The Optometric Minute

Engage Staff with Open-Book Management

Gina Wesley, OD, MS, FAAO, has “opened her books” to staff and boosted engagement and motivation. Show staff how revenues and expenses play out in making a practice profitable and sustainable and their jobs secure.

 

GIVE STAFF A STAKE IN SUCCESS. Let each staff member know how their performance impacts practice profitability, and how important practice profitability is to their compensation and job security.

EDUCATE STAFF ABOUT PRACTICE EXPENSES. Giving staff a view of the practice’s financial performance allows them to see the expenses that impact the practice’s profits. When staff understands how even small expenses can have a cumulative impact on profitability, they are more motivated to be efficient. 

INCREASE PARTICIPATION. Assign each staff member to track a specific practice performance metric. At staff meetings, have them explain how that metric grew, or why it didn’t grow, on a week-to-week basis.

MOTIVATE STAFF. Show staff what it takes for the whole practice to do better, so everyone can have a salary increase, or bonus. Let employees know what it takes to keep the practice stable. Employees appreciate that additional understanding, increasing staff stability over time. 

Gina Wesley, OD, MS, FAAO, owns Complete Family Eyecare of Medina, Minn. To contact her: drwesley@cecofmedina.com

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