Having trouble attracting new talent at your PT practice? You're not alone. Check out this article to discover the best ways you can implement immediately to bring in the best physical therapists on the job market.
Have you ever held an interview where you knew the candidate wasn't the right fit? Or worse, ran your clinic short staffed with no interviews lined up? Attracting new talent at your PT practice (especially in this environment) is a challenge every owner faces. With huge demand on the horizon for physical therapy and a shrinking talent pool, one thing is clear—your offering needs to be competitive to find the best PTs for the job.
So, how should practice owners approach hiring? How can they stand out in a busy labor market? And what can they do to keep employees happy once they've joined the team?
In this article, you'll learn about the current employment complications for physical therapists and how to find top-notch talent for your PT practice.
Attracting talent at your PT practice starts by understanding the current employment environment. According to Pew Research Center, health services is one of the top growth areas in the workforce. Physical therapists are needed more than ever, as Americans are flush with cash, and a rush of elective surgeries is creating massive physical therapy backlogs across the country. This ongoing demand translates to the need for qualified PTs.
The Bureau of Labor Statistics recently placed a "much faster than average" growth rate on the physical therapy occupation—outpacing the average profession by 13% for the next decade.
What does this all mean when it comes to hiring? The competition is tough and talent is scarce. Here's what practice owners should do to attract and retain the best PTs at their practice.
Base pay is excellent; it gives PTs consistent revenue streams. It's predictable, which is almost always a good thing.
However, revenue sharing plans are different and cater to the type of top-performing PTs you'd want to employ. These plans tie an employee's salary by connecting outcomes with income.
Burnout and motivation are two issues practice owners consistently juggle. Revenue sharing plans can alleviate those problems and give top-notch performers a pay boost for stellar performance. So, when it comes to hiring the best employees, you can stand out from other practices by giving PTs a new way to get paid while furthering the practice's goals.
Most physical therapy jobs offer full-time salaried employees a decent benefits package (apart from contract workers).
Every practice is different, but to get an idea of what to focus on in your benefits package, here are the top eight benefits employees want according to a survey by the Society for Human Resource Management:
And while some of these benefits aren't feasible for PTs—like remote work—administrative staff could benefit. Physical therapists might also value exciting workplace culture, student loan repayment assistance, and free food or snacks. Focus on building a well-rounded (and hopefully cost-effective) benefits package that separates your practice from the rest.
Gone are the cookie-cutter work shifts that start at 9 am and end at 5 pm. PTs and administrative staff have more flexibility with remote work and telehealth services than ever. Using different pay structures or rotating PTs on four-day workweeks can be effective, yet flexible schedule types.
Microsoft Japan decided to make work a bit more flexible by offering employees four-day workweeks. The result: 40% more productivity amongst workers. It's no secret that PTs are already overworked. Many top performers would jump at the chance to enjoy a four-day workweek. And with an extra day to recoup and recover—individual job performance could improve.
Advancing in your career and challenging yourself are some of the most important career features. When candidates are interviewing, they'll likely ask about advancement opportunities. PTs can get stuck in a specific role and don't feel as if they're moving forward—which is why practice owners should make it clear during the interview process that professional development is on the table.
While PT CEUs are required on a state-by-state basis, doing the bare minimum isn't going to make your employees feel like they're advancing their careers. Best practices include identifying opportunities in performance reviews and improving skills using a mix of CEUs, PT shadowing, and on-the-spot coaching. Try to isolate performance categories that can be measured to show progress over time.
We're saving the most obvious for last—money talks. Finding new talent at your PT practice isn't easy, so when you do happen to interview an outstanding candidate, offer them compensation at the top of the salary range and let them know you're doing so. Letting a top performer go for 5k-10k in annual salary is a huge mistake.
Top performers can teach others how to be better PTs, generate healthy returns for your practice, and help patients uncover the value of physical therapy.
This doesn't mean you should pay more than you can afford; just don't lowball a star PT's pay to save a few bucks.
Attracting new talent at your PT practice means going the extra mile. Practice owners who diversify their benefits packages, pay good wages and offer unique, performance-based pay structures can hire the best PTs in the job market. Once found, nurturing professional development and being a flexible employer can separate your practice from the rest.
Putting these initiatives to attract better talent takes time—a luxury for many PT practice owners. However, good people make the practice run smoothly, so putting the effort in to find great talent is essential. If you find there's not enough time to focus on what's important, there may be a way to save time by increasing daily productivity.
With our all-in-one physical therapy software, you'll breeze through EMR, scheduling, billing and much more, all from a convenient, HIPAA compliant dashboard. It's the best way for busy PT practices to master daily operations. To learn more, check out our free demo to see how MWTherapy can help you take your practice to the next level.