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Benefits of Profit Sharing with Employees
So, you've set up a sustainable veterinary practice. You have a solid staff, vendors, a well-equipped space, and clients that are trickling in. Now, what? How do you grow the stream of clients? How do you keep the ones you have coming back?
We've already seen that developing the skills of emotional intelligence - see our article: Emotional Intelligence: From Surviving to Thriving - can take your practice to the next level. But what are some concrete profit drivers? As a practice leader, what policies can you enact to push your business to success? What can you do to ensure that your team is as driven as you are?
Insert profit sharing: a monetary reward system that encourages contribution to the success of the practice as a whole.
When your employees know, concretely, that the size of their paychecks are directly linked to their job performances, and to the success of the practice as a whole, their focus will shift. They will be more inclined to view themselves as important pieces of the big picture, as innovators and leaders who will think proactively about the growth of the practice.
(Click here to read full article)
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Handling the Flow of Information To, From, and Among Your Employees
How do you improve employee engagement and alignment within your practice? Do you find your command and control approach not working? Would you believe it is as simple as having a conversation leveraging four essential attributes that form a single integrated process that everyone can use? Think about it, a conversation is a frank exchange of ideas and information with an implicit or explicit agenda. Help your organization find its conversational voice by demonstrating your own as a trusted leader who listens attentively, promotes dialogues in a welcoming space, encourages employees to share accountability for the substance of their discussion and conveys the strategic principles behind executive decisions and visions. Hear how you can find ways to use conversation in managing communication within your practice.
This communication model to improve employee engagement, alignment, productivity and performance involves using leadership skills in a flatter, more networked organization that responds to a dynamic process. How do you get from Me to We? You create leaders at every level within your practice (liberate your leadership) by communicating and modeling what's expected to your connected team, nurture a freedom culture by sharing your strategic vision for the practice so the team can own it (be involved with the decision making) while providing feedback (both positive and negative demonstrates concern for the personal growth of the individuals) and celebrating success. Collective leadership is about how individuals can collaborate to achieve greater results by working together effectively towards a common goal.
To be an inspiring, motivating leader adept at using your conversational voice, do you make an emotional connection with your team - it's ok to be human? Besides listening to your employees at all levels, you need to learn to speak with employees directly and authentically, incorporating personal experiences that have contributed to your conviction. The challenge is to master the balance of top-down distribution of information with a bottom-up exchange of ideas. Think about minimizing the issuing of orders and maximizing the asking/answering of questions. Getting closer requires gaining trust from your employees, being an attentive listener and revealing transparency.
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In the Spotlight:
Courtney Cook, VBA Extern
Courtney Cook is a 4th year veterinary student at UC Davis School of Veterinary Medicine where she is working towards a mixed animal degree, specifically food and small animal. She has worked in her past managing her family's business and has a passion for owning her own mixed animal hospital in the foothills of California. In her time at Davis, she has been an active member of the VBMA and has immensely enjoyed learning more about the business side of veterinary medicine through the extensive business and communication program built by Dr. James Clark. Courtney has a desire to build strong client bonds, offer educational classes to the community, promote self-care within the workplace, acquire knowledge on purchase and upkeep of a veterinary practice, and keep up with the trends and new developments within veterinary medicine. When she is not working towards her life goal of a practice owner, Courtney enjoys escaping up to the Sierras for some good mountain relaxation, going on runs to relieve stress from school, and spending time with her Pit Bull, Phoebe. If you would like to learn more about her, you may view her check her out on LinkedIn.
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Did you like our article "Do You Need a Practice Manager" ?
VBA can help you develop your managers and keep them on track with your practice goals.
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