In a recent video, Dr. Gary Rademacher from the Business Academy addresses a common dilemma faced by clinic owners: how to decide whether or not to grant a staff member’s request for a raise. His insights offer valuable guidance for making these decisions based on performance metrics and overall contribution.
Assessing the Need for a Raise: A Data-Driven Approach
Understanding the ‘Valuable Final Product’
Dr. Rademacher emphasizes the importance of basing salary increases on tangible statistics related to an employee’s valuable final product. This term refers to the measurable output of an employee’s work, which in the context of a clinic could mean the number of new patients brought in by a marketing team member.
Setting Clear Targets
He suggests that clear targets should be set for staff, such as a specific number of new patients per week. These targets provide a benchmark against which an employee’s performance can be evaluated.
Evaluating Performance: The Role of Statistical Graphs
Bringing Data to the Table
When a staff member requests a raise, Dr. Rademacher advises them to present a statistical graph demonstrating their performance. This practice not only aids in a fair assessment but also trains staff to understand what is required for a pay bump.
Rewarding Achievement
If an employee meets or exceeds their targets, they are not only eligible for a raise but may also receive bonuses. This approach incentivizes high performance and aligns staff goals with the clinic’s objectives.
Fostering a Culture of Success and Affluence
Exchanging Value for Value
Dr. Rademacher advocates for a culture of abundant exchange within the clinic. By rewarding staff adequately for their contributions, the clinic fosters an environment of mutual success and affluence.
Providing Support for Growth
In cases where staff members are not meeting their targets, he suggests reminding them of their goals and offering additional training and support to help them succeed.
Conclusion: Building a Thriving Team
Dr. Rademacher’s approach focuses on creating a positive and productive work environment where staff members are motivated to achieve their best and feel valued for their contributions. This strategy not only benefits the employees but also enhances the overall success of the clinic.
Dr. Gary Rademacher founded Downtown’s Healthcare in Denver in 1997, eventually growing that chiropractic practice to 600 patient visits a week. In 2011, he integrated medical providers into his office, believing that the combination of chiropractic and medicine would provide the best care for his patients. He fully believes in the innate power of the body’s ability to heal itself and that medication and surgery should be a last resort. Dr. Rademacher received the Colorado Chiropractic President’s Award in 2011 and currently co-owns The Business Academy and owns My Injection Training a medical training company that has trained over 200 medical providers on ultrasound guided joint injections.
