Incentivizing Staff & Improving Retention: Grow Your Practice LIVE Ep 2
Grow Your Practice Podcast
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Maximizing Clinic Profitability Through Staff Incentives
The chapter delves into key considerations for clinic owners when hiring new staff members, emphasizing the importance of using a pro forma tool to accurately forecast revenue potential and expenses. It discusses incentivizing staff based on profit margin and fair market value, highlighting the need to align bonuses with achievable goals to prevent toxic work environments. The importance of effectively communicating compensation packages, involving supervisors in motivating employees, and avoiding deductions from base salaries for bonuses is also addressed.
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