Are you struggling to figure out what you should be paying your clinicians or offering prospective employees? Unsurprisingly, employee compensation is one of the most-common issues I’m asked about because it is an inevitable part of growing any practice. 

So this week’s video shares some guidance on what to offer as well as how to avoid a huge-but-common compensation mistake I often see cash-based practice owners making. You’ll learn how to find that sweet spot where you won’t overpay and squeeze your margins or underpay and fail to attract the top talent you need.

More specifically, I discuss these topics related to employee compensation:

• The critical difference between what you should pay and what you could pay and how it can be a real game changer for your practice.
• How the kind of non-salary perks a cash-based practice can offer will reduce the total employee compensation necessary to yield top talent.
• The 3 most-common compensation options found in cash practices.
• Why it’s a mistake to pay based on a percentage of what you charge patients for each session and what you should do instead.

Healthcare Recruitment | How to Pay Your Employees in your Cash Practice

I’ve got a free resource for you: The “Motivator Index,” which will help you determine what sort of incentives will really drive your employees to perform. 

Click below to download this resource to discover how to preserve your practice profits while providing truly valuable rewards for each employee.

Relevant resources:

CBP 135: Compensation strategies that grow a winning cash-based practice team

How to structure a position and compensation package so you can attract the right sort of candidate, including the legal, psychological, and strategic factors to consider.

3 Healthcare Recruitment Strategies to Land A-Level Talent for Your Practice

Learn some specific tactics that can help you find great candidates, manage interviews like a pro, and assemble highly attractive compensation packages.

How to get patients excited to schedule a visit with your new hire

Tips for getting both existing and new patients excited about working with a different clinician, so you can help each new employee begin contributing to the practice profits as quickly as possible.

MORE RESOURCES TO HELP YOU FIND TOP TALENT:

THE AUTOMATED TALENT ATTRACTION AND HIRING SYSTEM

A step-by-step guide on how to use free Gmail filters and Google Forms to AUTOMATICALLY weed out bad candidates, only show you the resumés of A-players, and complete half of the interview process without taking a minute of your precious time. Check it out here.

HOW TO ATTRACT TOP TALENT, MANAGE LIKE A CEO, AND FILL NEW CLINICIANS’ SCHEDULES WITH PATIENTS AS QUICKLY AS POSSIBLE

In this 1-hour Masterclass, you’ll learn exactly how to grow your practice with ease via headache-free employees and skillful management. Check it out here.