employee retention

How To Keep Your "A" Players

How to retain your top-performing employees in a hot job market.
Business Consult September 2018

It’s a nightmare scenario for any business: A star employee suddenly resigns and accepts a position with a competing practice. Out the door goes years of experience, in-depth knowledge of your practice and industry, and perhaps a good number of hard-won patient connections.

Perhaps you were even grooming that top-performing employee for a management role. “When you lose your best employees you lose not only their skills but also their leadership potential,” says David Dye, President of Let's Grow Leaders, a management consulting firm in Washington, D.C.

Rewarding Employees

How to work within your budget to recognize, reward and retain key workers.
Rewarding Employees

Think of your most valuable employees—the ones who know the ins and outs of your practice, keep your office running smoothly, and are respected and liked by patients and staff. Now suppose those star staffers suddenly quit. How would that affect your day-to-day practice and profits?

Improving Employee Retention

Employee turnover adversely affects patient care and practice profits, but there are steps you can take to hold on to top performers.

How much will you pay for your next new hire? According to Jay Shorr, managing partner of practice management consulting firm The Best Medical Business Solutions, “it costs 25% of an employee’s annual salary to properly train and indoctrinate him into your organization, and it takes approximately three months before you can turn a new hire loose and feel comfortable he is ready to work on his own, fully comprehending your organization’s operations.”