The Austin Cohen Podcast
Send us Fan Mail [https://www.buzzsprout.com/2503471/fan_mail/new] Every practice owner knows the knock on the door. Your associate sits down and says "I've been here three years, I think it's time we talk about my pay." And most of us get this conversation wrong in one of two directions. Some of you give the raise on the spot just to end the awkwardness, even though nothing about the results changed. Others are sitting on 50% margins telling yourself that a doctor making 125K is already "a lot," and then wondering why your best people keep leaving to open up across town. In this episode I break down the compensation framework we use across all of our locations, where there are no ceilings on what a doctor can earn and every dollar is built around math and margins instead of tenure and feelings. I share a raise I gave early on that I never should have, a recent comp negotiation I walked a practice owner through, and the exact four pieces of a structure that kills the awkward raise conversation forever. And if you're the associate listening, don't skip this one. There's a whole segment on how to walk into your owner's office and propose a deal instead of asking for a raise, and the honest audit you need to do before you ever knock on that door. Pay for results, not for time served. And when the results show up, pay big. š© Join the newsletter for weekly business & leadership insights: http://eepurl.com/jghu5I [http://eepurl.com/jghu5I] šø Follow Austin on Instagram: Ā @draustincohen [https://www.instagram.com/draustincohen] š Explore events + resources: Ā www.draustincohen.com [ http://www.draustincohen.com]
70 episodes
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