Ep. 85: Building a Great Team Despite Recent Hiring Struggles

 

In this episode, Jeff discusses the current state of the hiring market, what it means for your practice, and four ways you should to adjust so you can fill your positions of need with highly productive new staff. 

Topics:

:11 – Recent changes in the labor market and how they affect your practice

12:04 – 4 ways to be more successful at finding and onboarding great staff right now

Links:

Sample Hiring Ads - https://www.mgeonline.com/sample-hiring-ads-2

Statistics to Track - https://mgeonline.com/dental-office-statistics

Free Practice Analysis - https://www.mgeonline.com/free-practice-analysis

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Questions From This Episode

How has the labor market actually shifted according to recent data, even though unemployment itself has stayed low?

Unemployment has held steady near pre-pandemic levels around 3 percent, but job openings peaked at roughly 12 million in January 2022 and have since dropped below 10 million, and the ratio of unemployed people per job opening has climbed back up from about 0.5 in late 2021 toward 0.68 today. The market is still tight, but it's genuinely starting to loosen, even if it hasn't fully turned yet.

According to a recent NFIB small business survey, what displaced inflation as the number one problem facing small business owners?

Labor quality, cited by 23 percent of small business owners as their top operating problem, overtaking inflation, which had been the top answer just the month before. This matches what a lot of newer and prospective clients describe, the issue usually isn't just being unable to find or hire people, it's that the people they do hire often can't actually perform the job.

What's the actual definition of labor quality, and how does it apply to a dental practice?

A formula from a 1964 National Bureau of Economic Research paper defines labor quality as labor input divided by man hours, essentially how much genuinely correct, valuable work someone produces in a given amount of time. In a dental practice, that might mean a reactivation caller who books 10 appointments off 20 calls an hour versus one who books none, or a treatment coordinator who closes 80 percent of cases versus one who closes 30 percent.

Why is searching for the perfect hire actually the wrong approach, and what should a practice look for instead?

Genuinely ready-made, fully proven hires are rare, and holding out for one means most positions stay open far too long while nobody ever quite measures up to an undefined ideal. Interview performance also doesn't reliably predict job performance, someone can interview beautifully and still fail on the job, so the real approach is bringing in a good fit candidate, training them, and judging them by how they actually perform once they're doing the work.

What's the biggest mistake owners make when a new hire's numbers start slipping, and why does it matter so much?

Accepting the employee's own explanation for the underperformance, no one wants to schedule right now, nobody wants to pay, instead of looking at whether the underlying problem is actually that specific person. Jeff describes a doctor who overhauled an entire scheduling policy because one scheduler claimed nobody would come in for morning appointments, when in reality it was that scheduler, not patients in general, who couldn't make it work.

Episode Transcript

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Ep. 86: The REAL Solution to Cancellations & No-Shows

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Ep. 84: Staying Profitable as Your Practice Grows