What’s the actual cost of turnover? The Society for Human Resource Management (SHRM) reported that the average cost for a company is 6 to 9 months of an employee’s salary to replace them. An employee making $60k per year is around $30-$45k to replace them, including recruiting and training costs. If you consider the turnover expense of $30k to $45k, that is close to the salary for a person in a
Employee turnover has been a major problem in almost every industry since the pandemic began. Dentistry has not been immune to this trend. Every time you have a team member leave, you have to expend resources to replace and train them. One of your most valuable resources—your time—is finite. That’s why the dental industry experts at Bryant Consultants composed this list of tips to reduce employee turnover. 5 tips to
You went to dental school and pursued continuing education so that you can provide the highest level of dental care to your patients. But going to dental school doesn’t necessarily make a dentist a financial guru. These are two different skill sets. You want to spend your time seeing patients, not poring over financial statements, although your practice’s financials should be a priority. The dental industry experts at Bryant Consultants
Cross-training your team has nothing to do with running. Shew! So don’t worry. You won’t be asked to do laps around the parking lot during your lunch break. Instead, cross-training helps your office achieve more and do more, which increases profitability. Operating a dental practice isn’t just about the money. You became a dentist because you want to help people by delivering the best care as efficiently as possible. Let’s
Are you investing in your team? You might ask, what exactly does investing in my team look like? You may be familiar with financial investments. The goal is to watch it grow. Investing in your team is similar. It allows them to feel empowered, confident, and knowledgeable, and you get to watch them grow professionally. If you invest in your team and they’re happy at work, they’ll be more productive.
“People quit people, not jobs.” Have you ever heard of that saying? It’s true. Most people leave their place of employment because of a toxic boss. Disagreeing with your boss is one thing, but working under someone that is always negative, causes dissension, and reduces morale can make life miserable. Unfortunately, many people across the U.S. wake up every morning dreading having to go to work because of a horrible