J a m e s
P
r i d e
,
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. d .s .
HIRINGADASSOCIATE
A R E Y O U Be p r e p a re d to in v e st the tim e necessary to search for the best person to help fu lfill y o u r long-range goals.
R EA D Y TO
SH A R E ?
ne of the biggest decisions you’ll ever m ake is hiring an associate. And you’ll m ake the decision based on a num ber of perceived benefits, such as reduced workload, more efficient use of facility, increased cam araderie and having the prospect of a buy-in. B ut do you realize how big an im pact a new associate will have on your life? You’ll have another person to m anage. Your staff will have another doctor to work with. And you’ll be delegating responsibilities th a t until now rested squarely on your shoulders. The benefits can be yours, but only if you are completely aware of w hat your decision m eans to you, your staff and your family. In other words, you m ust have a clear vision of how your associate fits into your practice—and your life—to ensure the right hiring decision. At Pride In stitute, we’ve developed a set of guidelines to test your readiness to hire an associate. These are based on years of experience in working w ith hundreds of doctors hiring associates. Consider each guideline carefully to see where you stan d before you m ake your first move. B A C K T O T H E B A S IC S : Y O U R L O N G -T E R M G O A L S
Your new associate m ust fit into your long-term goals. W hat are your long-term goals? How will your associate affect your production, practice mix and lifestyle? Your m otivation for hiring an associate m ust be linked directly to your long-term goals because, in the short run, your new associate will take up more tim e, create new challenges and cause a certain am ount of new stress. I t’s an investm ent, and if you commit your self to the long-term benefits, you’ll stand a m uch better chance of achieving your goals. Dr. Lindsay E astm an, a Pride In stitu te client from B radenton, Fla., knew exactly why he w anted an associate and was willing to spend the tim e to find the best person. JADA, Vol. 123, March 1992
115
“For me, tim e is my most valuable commodity,” said Dr. E astm an. “I began looking for an associate because I simply w anted more tim e for m yself and, more im portantly, for my family. I looked for th ree years and interview ed 50 to 75 people before I found the right person.” H iring an associate doesn’t have to take th ree years. B ut be prepared to invest the tim e necessary to search for the best person to help fulfill your longrange goals. C O M M U N IC A T E Y O U R G OALS A N D M A TC H P H IL O S O P H IE S
Once you know how your new associate will fit into your goals, will you be ready to share these goals w ith your associate? You’ll know w h at’s in it for you, but your associates will stay only if they have a clear vision of th eir own future. This includes their prospects for growth, a buy-in and independence. For th e relationship to work, your new associate m u st also reflect your practice philosophy. Before sta rtin g your search, m ake sure your philosophy is on paper. Be prepared to share it w ith your prospective can didates. T heir reaction will provide an excellent te s t of their long-term ability to work well in your practice. It’s also im portant to talk about goals, m anagem ent theories and leadership styles. Often it takes m ultiple m eetings, formal and informal, before you know you’ve found your best candidate. S H A R E F IN A N C IA L D A T A
Your associate m ay be clinically strong w ith plenty of e n th u s iasm , but have precious little exposure to running a business. 116
JADA, Vol. 123, March 1992
Will you be willing to share your total business picture by openly sharing your financial information? P a rt of this inform ation sh ar ing should be analysis of future cash flow so the associates know exactly where they’re headed. By sharing this infor m ation, you better prepare your associates for the future while you enlist th eir help in running a more efficient business today. D O C U M E N T YOUR AGREEMENT
M any doctors m ake hiring and working w ith an associate a stressful experience. T h at’s because they enter the relation ship on a handshake and let the relationship ru n its course, for better or worse. W hen a question comes up about a buyin or dissolution, th ere’s dis agreem ent, and the years invested go down the drain. You can easily avoid this situation if you’re willing to put your agreem ent on paper. This should be a four-part agreem ent w ith contingency plans to take care of any circum stances th a t m ay come up. The four parts are: the associate agreem ent, the buy-in agreem ent, the operational agreem ent and the dissolution agreem ent. C O M M IT T O DEVELOPM ENT
Once you’ve brought someone on board, will you be willing to devote considerable tim e and energy to your associate’s professional development? Will you be willing to develop a longrange plan for th eir growth w ithin your practice? If you view your associate as ju s t another employee-producer who will put money in your pocket, you can expect to be
hiring a series of new assoc iates. Likewise, if you simply relegate undesirable procedures w ithout creating opportunity for advancem ent, it simply won’t last. The associate will become frustrated. B ut if you commit the tim e to develop your associate into a colleague of equal sta tu s and responsibility, then you will begin to enjoy the best of all long-term relationships. You’ll enjoy a greater sense of cam araderie, you’ll reduce the tim e you spend m anaging and you’ll feel more secure knowing someone is being groomed to possibly buy your practice. A S S E S S IN G R E A D IN E S S
Are you ready to hire an associate? Follow these guidelines to see if you are com m itted to: "■ fitting your associate into your long-term goals; Dr. Pride is director “■ communica and founder, Pride Institute, Greenbrae, ting your goals Calif., and a wellknown lecturer on to your practice manage prospective ment. Address requests for reprints associates; to Dr. Pride, 300 ■■ m atching Drakes Landing, philosophies Suite 200, Green brae, Calif. 94904. w ith your associates; “ sharing financial data; ■■ clearly documenting your agreem ent; *■ developing your associate professionally. If you are committed to these guidelines, you have an excellent chance of hiring and developing an associate who will m ake your life and practice m uch more fulfilling. ■ T h e v iew s e x p re s s e d h e re a re th o se o f th e a u th o r a n d do n o t n e c e s s a rily re fle c t th e o p in io n o r policy of t h e A DA o r i ts su b s id ia rie s.
P
r i d e
,
d
. d .s .
HIRINGADASSOCIATE
A R E Y O U Be p r e p a re d to in v e st the tim e necessary to search for the best person to help fu lfill y o u r long-range goals.
R EA D Y TO
SH A R E ?
ne of the biggest decisions you’ll ever m ake is hiring an associate. And you’ll m ake the decision based on a num ber of perceived benefits, such as reduced workload, more efficient use of facility, increased cam araderie and having the prospect of a buy-in. B ut do you realize how big an im pact a new associate will have on your life? You’ll have another person to m anage. Your staff will have another doctor to work with. And you’ll be delegating responsibilities th a t until now rested squarely on your shoulders. The benefits can be yours, but only if you are completely aware of w hat your decision m eans to you, your staff and your family. In other words, you m ust have a clear vision of how your associate fits into your practice—and your life—to ensure the right hiring decision. At Pride In stitute, we’ve developed a set of guidelines to test your readiness to hire an associate. These are based on years of experience in working w ith hundreds of doctors hiring associates. Consider each guideline carefully to see where you stan d before you m ake your first move. B A C K T O T H E B A S IC S : Y O U R L O N G -T E R M G O A L S
Your new associate m ust fit into your long-term goals. W hat are your long-term goals? How will your associate affect your production, practice mix and lifestyle? Your m otivation for hiring an associate m ust be linked directly to your long-term goals because, in the short run, your new associate will take up more tim e, create new challenges and cause a certain am ount of new stress. I t’s an investm ent, and if you commit your self to the long-term benefits, you’ll stand a m uch better chance of achieving your goals. Dr. Lindsay E astm an, a Pride In stitu te client from B radenton, Fla., knew exactly why he w anted an associate and was willing to spend the tim e to find the best person. JADA, Vol. 123, March 1992
115
“For me, tim e is my most valuable commodity,” said Dr. E astm an. “I began looking for an associate because I simply w anted more tim e for m yself and, more im portantly, for my family. I looked for th ree years and interview ed 50 to 75 people before I found the right person.” H iring an associate doesn’t have to take th ree years. B ut be prepared to invest the tim e necessary to search for the best person to help fulfill your longrange goals. C O M M U N IC A T E Y O U R G OALS A N D M A TC H P H IL O S O P H IE S
Once you know how your new associate will fit into your goals, will you be ready to share these goals w ith your associate? You’ll know w h at’s in it for you, but your associates will stay only if they have a clear vision of th eir own future. This includes their prospects for growth, a buy-in and independence. For th e relationship to work, your new associate m u st also reflect your practice philosophy. Before sta rtin g your search, m ake sure your philosophy is on paper. Be prepared to share it w ith your prospective can didates. T heir reaction will provide an excellent te s t of their long-term ability to work well in your practice. It’s also im portant to talk about goals, m anagem ent theories and leadership styles. Often it takes m ultiple m eetings, formal and informal, before you know you’ve found your best candidate. S H A R E F IN A N C IA L D A T A
Your associate m ay be clinically strong w ith plenty of e n th u s iasm , but have precious little exposure to running a business. 116
JADA, Vol. 123, March 1992
Will you be willing to share your total business picture by openly sharing your financial information? P a rt of this inform ation sh ar ing should be analysis of future cash flow so the associates know exactly where they’re headed. By sharing this infor m ation, you better prepare your associates for the future while you enlist th eir help in running a more efficient business today. D O C U M E N T YOUR AGREEMENT
M any doctors m ake hiring and working w ith an associate a stressful experience. T h at’s because they enter the relation ship on a handshake and let the relationship ru n its course, for better or worse. W hen a question comes up about a buyin or dissolution, th ere’s dis agreem ent, and the years invested go down the drain. You can easily avoid this situation if you’re willing to put your agreem ent on paper. This should be a four-part agreem ent w ith contingency plans to take care of any circum stances th a t m ay come up. The four parts are: the associate agreem ent, the buy-in agreem ent, the operational agreem ent and the dissolution agreem ent. C O M M IT T O DEVELOPM ENT
Once you’ve brought someone on board, will you be willing to devote considerable tim e and energy to your associate’s professional development? Will you be willing to develop a longrange plan for th eir growth w ithin your practice? If you view your associate as ju s t another employee-producer who will put money in your pocket, you can expect to be
hiring a series of new assoc iates. Likewise, if you simply relegate undesirable procedures w ithout creating opportunity for advancem ent, it simply won’t last. The associate will become frustrated. B ut if you commit the tim e to develop your associate into a colleague of equal sta tu s and responsibility, then you will begin to enjoy the best of all long-term relationships. You’ll enjoy a greater sense of cam araderie, you’ll reduce the tim e you spend m anaging and you’ll feel more secure knowing someone is being groomed to possibly buy your practice. A S S E S S IN G R E A D IN E S S
Are you ready to hire an associate? Follow these guidelines to see if you are com m itted to: "■ fitting your associate into your long-term goals; Dr. Pride is director “■ communica and founder, Pride Institute, Greenbrae, ting your goals Calif., and a wellknown lecturer on to your practice manage prospective ment. Address requests for reprints associates; to Dr. Pride, 300 ■■ m atching Drakes Landing, philosophies Suite 200, Green brae, Calif. 94904. w ith your associates; “ sharing financial data; ■■ clearly documenting your agreem ent; *■ developing your associate professionally. If you are committed to these guidelines, you have an excellent chance of hiring and developing an associate who will m ake your life and practice m uch more fulfilling. ■ T h e v iew s e x p re s s e d h e re a re th o se o f th e a u th o r a n d do n o t n e c e s s a rily re fle c t th e o p in io n o r policy of t h e A DA o r i ts su b s id ia rie s.
