressure on the rest of your team. The cost of this absenteeism, which accounts for around 10.5% of employee burnout costs, directly impacts your operational efficiency  and service quality.

• Reduced Engagement and Focus: An employee stressed about money isn't fully present. This "presenteeism" means they may be at work, but their mind is elsewhere, potentially impacting their focus and increasing the risk of errors in caregiving. This form of disengagement is an even greater financial drain; according to a Fortune study, 89.5% of employee burnout costs are due to presenteeism, where employees show up to work but fail to be productive. The mental bandwidth they should be dedicating to their work is instead spent on anxiety-driven calculations and worries.

The Solution: Affordable, Scalable Employee Financial Wellness Programs

At Crusaders for Change® (C4C), we understand the unique operational and budgetary challenges of senior care facilities. We know that every dollar counts. That's why we’ve created a financial wellness program specifically designed to be affordable and scalable for small teams and tight budgets.

We don't believe in a one-size-fits-all, expensive corporate package. Instead, our financial wellness benefits offer a flexible approach that delivers big impact through small, strategic investments:

• Targeted Financial Education: Our engaging workshops and webinars are tailored to the specific financial needs of your caregiver and support staff, covering topics like budgeting, debt management, and building an emergency savings plan.

• Accessible Resources: We provide easy-to-use digital tools, calculators, and downloadable guides that your employees can access anytime, anywhere—perfect for a staff with varying shifts.

• Confidential Financial Counseling: We offer unbiased, one-on-one financial counseling , providing a safe space for employees to get personalized support without any pressure to buy financial products.

A Small Investment for a Big Return

By partnering with Crusaders for Change, you're not just adding a benefit; you're making a strategic investment in the well-being of your staff and the health of your business. When your employees have the financial confidence to manage their lives, they are more present, more engaged, and more focused on providing the compassionate care your residents deserve.

A small, affordable investment in employee financial education & counseling can lead to a significant return in the form of:

• Higher Employee Retention: Your staff feels valued and supported, reducing turnover and building a more stable team.

• Improved Morale: Less financial stress translates to a happier, more positive work environment.

• Enhanced Resident Care: A focused and engaged team leads to better outcomes and a stronger reputation for your skilled nursing facility or assisted living community.

Don't let budget myths prevent you from addressing the "Silent Tax" of financial stress. Discover how a small investment in Crusaders for Change's financial wellness programs can make a big impact on your team and your bottom line.

Contact us today for a free consultation to discuss a customized financial wellness plan that fits your budget and meets the needs of your dedicated staff.