How often to you reward your staff?
The changing trends in the dental sector are leading to lots of innovation in the marketplace at present with new technologies, new suppliers, materials and changing working practices. While this is great for the profession, it does mean that staff are having to adapt, up-skill or re-skill in some areas.
While you might think that there is little comparison between a dental business and Greggs the bakers, they have occasionally received a bad press, but more recently have been in the press due to various innovations – the vegan sausage roll being one – leading to substantial growth in profits.
Most recently, you may have heard that in addition to the 10% profit share that they award to their staff each year, they have recently awarded staff a one of bonus – in line with the improved dividend paid to their shareholders. Some will receive as much as £300 as a thank you.
Some of the lowest paid staff in a team are still essential to the performance of the business and yet are often overlooked for praise or financial reward.
We have long been advocates for our clients to recognise their nursing, administrative and other support staff for the good job they often do. It is no secret that the practices with the best staff retention rates reward their staff financially, but also recognise them for the valuable contribution they make to the practice. It doesn’t always have to have a financial element attached to the reward – sometimes a simple but public “well done” is fine – but it helps when your salary may not be too far above the living wage.
Lets face it, a 25p per hour pay rise can often be seen as derisory when the practice up the road is advertising that they pay 50p more per hour to their staff, but the equivalent £480 as a one off thank you bonus is a considerable reward.
I wonder how many consumers are reading the good news story of how well Greggs treats their staff today, thinking they’d be happy to buy their sausage roll for lunch from a bunch of enthusiastic and well paid staff. Maybe some who aren’t on a New Year diet plan. Where we do know this has a much more far reaching impact is with Greggs’ staff recruitment and retention. If they’re advertising for new recruits today, how many extra job applications will they receive?