Dentaltown August 2019 - 97
W
hen did it become OK to
quit your job via text message?
Are you stuck with an insolent
but "irreplaceable" employee?
Can you separate your team into people who
work and people who take advantage of their
seniority? Do you tell yourself things would
be better if you had the "right" team?
You aren't alone. Remember, you didn't
take "How to Hire the Perfect Dental Team
101" as an elective in dental school. You've
had zero preparation for this. To get off the
hamster wheel of high turnover and toxic work
environments, you need a hiring process that's
as successful as your clinical work.
When you finish this article, you will:
* Understand the connection between
employee turnover and financial loss.
* Have a pocket full of strategies
to attract the right people
to your practice.
* Have the building blocks of an
efficient and effective hiring process
you can put in place today.
As a bonus, you'll stop using Google and
your dental buddies as your HR department.
How employee turnover
affects your bottom line
The U.S. Bureau of Labor Statistics reported
that in 2018, 41 million people left their jobs.
A modest estimate of the cost to replace an
employee is 10-30% of their annual salary,1
so if a $60,000-a-year hygienist quits, it will
cost you anywhere from $6,000 to $18,000 to
replace her. I'm sure there are more valuable
places you'd like to spend $18,000 in your office!
Some statistics show the cost to replace
employees with specialty skills to be more like
200% of their salary. If you can do a lot with
$18,000, I can't imagine what you could do
with an extra $120,000.
These figures represent the direct costs of
employee turnover, such as:
* Severance pay.
* Job listing service fees.
* Signing bonuses.
* Training time and expense
for the new employees.
* Administrative time to
interview candidates.
Direct costs like these hit you right in the
bank account, of course. But don't forget about
dentaltown.com \\ AUGUST 2019
97
http://www.dentaltown.com
Dentaltown August 2019
Table of Contents for the Digital Edition of Dentaltown August 2019
Dentaltown August 2019 - Intro
Dentaltown August 2019 - Cover1
Dentaltown August 2019 - Cover2
Dentaltown August 2019 - 1
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Dentaltown August 2019 - Cover3
Dentaltown August 2019 - Cover4
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