Associate Dentist Jobs - Understanding the Numbers When Comparing Multiple Job Offers

It is always great to have options, but how does one job offer compare to another? We covered the typically negotiable elements of a job offer previously (read that blog post here). The purpose of this week’s blog is to share the observation that many dentists are leaving money on the table in search of a higher percentage.
Why not accept the bigger offer?
At the end of the day, a higher percentage of lesser production will often result in less income with a slower path to increased production.
My email contact list is filled with dentists who are financially dissatisfied yet unwilling to make a move because they would need to take a commission cut. While not always the case, there is a definite trend with the offices where these doctors are working. These offices typically:

• Have not invested in modernization . They have older equipment and office systems
  
• Have no marketing budget and get few new patients. They are long established patient bases that gradually grew to the point where the owner had more patients than he or she could comfortably treat.
  
• Are not well situated. They are typically located in old building removed from the busier, higher rent part of town.
  

As a result, the practices had very low overhead expenses and could offer the associates a higher percentage. They also tend to be slower, less progressive and charge lower-than-average fees.
Associates in offices like this will make significantly less income on a higher percentage than their busier colleagues working for a smaller percentage in offices with higher overhead but a more progressive clinical and business approach.
Why wouldn’t a more successful office offer a higher percentage?
These offices are reinvesting in the practices and have lower per-procedure profit margins.
While associates are often tempted to conclude that the business’ overhead is not their concern, it is wiser to consider the bigger picture. By investing in the practice, these owners are providing a better environment for the associate to thrive. The associate can more easily provide a higher level of care using better facilities. In addition, the associate can more easily operate efficiently using better office systems and will have more opportunities for treatment in an office with a greater number of new patients.
How big a difference does this make in associate compensation?

Daily Production	Annual income at 27%	Annual income at 30%	Annual income at 33%
$2,000	$108,000	$120,000	$132,000
$2,500	$135,000	$150,000	$165,000
$3,000	$162,000	$180,000	$198,000

As you can see, a small increase in daily production has a much larger impact on income than commission percentage
What should a potential associate look for when determining the income potential of an office?

• Procedural Mix
  
• New Patient Numbers
  
• Scheduling procedures
  
• Hygiene production
  
• What procedures are being referred out of the office
  
• Office equipment (business and clinical)
  

Other resources on associate dentist job offers:

• Is your offer reasonable?
  
• What do associates earn?
  
• Negotiating an offer
  
• What to know before you accept a position
  
• Comparing Offers
  
  
  Written by Morgan Pace, Vice President and Senior Account Executive/Dental Recruiter at ETS Dental (www.etsdental.com). For more information, contact Morgan directly at 540-491-9102 or mpace@etsdental.com
  

What Does Your Interviewing Process Say About Your Company?

Grabbing the attention of top candidates can be challenging for employers trying to court their first picks in the executive, managerial and professional job market. These applicants are typically interviewing with multiple companies and have additional options at their disposal. Employer branding and a streamlined recruitment process are just a few of the strategies companies are using to make themselves more attractive in this candidate-driven market. While these strategies can help make the recruitment and hiring process more efficient, many employers forget to consider the subtle messages they could be conveying about the company, through the interviewing process itself. This oversight can create a lasting impression that turns candidates off before an offer is ever made.

With a shrinking talent pool and increased competition for top candidates, employers have to not only sell the company well, but also conduct an interviewing process that presents the company and its corporate culture in the best light possible. "When companies approach the interviewing process from the candidate's perspective, they are much more likely to create an experience that is mutually engaging and appealing to the 'A' players in their markets," says Rob Romaine, president of MRINetwork.

The interviewing process should be an opportunity for both parties to evaluate a professional and cultural fit with the company. Yet, consider as an employer that perhaps you are additionally sending out unintended messages about weaknesses in the company culture or work practices.

Have you reflected on the following?

1. Is your process executed in an organized, seamless manner?
2. Are the company representatives experienced at interviewing candidates, or are they just winging it?
3. Are the interviewers polite and sincerely interested in learning more about the candidate's background, or are any of them annoyed that the interview is taking them away from their work?
4. Does the company do its best to follow-up with top applicants and keep them engaged or do several days or weeks go by without any feedback from the interviewer?
5. Is the interviewing process lengthy or is it respectful of candidates' time?

If you answered no to any of these questions, it may be time to re-evaluate what the company's interviewing and recruitment practices say about the organization. "Just as employers are concerned about making a bad hire due to poor cultural fit or lacking skillsets, candidates are equally concerned about working for companies that seem disorganized, unprofessional, unreliable or inconsiderate of their employees' needs," notes Romaine. "Even the slightest glimpse of poor work practices can send top candidates away from your organization and straight to a competitor."

At the end of the day, the interviewing process is as much about candidate discovery as it is about employer branding. It is therefore important for employers to evaluate whether their practices are attracting or detracting key talent from their organizations.