Pay Systems
Do your staff members expect a pay raise every year? Have you ever checked to see if the salaries you pay them are consistent with what similar practices offer? Knowing how to compensate employees can be challenging. You want to make sure you’re paying enough to attract and retain the best employees, yet you certainly don’t want to overpay. In addition, it’s important to make sure your pay scale is commensurate with their contribution to the practice – not their longevity.
We firmly believe staff pay rates should correspond to the contributions staff members make to the overall performance of the practice. We’ll help you design a pay system that’s right for your office – where both “internal equity” and “external equity” is maintained. If paying your employees based on their contributions is a new philosophy for your practice, we’ll help you communicate this new system and explain to your employees why it’s the best approach for everyone involved.
