Is now your time to hire a new member to your team? Do you need to hire a receptionist, virtual assistant, chiropractic assistant, or a different Rockstar? Are they going to be an employee or independent contractor?
These are the questions to which you can find answers in six simple steps.
If you have already completed a Task Audit for Chiropractors, these steps are quickly answered by an easy running of key metrics. If you have not yet completed a Task Audit for your practice, you should definitely start there! Read this article for more information.
Step 1: Identify which tasks to delegate.
On your Task Audit spreadsheet, notate all the items you want to delegate. This could be anything from emails to managing billing. By creating a list of all tasks to delegate, you can identify what type of hire you need, if he/she should be full or part time, and how much time it will give back to you.
Step 2: Calculate the value of this new hire.
Once you know exactly how much time you can get back by delegating the selected tasks, you can calculate the money opportunity. For instance, the tasks you have selected add up to 15 hours a week. You will want to multiply those 15 hours by your hourly rate. This amount tells you how much money you can make by delegating those tasks instead of doing them yourself.
Step 3: Identify if your new hire should be contractor or employee.
Check these regulations to see if the tasks you are delegating can fall within the guidelines of a contractor. Hiring a contractor instead of employee increases your profit margin from their labor by relieving you of payroll taxes, processing fees, insurance, and other payroll expenses. If at all possible, hiring a contractor is the optimal option.
Step 4: Determine for what position you are hiring.
If you have some receptionist tasks but the job requirements can fit within the contractor guidelines, you might want to consider a Virtual Assistant. Hiring virtual contractors saves you money on office space and labor expenses, just to name a few. If the job requires an employee, then you will want to determine if you need a receptionist or chiropractic assistant.
Step 5: Check the common hourly rates for the type of hire you need.
Once you know what type of hire you are looking for, you can do a quick Google search to find out the common hourly rate for that position in your area. Multiply the common hourly rate by the number of hours the position requires. This gives you an idea of how much the position will cost you.
Step 6: Compare the cost of the position to the profit opportunity.
Take the amount you calculated in Step 2 and compare to the amount you just calculated in Step 5. Do you have at least 75% profit? If the answer is yes, then go hire a Rockstar for your team! If the answer is no, repeat these steps periodically until you can answer yes.
We developed a quick checklist to help you accurately work through the 6 steps and identify when and who to hire. Click here to download the checklist.
Is now your time to hire a new member to your team?
Do you need to hire a receptionist, virtual assistant, chiropractic assistant, or a different Rockstar?
Are they going to be an employee or independent contractor?
Did we answer your questions? We’d love to hear about it and answer any additional questions you have! Email me: email@example.com
P.S. The following are great additional reading we recommend for when you are ready to create a Rockstar team:
Traction: Get a Grip on Your Business by Gino Wickman
Who: The A Method for Hiring by Geoff Smart and Randy Street