Negotiating Pay Rise Conversations in Healthcare

Let’s be honest, it’s a tough recruitment market at the moment.
Which has meant that healthcare professionals are asking for more; in particular we are hearing a lot of requests for sizeable increases in paychecks.
And to be fair, we do want to reward our team more to help them to achieve their financial goals, right?
So how can you better navigate some of the requests? Because I’m sure you are also concerned about how these affect the sustainability of the business in the short, medium and long term - from two angles…
If you pay your team too much, then there will be little to no money left over at the end of the month for the business and, as an extension, yourself as the business owner.
If you don’t keep your team happy with their requests, they may leave for a higher paying job (because there are plenty around - likely with trade offs in other areas however!)
So let’s set the scene…
Your therapist organises a meeting with you and requests a pay rise from $90k to $100k per year, excluding super - what do you do?
Well I would start by saying thank you for feeling comfortable to have an open and honest discussion about a topic that many people struggle to talk about.
From here, “Yes, that sounds quite achievable. And what time frame are you looking to attain this pay rise in?” (as long as the pay request is reasonable!)
This question allows us to understand what they feel is reasonable. Sometimes they will say immediately, other times they will ask you when you think it can be achieved. The point of this is to let them know that it is attainable, and to open the discussion for the time period in which it can be achieved.
Next I will ask if it’s okay to create a plan to achieve their financial goal, emphasising that what they get paid is a reflection of the value that they bring to their clients, the team and the business.
In the plan itself, I would start by asking them what they would like to earn in 3 years time, before pulling it back to their current pay expectations, and assigning a meaning to the financial remuneration itself.
Because it’s extremely beneficial for both parties here to understand the expectations moving forwards over the short and long term, with a solid plan that is agreed upon, with measurable objectives and absolute transparency.
And importantly, at the end of the day, it HAS to be win-win.
There is no win in being the toughest negotiator, down to the last dollar. You may feel as though you win the negotiation, but you lose good will in the long term.
And a successful business is about building long term relationships with good, high integrity people.
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