You shouldn’t have to stress or worry about if it’s the right time to hire your next staff member.
Hiring new team members does not need to cost a lot of money or be any risk to you or your healthcare business when you do it right.
In this video, I break down exactly how to hire staff members and become profitable instantly.
Legends, Corey here. I’m actually up at Hope Island at the moment, starting to really take shape Reformer Pilates side. And also around here, We’ve got the full medics side. We’re actually three months into this new clinic as of yesterday. So really excited. It’s really starting to take shape.
We’re already attracted about a hundred and fifty new clients. Over 500 appointments. 90% of everyone they’ve ever seen has managed to rebook and we get some really, really good results and outcomes here. So absolutely loving it. So what I want to share with you guys is how to pay our staff and actually become profitable from day one.
Lot of reservations, in terms of hiring. When to hire, who to hire, is it the right time? You know, and as we know in healthcare, hiring more team members is a critical way to actually scale and actually type things to the next level. Because as we know the more team members we have, the more profit streams we can create.
And so there’s a lot of reservation when it comes to the psychology of a clinic owner, you probably relate to this, on when is it the right time to hire? So there’s a couple of rules, a couple of systems that I’m going to share with you. So a system that we use is that when you’ve reach more than 70% utilization, that is a great time to hire.
Still 30% of your team’s time is away from seeing clients. But that time tends to be taken up with the things that they actually need to do to get their job done. So notes reports, Facebook posts, calls, dashboards, things that actually they need to do in order to do their job. So when you hit 70%, this is around a good time to start hiring new talent.
Now there can be a few blockages though. Do we have enough clients for a new team member? Do we have the we’re in the final financial situation to be able to bring in a new team member? But it tends to be because majority of the time you’re always looking at what are actually is going to mean for the business and how sustainable is it going to be to actually have a full-time team member come and start with you?
A full-time team is obviously 38 hours and a client load of between forty and fifty-five patients. It’s not always the greatest approach because to actually create a caseload for a full-time team member takes time. So, great idea is actually based on my experience, I’ve found that not a lot of people when they’re looking to start at a new place or start within or reestablish themselves at new healthcare premises are looking for that full time straight, let’s get into it mentality.
They tend to be, they tend to understand that it does take time to build up a caseload and sometimes they actually might have something else that they’re still finishing up with while they roll over to you. So it’s actually better to start team members off at more of a part-time role, maybe couple of days a week, and actually having the cause and the agreement that they’re actually going to build up to more of a full-time caseload.
To actually hire team members and be profitable from day one. You need to actually break down and do the math on actually what that looks like. Now, the first goal, the first milestone that I always look at when I’m hiring is at what number, when this team member starts with me is going to be their breakeven?
When a team member comes in and they break even, they are now free to you. The goal is to get them free to you. So they don’t actually costing you money and then build up their case load from there. Do the maths. If they came in and they started working for you for two days a week and they did 8 hours a day. That would be 16 hours and say, we’ll just pick a random number.
Say you’re paying them $35 an hour. So there’s two days, eight hours, that would be $560 that they would earn across those two days. How many clients would they need to see across those two days for that team member to breakeven? Let’s say your average dollar sale was $88. So divide $88, your average dollar sale by how much their salary is going to be, or how much they’re going to be taking, which is five sixty.
If you crunch those numbers, it’s actually six, works out to be around six clients. They only need to say six clients to breakeven. What happens if they see eight or ten or twelve clients in their first week? They’re profitable from literally day one. It doesn’t have to be, it doesn’t have to cost you a lot of money.
It doesn’t have to be high risk. People don’t have to come in and start full time. People understand that it takes time to build a caseload. They understand that it takes time to become fully comfortable and have certainty and enable to live out your systems or understand your values or come in and get their head around how it is working for you.
What I’m trying to say is it doesn’t have to be high risk. What you need to do is actually look at when you’re going to hire, what’s going to be the breakeven? What’s the first milestone for them? Don’t hold back when it comes to actually bringing in new team members because new team members equals growth and new team members means additional revenue streams, and new team members means that more people you can help.
And the more people you help as a result, your company grows. And the more your company grows, the more your business grows. And the more the business grows, the business will be able to look after you and bigger and better ways.
So hope that helps. It’s how to attract a team member and be profitable from literally day one. It doesn’t have to be a huge thing. It can be nice and simple. So I hope that helps. Have a great day and I’ll check it again soon. Cheers guys. See you, bye.