As a dental business coach, every year I get asked, “How do I bonus my employees?” This can certainly be a difficult decision on coming up with a logical way to pay each employee. After all, keeping payroll and overhead under control is one thing and showing your team appreciation is another. Our hearts want to spoil them, right?
What’s the end goals?
- Show Appreciation
- Help Them Buy Something For Themselves
- Bring a Smile to Their Face
- Know What They Actually Want
- Keep Payroll Under Control
In my “Coaching with Heidi Mount” Facebook group, I went into deep details on calculating a Christmas bonus. The industry standard is to keep the entire payroll under 25% of collections. This means EVERYTHING it takes to employ your team.
Your team deserves to feel appreciated and receive gifts from their boss. You can certainly ask your team for a wish list and see if you find a common theme amongst your team. I provide a two page appreciation form that the employees fill out for their boss and my clients keep the list in their employee file.
If you feel like you can’t afford to give bonuses, it’s time to evaluate your practice. Learn how to make more profit so you can reward your team. They work hard for the dental practice. I give LOTS of ways to make more profit in my book called, “Hidden Treasures; Finding The Missing Revenue In Your Dental Practice.”
- If you give different amounts of a bonus to each team member, be sure they know not to share with others. No one should discuss their wage or their bonuses with other employees.
- To bring a smile to their face, present your gift in a beautiful box with a gorgeous bow. Presentation is everything. Give words that compliment the employee as you give them their gift.
Please don’t hesitate to reserve an appointment if you would like a complimentary call with me. Look for the scheduling link on my website, message me on Instagram @HeidiMountDentalCoach or email me today.