Hire the Best – Offer the Best Compensation

Want to make sure your clinic stands out in the competitive hiring landscape?
Offering competitive compensation and benefits is key to finding and retaining high performers. In this blog, we will share tips on how to structure your incentives, so they don’t impact your profit.

1. Research Industry Standards
Before designing your benefits packages, it’s crucial to research industry standards to ensure your offerings are competitive. Look into what other clinics in your area or similar markets are offering in terms of salaries, healthcare benefits, retirement plans, and other perks. This research will help you benchmark your offerings and ensure you’re providing attractive compensation packages that align with industry norms. You can simply find this on Seek.

2. Design Attractive Benefits
Once you have a clear understanding of industry standards, focus on designing your own unique to you.

Consider offering a mix of wellness and experiences:

  • Gym memberships
  • Soak day spas
  • Weekends away for your highest revenue earner
  • Educational event tickets such as expos where they learn and build their network

Then a mix of financial for other KPIs such as revenue, retention, and rebooking rate. Incentives are there to help your employees scale and grow. Your team get paid for their general job already so the incentives should be treated as a ‘bonus’ for if they hit ‘high’ targets.

Don’t forget to utilise the incentives that your suppliers give you too! This is free cash!

BC Team

By implementing incentives into your business model it drives each employee to perform at a higher level, increases your profit and rewards your team. Healthy competition is great for a high performer. Ensure to not make everything in your business model based on numbers. Client care is key!

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