80% of physios leave the profession by the age of 30… this is disastrous and unsustainable for our profession.
Therefore, as a private practice owners, unless we offer extraordinary opportunities for new graduates and beyond, we’ll struggle to fulfill our business potential.
If your aim is to try and recruit using the same strategies that all other physio practices are doing, then I want to be blunt and say, “It’s just NOT GOOD ENOUGH,” especially if you want your business to thrive and excel. You need to stand out!
Here are the reasons most leave, in order:
- Lack of career development 41%
- Inadequate compensation 36%
- Uninspiring leaders 34%
- Lack of meaningful work 31%
- Unsustainable work expectations 29%
- Unsupportive colleagues 26%
- Lack of workplace flexibility 26%
- Lack of support for health and well-being 26%
(Based on a survey of 13,382 employees in Australia, Canada, India, Singapore, United Kingdom and United States. Sourced by McKinsey and Company)
There are 3 HUGE TAKEAWAYS from this.
1) A Gold Standard Approach
Meaningful work comes from providing great outcomes and great service to our clients. It is extremely hard to expect that each member of our team will deliver a gold standard approach unless we define and inspect it.It also allows us to charge an appropriate fee for those services, which in turn allows us to pay staff what they deserve. We MUST increase the perceived value of our profession.
2) Career Development
Career progression is something that is a challenge for a small business. However it is not insurmountable. Most business owners I speak to are doing EVERYTHING or at least too much. We can hand over some of these responsibilities to our team these buildings them up. Furthermore continued up-skilling through CPD, performance coaching, meaningful appraisals etc can also help employees feel like they are continuing to progress in their career.
3) Leadership and Culture
We work with private practices all over the world and have carried out numerous business diagnostics and there’s one HUGE commonality with the most prosperous thriving elite practices and that’s SOLID LEADERSHIP.
Now your probably thinking that’s obvious, but what’s can you do about it? People talk a lot about culture and leadership and don’t know what to do about it. Here’s the good news – we do!
It is also worth checking out this great video from Simon Sinek on motivating millennials using empathy: https://www.youtube.com/watch?v=iMtG561VG64
So, if you want to help to address this issue you need to consider these three things within your business. If you are thinking I would love to but I am not sure where to start then book a strategy call today.