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         Sally McKenzie

Sally McKenzie's Monday Morning Management Memo
Issue #11

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May 13, 2002

 

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Inside Tract
This issue is sponsored in part by:

McKenzie Management - A full service, in-office dental management
consulting company specializing in the business, clinical,and hygiene areas of practices
nationwide.You can find McKenzie Management at
http://www.mckenziemgmt.com

CareCredit - More than 30,000 healthcare practices nationwide use CareCredit as an
alternative means of helping their patients finance treatment. You can find CareCredit at
http://www.carecredit.com

LaresResearch - Make Your Practice Profitability Soar! SoftCareT boosts your hygiene
department profitability to a new level. Treatment of periodontal disease with the
Lares' PocketPro LasersT is easy to learn and offers a quick and dramatic return 
on your investment.   Lares lasers will also make your dentistry faster and easier,
visit us at
http://www.laresdental.com/products/lsc/default.asp
or call 800-347-3289,ext. 1 and schedule an educational presentation.

HPSC - Finances, via lease or loan, dental and office equipment, leasehold improvements,
working capital and supply contracts at fixed competitive rates, with no points,
variables or hidden fees.
HPSC also offers a variety of financing programs to dental
professionals seeking to set up, expand, buy into, or acquire a practice.
http://www.hpsc.com/

INFORMS - Allow InForms to participate in your successful practice by becoming the "ONE
STOP SOURCE" for your front office needs.
We carry a full range of products
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recall and appointment cards, registration forms, exam forms, statements
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, folders and labels. Call us at 1-800-722-4884 or email us at
informs@belllsouth today to receive your catalog.

 

 

Sally McKenzie's Monday Morning Memo---Issue #11

Dollars and Sense

Financial rewards come in many colors, all of them green. While dollars definitely are not the only motivator, you and your employees, obviously, have a major interest in revenues earned. We urge dentists to consider a few unconventional approaches when it comes to cash outlay for employees. 

  1. Put the hygienist on commission. This serves as an incentive for the hygienist to produce more than three times their salary. The commission would be in addition to a guaranteed base salary, which would allow both the practice and the hygienist to benefit financially. Each month the hygienist would receives a certain percentage; say 15%, of any production over and above her goal of 3 x her salary. Raises can then be provided in the form of increased percentages. The hygienist and the practice realize the benefit of increasing production.
  1. Base salary and wage increases on performance. If the practice is stagnating or, worse yet, languishing employees must be part of the solution, not part of your production problem. Performance measurements based on clearly defined job expectations and goals engage employees directly in the success of the practice. Focus on what needs to be achieved and exactly how to achieve it. The employees see a clear link between the practice's success and their success.
  1. Bag the bonus system. "What?!" you gasp, "There'll be an insurrection," well maybe, but then again probably not. Bonus systems that have become a perfunctory reward system for both superior performers as well as second-rate staffers create resentment. You and your few stars are doing all the work while Molly Mediocre and her merry minions are reaping the rewards. Yes. Do continue to reward outstanding and enterprising performance, but make it a special recognition for a job well done, not an annual expectation. 

Most employees want to be a part of something bigger than numbers on a balance sheet. Give them a vision, encourage them, and work with them to achieve the goals.

 

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