By Blake Brownell
Offering a competitive package of benefits is one of the top ways dentists can attract and retain top talent. There may be a lower rate of turnover when employees feel appreciated. Sought-after employee benefits may help bring in “top shelf” new employees; ones that will reflect positively on your brand. Moreover, satisfied employees are more likely to be committed to meeting the goals and objectives of your practice.
We wanted to highlight seven ways that may help Seattle Study Club members grow a successful practice:
1. Health Insurance and Supplemental Insurance
(Dental and Vision)
Health insurance is one of the most sought-after employee benefits. As a business owner, you may decide to offer this benefit to try to attract and keep quality employees.
Employees also look for companies that offer supplemental insurance policies for glasses and dental procedures, or policies that include coverage for alternative treatments such as massage therapy and acupuncture.
Some employers and health insurance policies even cover the cost of a gym membership.
2. Life Insurance
Though not one of the most sought-after perks, it may be helpful to offer life insurance to your employees, and it’s generally not as costly for employers as other benefits.
Life insurance rates depend on a number of factors: age, gender and medical history, among other things. However, group coverage isn’t necessarily expensive, and individuals who may not qualify for insurance on their own may appreciate it. You might decide to offer a set amount of free group-term life insurance, then allow employees to pay for additional coverage.
3. Short- and Long-Term Disability
Short- and long-term disability insurance helps protect your staff from the costs associated with illnesses and accidents that happen outside the workplace. When the employer offers both, they may work together in tandem to provide coverage.
Coverage for short-term disability—anywhere from three months to a year, after a brief elimination period—may be more expensive than long-term disability insurance, which may cover disability or illness after a longer waiting period.
4. Paid Leave
According to one survey, paid leave is the single most valued employee benefit. Nearly 60 percent of employees believe it is vital in an occupation.
There are different types of paid leave—sick days, personal time, bereavement and vacation are the most common—and it’s your choice whether to pool some of these together or create distinct categories. You also get to decide whether your staff can let their paid leave accumulate over time.
5. Flex Time
You likely can’t offer your assistants, receptionist and hygienists the ability to work remotely all the time. What you can do instead, though, is build some flexibility into their schedules.
Allowing your employees to have more flexible schedules may also benefit you since it may cut down on the number of days your employees show up late or ask for personal time.
6. Robust Training Opportunities
It’s important to offer your entire team diverse options for training, including but not limited to continuing education within the scope of their position.
Regular, quality training opportunities may increase the chances of success of new employees within your practice. It can also provide existing employees new information that helps get them excited about developments in the dental industry.
Encourage your employees to attend training webinars, dental conferences (including virtual conferences), and other educational events. Ensure that new hires have a strong support system in place while they get their bearings, such as an assigned mentor, to try to maximize the chances that they’ll help your practice grow and stay loyal to your practice.
7. A Positive Workplace Culture
Creating a constructive workplace culture is one of the most important things you can do as a dental practice owner. When employees work in a positive environment, they tend to feel safer, more energized, and prouder of their work. Hold team meetings on a regular basis and encourage your team to ask questions or bring up concerns.
Show employees you’re committed to a work-life balance and seek to have a benefits package that meets the needs of the majority of your team and their families. Give merit raises when appropriate and within your budget.
Protect Yourself and Your Practice with Treloar & Heisel
Making sure your staff receives a great benefits package is a type of “insurance policy” for your dental practice, since happy employees are one way to pursue building a thriving business.
Treloar & Heisel provides Seattle Study Club members an important type of protection for your business: comprehensive insurance coverage. They offer disability income insurance, business loan protection, life insurance for buy-sell agreements, professional liability/malpractice insurance, and a host of other services and products.
Treloar & Heisel and Treloar & Heisel Property and Casualty are divisions of Treloar & Heisel, Inc.
Insurance products are offered through Treloar & Heisel, Inc. Treloar & Heisel, Inc. does not offer health, supplemental, or short-term disability insurance.
This content is intended for general informational purposes only and is not to be construed as advice. Please consult with a licensed insurance professional. Treloar & Heisel, Inc. and its divisions do not offer legal, HR or practice management advice. Please consult with a professional concerning these topics.