Lost In Space

Last week, Boeing’s 33,000 production workers voted overwhelmingly to strike, with over 90% of members rejecting the company’s proposal of a 25% wage hike over four years (they had demanded a 40% increase). As this is being posted, they have walked out. In 2008, when they last went on strike, the 52-day work stoppage cost the company an estimated $100M per day in deferred revenue. 

It’s interesting that all this was happening while 2 astronauts sent up to the International Space Station are stranded because their Boeing Starliner experienced significant leaks that made it unreliable for earth re-entry. They are scheduled to be rescued by SpaceX in February.

Can you imagine what an increase of 40% for your team’ssalaries would do to your bottom line? It’s enough to blow the doors off. Oh sorry, that was on a Boeing jet.

At the same time, SpaceX, one of Boeing’s chief competitors in space travel, last week launched their Polaris Dawn vehicle, flawlessly propelling 4 civilians into space, at an orbit beyond the Space Station, where they performed the first ever private spacewalk.  They safely returned to earth on time.

SCOREBOARD

Do Boeing’s employees appreciate the predicament their employer is in?

Is this the time to make unreasonable wage increase demands?

Talking about kicking someone when they’re down!

Have you experienced such a disconnect from reality by employees in your practice?

How can you prevent economic dissonance and unrealistic expectations among your employees?

The answer lies in economic transparency and individual KPI’s. 

When I talk about transparency, it’s not how much the doctors makes or how much the practice grosses. It’s about the profit the practice generates, and the % of overhead represented by staff salaries and other overhead expenses.

Dr. Jones ran a transparent practice, where staff salaries were set at 25% of gross revenues (not fictitious production). The bonus system kicked in as long as that % stayed below 25%. So, when Doctor Jones sought to hire another team member, she was met with disapproval. Linda, his office manager came to her and said that the team had decided that they would take on some additional responsibilities as long as she agreed not to hire another person. They also agreed that once the practice’s collections went up, they would be OK with a new hire, as long as the % was 25% or less.

Dr. Jones’ team were motivated by self-interest, as most teams are. In this case, their interest was to keep on getting bonuses. And, they were willing to be a part of the solution rather than just complain about it.

How would your team respond in such a situation?

If the answer to any of these is “NO”, then you should consider joining THE LIBERATED PRACTICE PROGRAM. Though a membership, you’ll be giving your team access to resources that can help them become a part of the solution. Through membership, they will learn to appreciate that gross revenue means nothing, and profit means everything. Through membership they will become more invested in your success, because unlike the Boeing workers, they will understand that the practice’s success determines their success.  Through membership, they will learn that they are in the business of patient hospitality, which increases positive patient outcomes, satisfaction and perceived value.

As an aside, the mainstream media coverage of the historic SpaceX event was sparse. Could it be that some do not want to give Elon Musk more positive coverage?

It’s so important to appreciate the extent to which effortsare being made to manipulate us, so that we can protect ourselves. So many pundits, gurus and organizations have agendas that might not coincide with our own goals and objectives.

When I tried to post this on Facebook it was removed.  The reason?  “It looks like you tried to get likes, follows, shares or video views in a misleading way.”

How we are being manipulated should concern everyone.

Michael

P.S.  Stay tuned, you’ll be hearing more about a MEMBERSHIP PROGRAM shortly.