Page 67 - The Dental Entrepreneur

The Dental Entrepreneur

Points To Remember

1. Check personal and professional references. This is an often overlooked area but you
may find some surprising facts that can save you a lot of heartache.

2. Have a probationary period for all new employees. A 60 to 90 day probation period where
an employee can be thoroughly evaluated with the understanding that neither party is
under any commitment until after the successful completion of this period.

3. Be certain that staff members are aware that their compensation is more than just their
wages. Each person should receive a statement showing the total compensation that
includes the value of the benefits.

• Paid Time Off - Vacation time has a calculated value that should be included in the
compensation package. Most offices require one full year of employment before a person
is eligible for this benefit.
• Holiday Pay - Full time employees generally receive a designated number of paid
holidays each year.
• Continuing Education - Once again, the professional development through continuing
education has a monetary value. If you don’t communicate the VALUE of all that you do

for them, you might be training them for the next dental office they will be leaving you for!.
• Health Insurance - Health insurance is a required benefit for your full time employees and

you should choose one of your state sponsored plans or include in your own plan if you
desire.
• FICA Matching - As an employer, you must pay a matching amount of social security
and Medicare taxes.
• Sick Leave - Compensated sick leave doesn’t belong in a small business. Do you think
people in today’s society need any more incentive to stay home than to pay them a
designated number of days when they are a little under the weather. NOT!
• Dental Care - Most Doctors provide free or reduced rate dental care for an employee and
possibly their immediate family. This has a value that should be calculated and reflected
in their compensation package. Just ask an insurance agent what the annual value is for
top flight dental coverage.

The Bottom line is that you do a lot for your staff other than the dollars you put in their
pockets. It is vitally important that you document it and get credit for it. The following chart
was from a recent article in Dentaltown Magazine. This should give you an idea of current
values.

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