Incentivising staff and independent practitioners

We all know how difficult it is to find and retain great employees. Retention is an issue faced by most businesses, particularly those in client-facing industries where retaining talent can be the key to increasing profit and sustained growth.

Medical practices, particularly those who are engaged by practitioners ("independent practitioners") to provide services, are additionally tasked with maximising their appeal to those practitioners in order to generate service fees and ultimately increase revenue.

Types of incentives

Incentives are broadly categorised into two categories - non-equity and equity-based incentives.

Non-equity based incentives do not grant any ownership in the business that operates the medical practice. They tend to be governed by policies and the discretion of the business owners.