Dental Practice Broker Articles
Ways to Prepare Your Staff for Your Transition
If you’re selling your dental practice and you’ve put a lot of effort into building your dream team, it’s important to put your staff at ease before and during the transitional period. Don’t wait to let them know that you’re selling your practice and that a few changes may occur within the office once the transition takes place. Here are five quick tips to prepare your staff for your dental practice transition:
Don’t Skirt Around the Transition
Address your staff on an individual basis, with regard to the impending change. Be direct about the sale, your reasons for selling and praise each staff member’s contribution to the practice. Acknowledge the important role each person plays and state that you would like them to continue to perform this role.
Acknowledge that the new owner will not necessarily follow the same systems that you did, and prepare the staff mentally for the transition by giving a heads-up on what they can expect.
Develop a Transition Strategy
The sale will not happen overnight, it will take some time to prepare. Similarly, each staff member should be given enough time to prepare mentally for the changes. Create milestones in the transition strategy for when certain changes need to be made.
The hand-over process requires your involvement. Your staff need an introduction to the new owner, some insight into what he or she will bring to the practice. If the new owner has your endorsement, your staff are more likely to be accepting. You have led the practice to that point; you can also lead the staff effectively through the transition process.
Make it Clear That You Have Protection Measures in Place to Look After Your Staff
For most staff members, their job security and remuneration packages may be a source of stress. Let your team know you are batting for them and that you have arranged for their earnings to increase of remain the same.
Get Everyone On the Same Page
The transition is a branding decision and all stakeholders should be given, and give out, the same story. Each staff member should be briefed on what to say to patients who ask about the change, and they should all be relaying the same information.
|Dental Practice Transitions||Selling a Dental Practice|
|Dental Practice Valuation||Dental Practices For Sale|