It would be so simple if practice owners
could open a fortune cookie for each one of their employees and find the method
by which to fairly compensate them.
While there are commonly accepted methods of compensation, their
implementation in veterinary practices varies because different entrepreneurs
have different business goals. Also,
“fairness” is a relative term that introduces variability into an equation that
might otherwise be consistent from practice to practice. This article describes the factors that
practice owners should consider when determining compensation for veterinarians
and paraprofessional staff.
Below is a table that provides a snapshot of current key indicators available for small animal companion practices. It is not meant to be all-inclusive, but rather to provide some guidelines that enable managers to take the practice’s compensation pulse. They can then determine if the practice is on track for the next year or needs to perform some diagnostics to prevent a fiscal derailment.
Many periodicals and books discuss
the factors one should consider in establishing a compensation policy for
veterinarians. Of particular importance is the question of whether compensation
should consist of a fixed salary, a percentage of the revenue generated by the
veterinarian and collected by the practice (i.e., commission-based), or a
combination of the two. If a commission-based component is present, it is also
important to consider how the revenue figure will be calculated. Will it be
limited to revenues generated from professional services, or will it include
revenues generated from items like over-the-counter medications and foods? Percentages can also vary in relation to
the magnitude of the revenue number that is generated. Implementing compensation systems in practice
requires attention to the details of production calculation and timing of
payment. The key to remember is there is NO one size fits all when determining
the appropriate compensation for veterinary and non-veterinary staff. There are numerous factors that go into
assessing the actual method used for compensation, which often requires the
assistance of an advisor.
National starting salary
information is generally published annually in the Journal of the AVMA. (See:
Employment, starting salaries, and educational indebtedness of year-2013
graduates of US veterinary medical colleges, October 1, 2013, Vol. 243, No.
7, Pages 983-987; Employment of male and female graduates of US veterinary
medical colleges, JAVMA October 1,
2011, Vol. 239, No. 7, Pages 953-957.) See also the latest biennial edition of
the American Animal Hospital Association’s Compensation and Benefits-An In-Depth
Look and the AVMA’s Economic Report on Veterinarians and Veterinary
Practices (Wise, J., Center for Information Management, AVMA, Shaumberg, IL
(Tel: 847-925-8070). Two
periodicals, Veterinary Economics and Veterinary Hospital Management Association
Newsletter, also regularly publish helpful articles. In addition, Wutchiett
Tumblin and Veterinary Economics published Benchmarks 2019 Well Managed
Paraprofessionals are often compensated on
an hourly basis and the industry has yet to develop widely adopted
performance-based compensation models. Paraprofessionals generally report low job
satisfaction and high turnover rates. In the 2016 NAVTA Demographic Survey, 38%
of veterinary technicians left the practice due to insufficient pay, 20% due to
lack of respect from an employer, 20% from burnout and 14% because of the lack
of benefits. Full time technicians reported a salary between $15-20 per hour,
while part-time technicians reported $14-16 per hour. After taxes, even the
well-paid veterinary technicians are only slightly above what is considered the
poverty line for a family of four in the United States ($24,300).
According to the United States Bureau of
Labor Statistics, the median pay for veterinary technicians was $16.55 per hour
in 2018. By comparison, a JAVMA published study on Jan. 1, 2016 of certified
veterinary technician specialists
reported that the weighted mean pay rate in 2013 was $23.50 per hour.
In AAHA’s 2020 Compensation
& Benefits survey, average veterinary employee turnover was 23%. Turnover was 32.5% for receptionists, 23.4%
for veterinary technicians, 10.3% for managers, 16% for associate veterinarians,
and 32.9% for all other staff. To compare with the national workforce,
Compdata’s Annual Compensation Survey showed that national average turnover was
15.9% in 2010 and 19.3% in 2018. The chart above can be helpful to
calculate a practice’s turnover expenses. Turnover is a pervasive and expensive
problem that can be mitigated by learning how to properly motivate employees.
As the presence of corporate consolidators in the veterinary field increases, it has become even more important to understand what to look for when negotiating an associate contract with a corporate practice. Generally speaking, corporations can have a significant edge in negotiations because they can cause you to believe that their contracts are non-negotiable. They may, for example, say the following: “This is our contract for everyone.” In reality, everything is negotiable, and it’s your value that allows you to negotiate your own contract.
While it’s true you may have less negotiating power with a corporation than with a private practice, you will have more legal protection under the employment laws with a corporation. Ideally, all contracts should be reviewed by an attorney or translator experienced in reviewing veterinary employment agreements, because contracts are intended to prevent miscommunications in the future. Below are some key points to consider when negotiating a contract with a corporate consolidator (“CC”).
1. Term and Termination: How long will it be until your contract expires? Does the term automatically renew at this time? Note that, if a contract has a one-year term, that does not guarantee you a one-year employment. The employer may in fact have the ability to terminate you sooner. CCs like to use the term “at will,” meaning they can fire you at any time for any reason. Other ways of termination would be “without cause” with both parties agreeing to give “X” number of days’ notice before termination. Many CCs, though, will not want to give you advance notice, especially if they are taking over a new practice.
2. Schedule: How many scheduled hours per week are you required to work? Beyond that, how many additional hours must be spent calling owners, overseeing patient care, and more? Are there any required emergency hours? What about holidays, weekends, and nights? CCs tend not to give exact number of hours to be worked. They tend to use language such as “minimum of 40 hours” as opposed to “from 35-45 hours.” Specificity is against the interests of the CC.
3. Duties: What, as an associate, are you required to do? Review this, because some CCs may require you to do additional work that you didn’t need to do for old management. Do you, for example, have to organize staff meetings? Participate in marketing? Handle emergencies during work hours? Being specific in the contract almost always benefits the employee. Note that private practices tend to be more willing to mentor you in these duties than CCs.
4. Compensation: Typically, compensation is paid by salary, commission (production), or a combination of both. How is your production calculated? Do you get production reports? Are there any deductions from your salary and, if so, what are they? Is there negative accrual during slow production months? CCs can change how they calculate their production pay. If you’re not aware of how you get paid, you may not realize why your production pay has changed.
5. Benefits: Most practices offer some sort of benefits package, and CCs typically offer larger and better packages than private practices. However, these benefits can be subject to change and are not guaranteed by the employer. CCs tend to comply with state and federal employment laws that govern how benefits are given, while private practices may not, due to lack of knowledge. These benefits are tax deductible and are not calculated as employee income. Therefore, there is a large savings to be gained with a larger benefits package. This usually includes but is not limited to health insurance, professional liability insurance, and retirement benefits. Note that, if a CC offers malpractice insurance, it often does not cover license defense.
6. Exclusivity: Employers will usually require you to perform services for their hospital alone. This would prohibit you from doing any shelter or relief work on the side. This may even prohibit any other type of job, even if not related to veterinary medicine. CCs are no exception here, and you must negotiate specific exceptions if you wish to work outside of the CC.
7. Performance Evaluation: Will you be provided written or oral evaluations? When? Does this correlate to compensation?
8. Signing/Relocation Bonus: In today’s market, veterinarians are valuable and most places will offer some kind of sign-on bonus. CCs can usually offer a significantly higher bonus and, depending on where you are coming from, often offer a significant relocation allowance as well. Most of these bonuses are tied to retention, meaning you must work there for a predetermined amount of time—perhaps one year—to keep the bonus. If not, the money must be repaid. Also, in your contract, it’s important to find out if the bonus can be kept if you are fired without cause. One perk of working for CCs is that, if you are moving, they can often help you to relocate to another one of their locations, which can make the process significantly easier.
9. Non-Competition: The agreement states that the employee will not directly compete with the employer after termination of employment. The provision must state a specific distance and time (e.g., two years, ten air miles). This area should cover where 85% of the practice’s clientele comes from (trade area). When does your non-compete kick in? When does the non-compete become enforceable? CCs often have a much stricter policy than private practices. For example, some do not allow you to work in proximity to any of their hospitals. This could easily double or triple the area you could be prohibited from working in and can change if new hospitals open up. Also, the scope of restricted activity may be broader with CCs. In addition to small animal medicine, they may include intellectual property, research, practice management, and so forth.
10. Non-Solicitation: This agreement states that the employee will not try to poach other employees away from the business to work elsewhere. This would apply even if you are outside your non-compete area. It is important to also know that some CCs will not allow you to solicit employees from any location of theirs, even if you don’t personally know them.
11. Assignment: There is currently a very active market for the sale of veterinary practices. Many employers include provisions that allow your original contract to be signed over to the new owner. This means the buyer would not need to negotiate a new contract with you. It is important to check for this provision, whether you currently work for a private practice or already work for a CC.
It is important to understand all aspects of your contract while negotiating your associate contract to decrease any confusion during and after your contract period, whether a private or corporate practice. With the rise of corporations in the Veterinary industry, it is also important to note the differences between what a private practice and corporation could look like relating to an associate contract.
Try to make the contract as specific as possible so there is no ambiguity if an issue arises. Ask as many questions as you need prior to signing to clarify what exactly your job will entail. Always have the contract reviewed by a lawyer familiar with the field and do not feel pressured to sign prior to this. Corporations may be pushy and imply they do not negotiate, but this is your well-being and livelihood, not theirs. Know your value and pursue it in any contract.
In the technology age, there is a plethora of social media options. Many businesses have an account with each of the various outlets, but do you really need all of them? When does posting become too much for your business and correspondingly annoying to your clients? Do they really want to follow you on every social media platform and see the same thing posted multiple times? Do they want to see bad animal puns every day or would they rather see pertinent information regarding pet health?
Let’s break down the differences between the four most popular social media platforms—Facebook, Instagram, LinkedIn and Twitter.
Facebook is great for those who want to provide information about their business, as well as share information with their followers. Similar to a website, you can list a ton of information including hours of operation, services offered, and team bios. At the same time, you can also provide current information that may not be as easily updated on a website.
For example- Sally brings in a dog she found wandering on the street with no collar and no microchip. A simple picture of the dog and description of where the dog was found can be shared by multiple clients at that exact moment, which may increase the chances of finding the dog’s owner. Similarly, an update as simple as “Hospital closing due to snow” gets the word out fast and efficiently.
You can also share things such as client photos or veterinary articles that your clients may find useful or just downright entertaining. Clients can also leave reviews directly on your page, which may as a result, bring in new clients!
Instagram is a platform used mainly to upload pictures and videos. This can be a great way to keep in touch with your existing clients, and can foster a relationship more than just at their annual visit. Sharing pictures that clients send in may make them feel more connected to the practice and less likely to go somewhere else for next year’s checkup, or a random sick visit. Adding “behind the scene” clips to the Stories section can show the client how your team works together everyday to provide the best service possible for their pets.
However, Instagram has its drawbacks for businesses. There isn’t a dedicated section where you can provide a description of what you do, just a short space to fill in your name and a general idea of who you are. This could limit your followers to existing clientele and may not reach a new client who needs more info to take action and visit your practice.
LinkedIn is another social media platform that is used mostly for professional networking. Individuals can upload their resume directly to the sight for potential employers to view. Meanwhile, businesses can post available jobs and descriptions. It may be helpful for the veterinarians at your practice to have a profile on LinkedIn so that clients can learn more about their education and experience. However, there isn’t a lot that your business can do on this social media site on a daily basis.
As an employer, LinkedIn does serve as a great tool to keep in touch with contacts within the veterinary industry. Met someone at the AVMA conference? Want to keep in touch with former classmates? Find them on LinkedIn to stay connected. LinkedIn is a great source to find/offer job opportunities and can keep you connected to your professional contacts.
Last but not least, there is Twitter. Known mostly for rants by celebrities, Twitter is a platform used as a “micro-blog.” Basically, users can post short posts throughout the day (limited to 280 characters) about anything they want. For business purposes, this is similarly useful to Facebook in that it gets news out quickly and efficiently. You can use this site to provide information about closures and lost pets as well as share client pictures and “behind the scenes” snapshots of your hospital with short descriptions. Clients can direct their posts to you with questions or reviews, and you can respond and repost their comments to your own “feed.” Twitter can keep you directly connected to your clients, as well as their followers, to keep in contact with them, as well as potentially bringing in new clientele.
Social media is all about the instant gratification of a web-based connection. Staying in touch with your clients outside of the office is a great way to retain your clientele and establish loyalty. However, there is a lot of research that goes into how people respond to posts and what posts they choose to respond to. Is your goal to become famous worldwide for your funny posts? Or is your goal to share information about your practice and increase revenue? The platform(s) you use is up to you. However, we recommend you consider what your goal is and how each site works towards this goal, prior to clicking “sign up.”
Some do’s and don’ts of social media:
Don’t over post… Research shows that once a day is optimal; anything more may become annoying and result in your clients “unfollowing” you.
Do know WHEN to post during the day… If your clients are mostly full-time workers, posting after normal working hours may increase the reach of each post.
Don’t post pricing information… Since prices can change and each situation can vary, do not lock yourself in by posting prices online. A receptionist can provide a range for an estimate better than a website.
Do make your pages easily accessible… Provide as much pertinent information as possible. Make sure you always link to your website and provide a phone number for any questions.
Don’t give access to just anyone… Limit social media access to 1 or 2 staff members who are trustworthy and can work together to keep the platform going.
Do interact with your followers… But do not respond in negative ways to bad reviews. Simply ask the reviewer to reach out to your office to settle the situation.
Turnover among veterinary specialist associates is caused principally by the failure of practice owners and employees to properly articulate their respective expectations and negotiate and document the employment relationship. Time and effort invested up front will help avoid mismatched expectations, misunderstandings and separation down the road.
Can the practice even afford another full-time veterinarian? Management consultants estimate that a small animal practice vet needs to produce a minimum of $180,000-$250,000 gross income (excluding OTC product sales) to be worth his salary. This number is far greater for veterinary specialists…..probably at least 3 times.
WHAT IS AN EMPLOYMENT CONTRACT? A contract is a set of bargained for promises between two or more people, where one party promises to do X in exchange for another party’s promise to do Y. Courts require that an enforceable promise meet certain conditions. For example, the parties must be of age (no minors), of sound mind, and not under duress; there must be no fraud or mutual mistake over an important aspect of the transaction, and the deal must not be so one-sided as to be “unconscionable.”
Consideration. To distinguish binding promises from charity or gifts (you can’t sue Santa Claus because he didn’t give you enough presents last year), the law requires that the party to whom the promise is made give “consideration” for the promise in the form of a benefit to the promissor and/or detriment to the promisee. Thus, Dr. Specialist promises to work 40 hours per week inconsideration for an annual salary of $125,000 (i.e., a benefit to Dr. Specialist and detriment to Dr. Owner ). Dr. Owner promises to pay such salary to Dr. Specialist in consideration for Dr. Specialist’s labor (benefit to Dr. Owner and detriment to Dr. Specialist). Consideration exists for each promise which is therefore enforceable.
Avoid Oral Contracts. Oral contracts generally are binding only if their performance lasts less than a year, because the law assumes that the parties’ recollections of what was agreed to become unreliable over time, increasing the tendency to remember events in a self-serving way. Few disagreements are less productive than the “you promised X,” “I don’t remember X but you promised Y” litany. Prevent such wasteful bickering by always insisting on a written contract, regardless of it’s term.
CONTRACT FORMATION. Legal theory provides that a contract is formed once an offer is accepted. Real life usually is a lot messier.
OfferAn offer can be oral or written (e.g., employer advertisement in a professional journal, on a bulletin board or mailed to the applicant). Typically, the prospective employee will ask for clarification and wish to change the terms of the original offer by making a counter-offer. The employer counters such counter-offer with his own counter-counter-offer. This confusing and frustrating process continues until either the parties reach an agreement or, realizing they can’t make a deal, go their separate ways.
Acceptance Legally, the contract is formed as soon as the offer is accepted. This can be a trap for an impulsive party who accepts an offer, but who later asks for “just one more thing.” After acceptance, it’s too late and the other party can sue for damages if the impulsive party doesn’t perform his or her obligations under the originally accepted offer.
Ideally, an accepting party will clearly indicate his acceptance to the offering party, at best by signing an employment agreement or acknowledging acceptance in writing on the offer. More difficult to prove, but still unambiguous is an oral “I accept” or words to that effect.
Avoid unclear contract formation situations. Courts have created the so-called “action in reliance” (promissory estoppel) doctrine to find enforceable contracts even when one of the parties thought no contract existed. Courts have found valid contracts in cases where an:
employer knew or should have known that the employee had acted “ in reliance upon the offer” such as incurring expenses to move to the job location, searching for lodging thereat, and informing other employers they no longer are job applicants; and
employee made the last offer or counter-offer, and such employee knew or should have known that in reliance thereon, the employer ceased advertising for the position, informed candidates that the job was filled, or bought new equipment or hired additional support staff in anticipation of the employees arrival.
Accordingly, a party considering an offer should not talk or act in a way it knows or should know will lead the other party to believe that such offer was accepted and should make sure that the other party is not taking action “in reliance” on anything it did or said.
III. CONTRACT TERMS. Assuming that the offer, counter-offer, counter-counter offer, etc. ballet results in the bliss of acceptance, the employment contract terms contain the nuts and bolts of the “meeting of the minds” of the parties. Following is a list of the main questions addressed in a proper employment agreement:
How Long? Is there a fixed term (period) of employment (six months, one year, two years, or is it “at-will” (i.e., the contract continues until a party decides to terminate it)? Is the term automatically renewed on the expiration date?
Work Schedule. How many scheduled hours per week must the employee work, and beyond the schedule, how many additional hours will employees actually spend phoning clients, performing diagnostics, interpreting laboratory work, overseeing patient care, etc. What is the schedule for any required emergency work? Is it equitable?
Duties. What are the associate’s responsibilities? May employees decline (without penalty) to perform procedures they deem ethically wrong? How much emergency duty is required? Will they be required to visit rDVMs, engage in marketing activities?
Compensation: How Much? Is It Enough?
Serious job applicants must know the relevant “comparables” in their labor market, i.e., what compensation is paid to other starting associate veterinarians in the area were they are seeking employment.
Is it Enough?
Currently, the salaries that are being paid to different specialists is not well documented. The AAHA/Care Credit 2005 Specialty & Referral Veterinary Practice Benchmark Study and ACVIM proceedings from the Hill’s Practice Health Symposium, titled “Insights on Veterinary Specialty Practice Productivity” are a sampling of the few publications that have salary figures. Regardless of the trends, however, debt ridden veterinary specialists cannot assume that current salaries will permit them to survive (let alone live comfortably). So the first question isn’t really “how much are they paying?” but rather “what do I need to pay my debts, buy cold cereal and go to a few movies?”
The only way to answer this question is by doing a budget. Budgets undoubtedly are one of the most boring tasks in the world, but boring beats finding out that you can’t make ends meet six months after you’ve been hired. Technology has reduced the pain of budgeting, so there is no excuse for not doing it. Any financial software program worth its salt will permit veterinary graduates to establish a budget. See attached form to assist in determining one’s budget. You can also do a budget on the following website: Personal Finance Simulator 2011(www.finsim.umn.edu)
Tips for Making More Money
As discussed below, a common way for associate veterinarians to increase their compensation is to join a practice, which pays them a percentage of the collected income they generate. Other ways include working additional shifts, and working at another practice is the employer will permit it.
Compensation Types: Flat Salary, Percentage Income And Performance Bonuses
Generally, there are three types of veterinary associate compensation: (1) flat salary; (2) commissions based on a percentage of the income generated by the associate; and (3) a hybrid of flat salary and commissions.
Flat salary (a fixed amount per year), is a common form of associate compensation. A fixed salary provides the veterinary associate with the security of a predictable income. It is also simple to keep track of. Associate veterinarians earning flat salaries, however, cannot increase their compensation, no matter how much income they generate for the practice or how hard they work. Flat salaries are not preferred by new graduates looking for the opportunity to increase their compensation in exchange for a greater contribution to the practice.
The straight commission system simply replaces the flat salary with a commission. The straight commission scheme link the dollars veterinary associates earn with their contribution to practice revenues. Because practice revenues (and the commissions) will vary month to month, associates will have a more difficult time managing the repayment of their student debt.
Under a hybrid compensation system veterinary associates are paid a guaranteed base salary plus an income production bonus equal to the percentage of the collected income they generate in excess of a certain target. The base salary provides security, as well as a predictable income stream with which to service student debt. This is a significant advantage over the straight commission system.
Production Compensation Pitfalls
While production compensation usually permits new graduates to increase their compensation, the system does have its problems and pitfalls. By carefully examining practice operations and asking the right questions, prospective associate veterinarians should be able to either avoid these pitfalls or at least reduce their impact.
Assigning Cases and Receptionist Gate Keepers.
Staff Efficiency and Leverage.
Data Processing and Definition Issues.
Competition and Distrust Among Veterinarians.
Employee Benefits. Practices usually offer at least some of the employee benefits described below to their employees. The cost of many benefits (such as health, professional, and disability insurance, qualified retirement plans) are tax deductible business expenses to the employer and are not included in the employee’s income, resulting in a savings to the employee of 25 to 40%. Not taking advantage of this juicy gift from Uncle Sam is wasteful. On the other hand, employees must realize that the practice probably can’t afford all the benefits they desire.
Health Insurance. Does the employer offer health insurance? If not, what does the employer do when he gets sick? If so, what kind of medical plan is it (e.g., fee for service, HMO, PPO)? What about pre-existing conditions, vesting, eligibility, deductibles and co-payments?
Disability Insurance. Employees at age 25 have a 58% chance of becoming disabled for more than three months (with an average disability duration of three years), so employees need disability insurance to protect their greatest asset: the ability to work. If the employer does not offer disability insurance, employees are well advised to get it on their own (after asking, of course how the employer, protects himself or herself against disability).
Professional Liability Insurance. Do employers pay the premiums on the employees’ professional liability insurance?
Retirement Plans. Has the employer established a retirement plan for the employees? (Profit sharing plans are the most common type of retirement plan offered by veterinary practices.) When do employees become “vested” or “eligible?” If the employer does not offer a retirement plan, employees will need to save on their own (and that means more than just the annual IRA contribution).
One week? Two weeks? More? How many consecutive days may be taken? How much advance notice must be given? May unused vacation days be carried forward to next year? How are vacation days paid for percentage compensated employees?
Sick Leave and Disability. Does the employer offer paid sick leave? Disability leave? After how long can disabled employees be terminated? May unused sick days be carried forward?
Continuing Education. How many CE leave days are granted and are they paid? To what extent do employers reimburse CE expenses?
Association Dues. Are national, state, local and specialty veterinary association dues reimbursed?
Veterinary License Fees and DEA Registration. Are these fees paid by the employer? Should the employee register with the DEA so she is permitted to prescribe and order controlled substances (rather than just administer them under the supervision of a DEA licensed veterinarian)?
Relocation (moving) expenses. Most corporate and government employers provide some form of moving expense. Sometimes a “signing bonus” or short term loan can cover all or part of these costs.
Vehicle allowance or mileage payments. Employees using their personal vehicles for practice business should be reimbursed for a pro-rata portion of their insurance, general maintenance, registration and inspection fees, fuel, repairs, depreciation, and lost opportunity costs.
Performance Evaluation. Will the employer provide written and/or oral performance evaluations? How often? Will these be used to modify compensation?
Non-Competition. Many employers require their employees to sign non-competition clauses (also called restrictive covenants) forbidding terminated employees from competing with the employer. Such clauses must be limited in time (e.g., 2-3 years after termination) and geographic area (e.g., 25-50 air-miles from the practice) to be enforceable. The precise limits on the scope of such clauses vary from state to state. Specialists typically have a larger radius as the trade area for specialty practices is much larger than a generalist’s.
Termination. Does the contract have a specific term (e.g., “this agreement will expire after one year”) or is it employment “at-will”, in which case, either party can terminate the relationship at any time, for any reason? Contracts with no term are deemed to be “at-will” in most states. If there is a term, then an employee leaving or an employer firing before the term would constitute a breach unless the contract provides otherwise. Most contracts which provide for termination before the expiration of the term require that the terminating party give advance notice (e.g., 90 days) to the other party. Such contracts usually also contain a list of situations (e.g., suspension of the associate veterinarian’s license) permitting the employer to fire the employee at any time without notice (a.k.a. termination “for cause”).
Employees should make every effort to leave their employer on good terms even if they are not requesting a reference. The veterinary industry is quite small, and an employee’s reputation can easily suffer through casual conversation among colleagues.
LAWYER REVIEW. Negotiating and drafting an employment contract can be long, painful and complicated. It therefore makes as much sense to seek professional help in this endeavor as it does to take a pet to a qualified veterinarian when it is sick. Lawyers are expensive, of course, just as much as veterinarians…
In today’s times, employers are finding that they need to make their workplaces as appealing as possible to recruit and retain employees. In the past, it may have worked reasonably well for a company to advertise for employees, interview candidates, select the best ones, and then tell them what benefits were available.
Today’s reality is quite different, with new employees now having certain needs and desires that aren’t necessarily the same as those valued by Baby Boomers. Although employers are still interviewing job candidates to find the right person to hire, quality employees are also using the interview process to decide which company is the best fit for them.
This may be even more true in the veterinary industry than in the overall workforce, as the shortage of veterinarians, nurses, and technicians becomes even more acute. Here are insights into four benefits being desired today.
Although quality employees are still willing to work hard, today’s graduates greatly value life-work balance. One recent Gallup survey indicated that 53 percent of employees today place a premium on this kind of balance and, as new graduates continue to come into the workplace, that number is likely to continue to increase. Because this balance was found to be even more valuable to females, this benefit is especially important to note in industries that are often female-dominated–such as the veterinary industry.
Because of this shift in values, practices that want to attract an all-star team will need to consider how they can incorporate flex-time schedules. This can feel challenging, given that patients typically need to be treated in the same room as the veterinary professionals, making it difficult to allow employees to simply telecommute.
Instead, practices may need to provide more flexibility within the jobs themselves. For example, practice managers can focus on matching up job responsibilities with the interests of each employee. Or, it could mean allowing employees to swap positions on certain days to give them variety in what they do, which can help to strengthen teamwork.
One of the most desired ways to offer flexibility, though, will be to help employees accommodate their personal schedules and needs within a workweek. For example, how can you facilitate shift switching in a way that covers the needs of your practice but allows employees to meet demands from their personal lives? How can you adjust start times or lunch breaks to accomplish the same objective?
Is it possible to rearrange schedules to allow employees to have four-day workweeks? That’s another perk that’s increasingly in demand today.
A 2015 Workplace Trends study showed that flexibility was named the most important benefit by 75 percent of employees. Organizations who help to provide that flexibility have benefited in the following ways:
improved employee satisfaction (87%)
increased productivity (71%)
retained current talent (65%)
Plus, 69 percent of the workplaces surveyed use flex-time options in their recruiting, with 54 percent of them believing this had a positive effect on recruitment.
Learning Stipends/Continuing Education
Learning stipends are cash benefits offered to employees that they can use for professional development or continuing education. Many employees today want to continue to learn—with one study showing that 87 percent of Millennials consider the opportunity to continue to grow and develop a key benefit. In turn, this lifelong-learning, more educated workforce can provide significant benefits to the veterinary practice.
Encouraging a learning mindset in your practice culture, and helping to provide educational opportunities not only helps your employees to grow personally, but also in a way that makes them even more valuable to your practice. If providing learning stipends to employees isn’t practical for you, then find out what employees feel they want to learn more about and provide workshops. One example of this option would be organizing lunch and learn events at your practice.
As a related desire, employees today often want to know that they will be mentored by an experienced person in the industry. This can mean someone who will help to navigate the new hire through the workplace culture, and/or to understand policies and procedures. Each person may have slightly different needs when it comes to mentoring, but it’s an in-demand benefit, one that can boost the strength of the practice when handled well.
Mentoring helps transition new employees into a particular workplace and, the more quickly that a new hire feels comfortable and part of a team, the more likely that he or she will want to stay at that job.
Also, consider incorporating reverse mentoring, where the new hires help to mentor more established employees in areas of their expertise. This concept was created in 1999 in General Electric, with many other prominent companies adopting the program.
One of the key benefits experienced by one such company is that they experienced a 96 percent retention rate for the Millennials involved in reverse mentoring. These employees felt valued for their contributions to the company, and this gave them a chance to work more closely with senior employees. This can also help to create a more diverse workforce and pipeline of incoming human resource talent.
Finally, though reverse mentoring, younger employees can help more established ones to stay on the cutting-edge of technological opportunities that may benefit the practice. One large insurance company pairs older IT employees with new ones to discuss best practices and key trends, and to otherwise maximize potential of the company.
What’s important to think about is how reverse mentoring might benefit your practice. Reasons may not be the same ones as those at the large companies being referenced in this article—and they may not be the exact same ones as the veterinary practice down the street. It’s important to think about your business and workplace culture needs, and then create corresponding pairings and reverse mentoring structures.
New employees in the veterinary industry will likely perk up their ears when they hear that a certain employer has invested in or has access to the best technology to treat their patients. Tech-enabled workplaces are simply more appealing to many of today’s job candidates. And, the use of technology to recruit and retain star employees can go way beyond the technology used to care for patients, helping to create an engaged workforce.
You could, for example, provide quality continuing education through the use of online courses or a training and development center that employees can self-access. Gamification in training may well appeal to the younger generation at your practice, creating a fun way to raise the bar on what employees are expected to know.
With gamification, training is provided in an interactive, engaging way that uses elements of games to help users immerse themselves in the experience. If this idea is new to your practice, this ties back into a previous strategy to use; you could ask your new employees to reverse mentor the team on the use of gamification e-learning.
Technology can help employees to collaborate and communicate, with conversations stored for future reference. You can use the power of your website to share your workplace culture with potential employees, letting them see how you understand their needs and focus on finding ways to fulfill them as, collaboratively, you build the best veterinary practice possible.
To maximize your practice, it’s important to stay in tune with what new employees desire. This can happen by reading industry reports, reviewing human resource surveys and studies, talking to your current employees, and using your interviews of new employees as opportunities to also learn more about what benefits and workplace cultures are important to them.
You will likely find that work-life balance, continued learning, mentorships, and technology are discussed. You may also discover new ways to effectively recruit and retain the ideal veterinary team that will allow you to compete in the industry and provide quality patient care.