Did you know that staff longevity can affect your practice valuation? When determining the value of a practice, the appraiser examines historical operation factors in conjunction with predictions of future profitability and growth. Attracting and keeping a qualified staff is an important element of your practice’s overall value. Even if you are not planning to sell within the next few years, building team morale can help you minimize staff turnover and keep your employees motivated to work hard for your business. Consider enacting some of the following morale boosters into your practice:
Dress Up Days
Everyone needs the opportunity to let loose and be silly every once in a while, especially in times of high stress. Consider adding some dress up days into your weekly or monthly schedule rotation to give everyone the chance to participate in a fun challenge and show off their unique personalities. Whether you want to throw a team spirit day to root on your favorite local team or invite everyone to come dressed as their favorite movie character, dress up days bring a little bit of fun to an otherwise normal work week.
Empathetic careers like those in the veterinary field can start to weigh on individual and team morale, and it is nice to give your staff a place where they can step away for a moment and take a breath. If you have the space, try to create a relaxation room where your staff can hide away for a few moments and get recalibrated before returning to their jobs. Try to incorporate some calming colors into the decor, fill the space with comfortable chairs and couches, and encourage people to minimize sound so people can enjoy some much-needed moments of relaxation throughout the day. Giving your staff the opportunity to take even a few minutes to disconnect can work wonders on overall morale in your practice.
Free food is always a nice perk at the workplace, and it can boost someone’s mood if they come in for the day and see the break room full of pizza, donuts, or an array of fruit platters. Not only is free food a nice surprise, but it is a simple way to show your appreciation for your staff and all they do. We all get wrapped up in our daily tasks and it is easy to forget to express your gratitude to your team for the way they keep your practice running smoothly.
Total Practice Solutions Group offers information, consultation, and the support you need to successfully buy or sell a veterinary practice. Whether you need help creating an exit strategy or you are ready to sell your practice, our team of licensed brokers, many of whom are veterinarians, is here to help. Call 1-360-636-1228 or visit us online to learn more about our services. If you are ready for a free consultation, fill out this form and one of our brokers will contact you.