Frustrated you’re not getting a raise?
You work long, hard hours in the veterinary hospital, busting your butt for every patient every day, right? You deserve a raise for all that work. But annual—or sometimes-annual or sometimes-whenever—reviews come and go and (insert sad trumpet noise here) no raise.
If visits are down or revenue is flat or down and the money’s not there, what you might not have considered are other benefits your practice owner provides or could provide. Below are the percentage of practice owners who offer these noncash benefits, courtesy of Benchmarks 2015: A Study of Well-Managed Practices (Veterinary Economics and Wutchiett Tumblin and Associates):
Employees at Well-Managed Practices responding to the same survey ranked competitive wages way higher than competitive benefits. But sometimes practices aren’t in a position to offer wage increases: 55 percent of practice owners said they offer noncash benefits instead of a pay increase.
Are you satisfied—would you be satisfied—as an associate or veterinary team member with creative, noncash compensation?
You can read more about associate and team compensation and job satisfaction in Benchmarks 2015: A Study of Well-Managed Practices.