Is a bonus incentive program in your future?

This is probably a topic for a book rather than a blog. But I wanted to share my current thoughts with you.

In this fragile economy, it is hard to justify staff salary increases. But it has been this way for eighteen months – and there is definitely some frustration building up on the part of staff since it has been a long time since anybody got a raise.

The time to institute a bonus incentive plan is when you are at a plateau. A lot of dental practices are struggling to stay at production and collection levels achieved in calendar year 2008.

A bonus incentive plan is the perfect motivator to get all of your staff members to actually do the jobs they are being paid to do – except at higher levels of performance. Tasks like keeping the daily doctor schedule packed and productive, making proper collection arrangements, confirming Hygiene schedules and staying focused on re-activation of overdue patients, and following through on all aspects of dental insurance.

When there is a money incentive dangling in front of the staff, there is more of an immediacy and urgency to perform their jobs well – to go the extra yard-to put in the extra effort. When staff only get an hourly salary – when they perceive that there is nothing in it for them – why do today what you can do tomorrow?

It is my opinion and experience over the years that a properly constructed bonus incentive plan – introduced at the right moment – almost always works to stimulate growth. In my next blog post, I will outline the details.