Motivating Your Staff in Lean Times
Your employees are invaluable. They help your practice run smoothly, they keep your patients and their records updated, they probably even remember your birthday. So how do you keep these essential elements to your business motivated in this economical downturn? According to an article by Shelly K. Schwartz and Physicians Practice, it’s time to get creative.
When you realize that those year-end bonuses or even the usual cost-of-living raises aren’t in the budget this year, you need to think outside the box to reward your valued employees for their hard work and keep them from searching for greener pastures and fatter paychecks. Here are some examples of ways to show your appreciation without breaking the bank:
Get Flexible
Non-traditional and flexible hours are often more valuable to employees than a raise. If you can schedule it properly and have your employees cross-trained, the options are limitless to accommodating your staff. Allow them to come in early, work later, work from home for a few hours or even have a 4-day work schedule. They will relish the extra time at home or to themselves and will most likely be more productive during the hours they are in the office.
Broaden their Minds
Offering tuition reimbursement is another great way to reward your staff. Whether you pay outright for their education or pay them hourly while they attend the classes, you are showing your employees that you care about their growth personally and professionally and in return you have an employee with new skills.
New Titles/Accolades
Although an increase in pay may not be possible right now, acknowledging your employees who are going above and beyond with a title change will let them know you have noticed their hard work. And more importantly, the new title and additional responsibilities gives them bargaining power for higher pay down the road. Another way to boost morale is by handing out accolades to your staff. Give a shout out to who has really shined this month, worked on a special project or just deserves the attention. Either formally in a meeting, informally through emails or just at their desk, make sure their peers are nearby so they get all the credit they deserve.
Keep them Informed
Chances are you know what your financial situation is long before the end of the year. Share this information with your staff on a regular basis so there aren’t any surprises in December as to bonuses or other incentives. Maintaining an open relationship with your staff on this means they know in advance of any bonus or lack thereof—they can plan accordingly with their personal finances and you don’t have to deliver bad news.
Make Sacrifices
Before informing all the staff that bonuses or raises aren’t possible this year, check with the other physicians and think about sacrificing part or all of your monthly salary to show your gratitude to the employees. According to one office administrator, her physician has foregone his monthly paycheck on a few occasions to ensure his vital employees got paid. And since those employees know of his sacrifice, they are that much more grateful that he too goes without so that nobody loses their job.
Performance Bonuses
Rather than a standard all-inclusive bonus, consider the idea of a performance-based bonus. Develop a set formula in advance and if the practice brings in a certain number of new patients, reaches a certain payment goal or otherwise, all employees get to share in the financial gains. Conversely, if the office does not meet their required goals, then the bonus is not available. This not only motivates your staff who now has a financial stake in the success of the practice, but also makes them accountable if they don’t receive the bonus.
In this tough economy it may be difficult to show your staff the appreciation they deserve, but with some creative thinking and new ideas in place you can keep them motivated, content and on your staff.
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