How Well Do You Know Your Employees?

Winter storms may have caused employment to be a bit sluggish, but as we move into spring, job growth continues to accelerate. Staff retention is becoming a top priority in 2014 for employers, as confidence builds in the economy and job market, making companies more vulnerable to losing key talent. Organizations will have to ask themselves tough questions about how attractive they are to candidates and employees, and whether they are doing a good job of communicating career development opportunities that have the potential to mitigate costly staff turnover.

  Click to enlarge.

According to many recent surveys, employee turnover is projected to rise significantly as the job market improves. This means that employers will need to place greater emphasis on employee retention to complement their recruitment strategies.

"While companies can develop and deploy a host of retention strategies focused on engaging staff and strengthening employee morale, one simple thing they can do is assess their employees' perception and awareness of internal mobility or career-tracking programs," says Nancy Halverson, vice president of global operations for MRINetwork.

The recent LinkedIn Exit Survey reveals that there is a considerable disconnect between employer and staff awareness of employee mobility programs. According to the survey, HR and talent acquisition professionals overestimate employee awareness of their internal mobility programs by more than 2X. Further, respondents in the US, UK, Australia, Canada and India overwhelmingly say it is easier to locate an open position outside of their company, than to be promoted within.

Halverson provides the following tips for building awareness of internal mobility programs:

• Brainstorm how your organization can develop an internal mobility program, if one doesn’t already exist
• Begin discussing internal mobility programs during the onboarding process
• Leverage and publicize internal mobility programs through employee referral programs to raise visibility
• Communicate internal promotions through multiple internal and external channels to create stories about employee advancement within the company
• Routinely assess employee awareness of the organization’s internal mobility program and adjust communication channels accordingly

Employee mobility programs have always been a great tool to encourage staff retention. Now they are increasingly important as companies face growing talent shortages due to skill gaps, and more workers begin to feel confident about seeking other job opportunities. Halverson adds, "Ultimately, internal mobility programs should be built into the company culture and employer branding efforts. Current and future employees should not only have a clear understanding of the career opportunities available within the company, but also see that there are viable paths for advancement."

Bits of Wisdom

In speaking with Dental Practice Owners and Dentists who are seeking employment or other practice opportunities, we find ourselves, as recruiters and consultants, saying a lot of the same things.  ETS Dental’s team would like to share with you some top bits of advice.

For Dental Job-Seekers

• Don't compare your offer to your friend/colleague’s offer or contract. He or she will likely inflate or lie about it.
• Don't move to Southern California.
• 4 out of 5 practices pay on collections. It’s just a fact.  Don’t limit your options based on this factor alone.
• High compensation percentages are great, but always remember that 40% of zero = ZERO.
• When considering geographic location, think about what you're really looking for. Do you need to be in "x" (major city) everyday, or just have access to that major city?
• Never pay to find a job, unless you’re a professional athlete.
• Be responsive to potential employers when they reach out to you.
• Keep track of the practices, groups, and companies to which you apply.  It’s embarrassing when you’re called and you don’t know who you are talking to.
• The grass will always appear greener on the other side, but very often it is not the case.
• Don’t pretend to be a contract expert.  Get advice from experienced professionals when needed.
• Practices are not good or bad because they are “corporate” or “private.”  Individual office management is mostly the reason practices are good or bad places to work.
• Do you want to be a little fish in a big pond or a big fish in a little pond?
• What is more important to you? Location or opportunity?
  
  

For Hiring Practices/Practice Owners

• Don't hire an associate to allow yourself more time off or fewer days per week and expect to make the same (or more) money.
• Great associates or partners are not found or hired in a matter of days.  It takes at least a few months.
• Listen to your office staff when making new hires.  If your team can’t stand your prospective associate, it will not go well very quickly.
• Don’t pretend to be a contract expert.  Get advice from experienced professionals when needed.
• The best talent is not necessarily local talent.  Be open to out of town prospects.
• Old dogs can learn new tricks. It just happens differently.
• The hardest associate to hire and keep happy is your very first associate.
• Hire the best for your practice, not the first available.
• You get what you pay for.
• Personalities can't be changed, but clinical skills can be learned.

Posted by Carl Guthrie, Senior Dentist Recruitment Consultant with ETS Dental. To find out more, call Carl at (540) 491-9104 or email at cguthrie@etsdental.com.

Bridging Generational Gaps in 2020

As we move towards the 2020 workforce, companies face an interesting demographic dynamic in terms of talent acquisition - a workforce comprised of millennials, Gen Xers, baby boomers and traditionalists. While each of these groups has their own generational differences, the most notable are the expectations and approaches to work between millennials, who will make up the majority of the workforce, and baby boomers. With the latest Bureau of Labor Statistics Occupational Outlook handbook projecting total employment to increase by 15.6 million jobs between 2010 to 2020, generational differences will become an additional component of diversity relations at the workplace. Recruiters and hiring staff must learn to recognize the combined value, perspectives and impact of successfully integrating these distinctly different generations into an organization's teams, ultimately improving the company's ability to develop solutions, products and services for the future.

  Click to enlarge.

Millennials
Millennials entering the workforce have frequently been characterized as individuals born between 1980 and 2000, who are entitled, lazy, job-hoppers, overly ambitious and unaware of business etiquette. Regardless of how accurate these descriptions are, this generation has demonstrated that it is in search of meaning and purpose. "Millennials want more than just a job; they seek careers that hold their attention and fulfill their ambition, all while providing competitive pay and work-life balance," says Suzanne Rice, director of U.S. franchise development for MRINetwork. "They want to work for companies that have a reputable brand, as well as products and services of which they can be proud. Unlike older generations, that didn't have the same access to technology, millennials are driven by out-of-the-box thinking, collaborative approaches to solutions and the ability to leverage the fastest, most efficient means of accomplishing goals."

Baby Boomers
A growing number of workers age 55 to 64 are continuing to work longer, yet in 2020 this generation of workers will only make up about 20% of the workforce. They have an entirely different approach to work than millennials and are often characterized as conscientious, dedicated, independent-minded workers that enjoy working alone on projects and then rejoining the team to reveal results. "Baby boomers can find it difficult to work with millennials, because they don't understand the younger generation's need for coaching, mentorship and collaborative work," says Rice. "They grew up in a time of stability, economic prosperity and opportunity when higher education and wider career options were becoming more accessible. Parents were away from the home more and children became latch-key kids. As a result, this generation tends to have a work ethic that is focused on self-reliance, paying your dues, putting in overtime and doing everything needed to accomplish tasks."

Despite the generational differences, millennials and baby boomers do have things in common. Both groups are focused on excellent job performance, and that can work to an organization's advantage. Millennials bring technology savvy and work efficiencies that can benefit companies. Baby boomers have the ability to provide millennials with insight on work etiquette, the company's culture and career tracking by demonstrating clear paths for advancement in the company. This type of relationship satisfies millennials' need for ongoing training, mentorship and collaboration, while providing baby boomers with job stability and value as experienced employees. Companies end up with improved work synergies and succession planning for the organization's future leaders.

We face an interesting paradox as the industry ushers in the next generation of workers. Adds Rice, "Recruiters and hiring managers will have to become knowledgeable about the different expectations of millennials and baby boomers, providing them with the growth opportunities they seek, while also leveraging their generational differences to create effective teams that can lead companies forward."




ETS Dental is a Dental Recruiting firm specializing in finding and placing General Dentists, Dental Specialists, and Dental Staff throughout the United States. www.etsdental.com

What Can an Associate Dentist Earn in Different Parts of the United States?

Last year we ran an article about how much Associate Dentists make across the United States.  The data provided was from the Dental Economics Annual Practice Survey.  This week I took an informal poll of our recruiters to learn about the current trends in compensation structures across various regions of the United States

Very important to note the following:

• Most of our experience is with private or local group practices
• These compensation averages are based on what we typically see in the market place, so what you may see or hear could potentially be higher or lower. 
• Income based on percentages is relative to what will be produced/collected, so it is not necessarily fair to compare offers solely based on the percentage paid
• The more saturated an area, the lower the percentages and average income will typically be for a doctor. However, this is not a universal fact, just likelihood.
• These numbers were based on doctors with 1 to 5 years of experience
• We understand the ever-present debate of collections versus production.  What we see is greater than 4 out of 5 practices pay on a collections-based system.
• We are only talking about Associate Dentists’ income levels.  Not all dentists.  Owners absolutely make more income.  For example, Department of Labor statistics will be significantly higher than what is listed below. 

General Average of Doctors with 1 to 5 years of clinical experience

Location	Total Annual Compensation	Percentage of Collections/Production	Base minimum or guaranteed salary	Other points of note
New England and North East U.S.	$130,000	35% of collections	$500/day	Lab expense of 35-50%
South Eastern  and Mid-Atlantic U.S.	$130,000	30-33% of collections	$110,000 to $120,000 per year; $500/day	Equivalent lab percentage
Midwest and Great Lakes	$130,000 to $140,000	30-33% of collections	$120,000 per year; $500/day	Equivalent lab percentage up to 50%
Great Plains and Rockies	$130,000 to $150,000	30% of collections	$500/day; $120,000/year	If a practice charges lab it will be equivalent to percentage up to 50%
Texas / Oklahoma / New Mexico	$130,000 to $150,000	25-30% of collections	$500-$600/day; $120,000 to $130,000 per year	Rarely seeing any lab fee charged to the associate in recent years
Western Seaboard	$120,000	25-30% of collections	$400 to $500 per day	50/50 chance the practice charges any amount of lab to the doctor. If they do it is equivalent up to 50%.
Multi-state and National Dental organizations do vary from some of the above, but only in some ways.  Overall, they offer a strong base salary in the area of $120,000 to $145,000 per year, depending on experience.  They pay a percentage of collections/productions that ranges from 25% to 33%.  Some pay the same percentage regardless of the level of production, while others will offer a tiered scale that increases the paid percentage for levels of production/collections that are met.  For example: up to $40,000 = 25%; $40,001 to $50,000 = 27%...  These organizations more often than not offer a full complement of benefits such as 401k, malpractice, medical insurance, CE, etc.

Overall, what you see here is fairly similar earning amounts across the country.  However, the way doctors are paid varies from the Northeast over to the Northwest.  Something to consider when you are looking for your next practice opportunity.

Posted by Carl Guthrie, Senior Dentist Recruitment Consultant with ETS Dental. To find out more, call Carl at (540) 491-9104 or email at cguthrie@etsdental.com.

Qualities of a Great Leader in a Dental Practice

As many experienced dentists know, learning and applying the technical aspects of dentistry is only half of what it takes to be successful. Whether a doctor is running his or her own solo practice or working as an associate alongside many others, leadership plays an enormous role in setting the course for your professional career as well as the future of your practice as a whole.

Here are some leadership qualities we often see successful dentists portray in their own practices:

1. Have a clear vision - If a patient were to walk into your practice a year from today, what would be different? What about five years? Or ten? Having a written, clearly-defined vision for your practice not only help set future goals and objectives for sustaining and improving patient care, but it also gives your dental team a target to shoot for each and every day.
2. Get your team motivated - Motivate your team in a style that matches the vision of your practice. Setting clear goals and measuring success through performance targets is a great way to increase productivity and keep everyone on task. Learn how your team responds to different stimuli as well. If you sense your morning routines are becoming drab and motivation is low, consider having special days, change in dress, or activities that involve patients to help shake things up. 
3. Don’t settle for less – With competition at an all-time high in the dental industry, now is not the time to sit back and coast when it comes to providing excellent care each and every time a patient is in the chair. Excelling in all areas of your practice, from friendly customer service when a patient walks in the door to the dental treatment itself and your own bedside manner, will all play pivotal roles in determining the success of your practice.
4. Continuing education = continuing success – Continue to challenge yourself to grow professionally and personally every day. Whether its books and articles, classes, or professional peer groups, find a way to continually develop and hone your leadership skills.
5. Be a good example – When it comes to your actions, attitude, and reactions, how you control your own emotions will become a clear indicator of how the rest of your team should control theirs. Maintaining a positive energy and treating each team member with respect are key elements in developing your role as a successful leader.
6. Clearly communicate your expectations – This is an area where many dentists (and bosses in general) really struggle. Developing great policies and procedures for your practice is great in theory, but if none of those ideas and expectations are communicated effectively, they become useless. Reinforce your expectations in employee handbooks, morning huddles, and one-on-one meetings with staff regularly. Hearing the same expectations daily reiterates their importance and helps keep everyone on-track.

Becoming an effective leader doesn’t happen overnight, and it most certainly doesn’t come without intentional effort. How successful you are at becoming an effective leader ripples through every aspect of your dental practice, and can in many cases make or break the success of your team as a whole. With some patience and practice, though, any dentist can mature into a great leader and set their practice on course for many years of success and prosperity.


ETS Dental is a Dental Recruiting firm specializing in finding and placing General Dentists, Dental Specialists, and Dental Staff throughout the United States. www.etsdental.com