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982: Metric Mondays: Overhead - Team Compensation Percentage – Miranda Beeson

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Manage episode 524309936 series 2799103
Content provided by ACT Dental. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by ACT Dental or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Running a business is expensive — and a large portion goes to your team. In this episode, Kirk Behrendt brings back Miranda Beeson, ACT’s director of education, to kick off a series on overhead with team compensation percentage. They break down what it is, how it impacts your practice, and what you can do to improve your numbers. To learn how to keep team compensation in a healthy range, listen to Episode 982 of The Best Practices Show!

Learn More About Miranda:


More Helpful Links for a Better Practice & a Better Life:


Episode Resources:


Main Takeaways:

  • Think of team compensation as an investment, not an expense.
  • Your team compensation percentage should be between 25% and 30%.
  • If team compensation percentage is over 30%, you are too people-dependent.
  • Define accountabilities, processes, and responsibilities to be systems-dependent.
  • Consider profit-sharing models or hourly plus commission so your team can earn more.

Snippets:

0:00 Introduction.

1:06 Team compensation percentage, explained.

3:53 How this metric impacts the practice.

10:16 What you can do to impact this metric.

16:47 ACT’s BPA.

Miranda Beeson, MS, BSDH Bio:

Miranda Beeson has over 25 years of clinical dental hygiene, front office, practice administration, and speaking experience. She is enthusiastic about communication and loves helping others find the power that words can bring to their patient interactions and practice dynamics. As a Lead Practice Coach, she is driven to create opportunities to find value in experiences and cultivate new approaches.

Miranda graduated from Old Dominion University, and enjoys spending time with her husband, Chuck, and her children, Trent, Mallory, and Cassidy. Family time is the best time, and is often spent on a golf course, a volleyball court, or spending the day boating at the beach.

  continue reading

306 episodes

Artwork
iconShare
 
Manage episode 524309936 series 2799103
Content provided by ACT Dental. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by ACT Dental or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Running a business is expensive — and a large portion goes to your team. In this episode, Kirk Behrendt brings back Miranda Beeson, ACT’s director of education, to kick off a series on overhead with team compensation percentage. They break down what it is, how it impacts your practice, and what you can do to improve your numbers. To learn how to keep team compensation in a healthy range, listen to Episode 982 of The Best Practices Show!

Learn More About Miranda:


More Helpful Links for a Better Practice & a Better Life:


Episode Resources:


Main Takeaways:

  • Think of team compensation as an investment, not an expense.
  • Your team compensation percentage should be between 25% and 30%.
  • If team compensation percentage is over 30%, you are too people-dependent.
  • Define accountabilities, processes, and responsibilities to be systems-dependent.
  • Consider profit-sharing models or hourly plus commission so your team can earn more.

Snippets:

0:00 Introduction.

1:06 Team compensation percentage, explained.

3:53 How this metric impacts the practice.

10:16 What you can do to impact this metric.

16:47 ACT’s BPA.

Miranda Beeson, MS, BSDH Bio:

Miranda Beeson has over 25 years of clinical dental hygiene, front office, practice administration, and speaking experience. She is enthusiastic about communication and loves helping others find the power that words can bring to their patient interactions and practice dynamics. As a Lead Practice Coach, she is driven to create opportunities to find value in experiences and cultivate new approaches.

Miranda graduated from Old Dominion University, and enjoys spending time with her husband, Chuck, and her children, Trent, Mallory, and Cassidy. Family time is the best time, and is often spent on a golf course, a volleyball court, or spending the day boating at the beach.

  continue reading

306 episodes

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