The Secret to Employee Retention

By: The Moore Agency

The uncertainty of our current labor market is unprecedented. A record 4.5 million Americans quit their jobs this past March and your office may be feeling the effects of this worker shortage.

Turnover is second nature in communications agencies, and the Moore agency has worked for years to create a workplace culture and environment that supports a 90+ percent employee retention rate. Recognizing the growing workforce challenges that so many dental practices may be facing in this current landscape, we’re sharing a few tips to help you strengthen your employee retention.

Unlike the rest of the labor market, most employees at dentists’ offices are not leaving for remote work. Instead, the most common reasons for employee turnover in dentist offices are the desire for higher wages and feeling underappreciated or limited in career potential at their current office. To help avoid the cost and disruption of employee turnover, the following are a few best practices to help support your employee retention.

First, review your employees’ wages to ensure they are competitive in the current workforce marketplace. You can view Florida’s average salary per position in this report. If your employees’ salaries are far below average, you can’t expect your employees to stay.

With the rise of inflation and an increased cost of living, it may be time to consider an inflation bonus or cost-of-living adjustment to your employees’ salaries. This will address your employees’ need for higher wages and show them that you care and are invested in their place in your practice.

It may be difficult to implement changes in salary – inflation is affecting you too. But if you don’t compete in the salary space, you face the cost of turnover, which can range from six to nine months of an employee’s salary. It is more beneficial to retain happy employees than pay the financial and emotional cost of finding new employees every few months.

Beyond salary, there are a few ways you can collaborate with your employees to show them their worth in your workplace. For example, you should sit down with every employee to discuss their goals and what you expect from them to get there. Simply taking the time to listen will separate you from almost all other employers – it is an underrated use of time.

You can also involve your employees in setting objectives for the upcoming year. They are invested in your practice, and they may see things that you don’t see. This process will also show them that their insights are valued and create space to discuss concerns or unspoken conflicts about operations.

Whatever steps you take to help support employee retention, there is one common thread that will help you be successful: Treat your employees as people and not just workers. Everyone is different, but if you take the time to listen and treat them well, they’ll work hard and hopefully stay for a while.

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