Dental Consulting: Dental Staff Compensation
A common problem with dental teams is staff compensation. The reason for this is because dentists often disregard it which frustrates the team. Want to know why your practice has such an overhead? Staff salaries. The best way to handle this issue is to discuss it within your practice and not keep the topic taboo. The result? A friendlier and trusting work environment for your entire team.
From a dentist position, you may have some concerns which is completely understandable. We’re here to discuss what the other side may have to say about your concerns.
You may be searching for a great team of employees to grow your practice but can’t seem to attract and hire good staff. The truth is that good employees are never just found, they are created through the work environment and how well you make them comfortable. The best work environment you can create is one that you hire, train, trust, and praise your employees. When your employees are confident and respected, they will have your practice presenting a favorable image which will bring in the young and energetic employees you are looking for.
Work Ethics & Salary
The millennials who have joined the work force have changed the mentality of employees rather than the work ethic. A few decades ago the workforce was appreciative of whatever you gave them. Today, however, workers are more open about their needs and expectations. If you compensate well, you will see the dedication that you are looking for.
Salary & Benefits
Salary and Production work almost always hand in hand. Your Hygienist who is properly trained will earn around three or four times his or her salary for the practice because of the increased production. Other staff like your assistants can earn up to seven times their salary. Sometimes dentists who have a high percentage of salaries will hire additional staff to increase their practice’s production.
Your turnover rate can cost you far more money than the attractive benefit package your employees are requesting. If you are a new practice you may not be able to offer the same benefit practices as an established competitor, but you should at least have a plan for future growth to attract your employees. A good way to find out what your employees are looking for is to ask each staff member to write down the benefits they enjoy (vacation, paid holidays, holiday parties, etc.) and a list of benefits they would like to see in your practice. Go over with your dental accountant what can be done financially for your practice to improve your benefit packages to meet the needs and wants of your employees.
Your employees are a great asset to your dental practice, we suggest you reach out to us as dental accountants to help you fix any issues your employees have with their current salaries and benefits.
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