SEP 2018

MedEsthetics—business education for medical practitioners—provides the latest noninvasive cosmetic procedures, treatment trends, product and equipment reviews, legal issues and medical aesthetics industry news.

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BUSINESS CONSULT | By Phillip M. Perry It's a nightmare scenario for any business: A star employee suddenly resigns and accepts a position with a competing practice. Out the door goes years of experience, in-depth knowledge of your practice and industry, and perhaps a good number of hard-won patient connections. Perhaps you were even grooming that top-performing employee for a management role. "When you lose your best employees you lose not only their skills but also their leadership potential," says David Dye, President of Let's Grow Leaders, a management consulting fi rm in Washing- ton, D.C. With the nation's unemployment level hovering at just over 4 percent, most economists believe the labor market has reached a condition of full employment. As top-quality talent grows scarce, other employers will try harder than ever to lure away your best people. So how do you keep them from jumping ship? Here are some ideas. Reward Your Brightest Stars Employees can be categorized into three classes: slackers, foundationals and high achievers, notes Richard Avdoian, an employee development consultant in St. Louis. Slackers are easy to spot: They do the bare minimum to collect their paychecks. Foundational employees, in contrast, conscientiously and dependably perform their duties. They serve as reliable anchors for your business. The fi nal category consists of people who outperform. This is the group to focus on. "High achievers are driven go-getters," says Avdoian. "They are your most productive employees." These individuals can deliver up to 400 percent more productivity to a workplace than other employees, according to a survey by SAP and Oxford Economics pub- lished in the Harvard Business Review ("What High Perform- ers Want at Work," by Karie Willyerd; November 18, 2014). Those same top employees are the most likely to have wandering eyes, according to the HBR report, which found that fewer than half of high performers were satisfi ed with their current duties, and one in fi ve will likely seek a greener pasture in the next six months. "Top performers are often less than content with their jobs," Avdoian says. "Many want to further their careers by moving on to more promising positions." To keep your best people satisfi ed, make sure you give them the specifi c things they crave. And what do they want more than anything else? The answer is probably not 20 SEPTEMBER 2018 | Med Esthetics © GETTY IMAGES How to retain your top-performing employees in a hot job market. KEEP YOUR "A" PLAYERS

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