Higher pay, career advancement, and a better work environment have been the three biggest drivers of dentist and team member turnover in 2024.
Dental leaders at this summer’s Dykema dental service organization (DSO) conference shared how employee expectations combined with marketplace pressures have led DSOs to adjust salaries, benefits, and perspectives.
C-suite turnover at DSOs
Staffing changes have occurred at every level.
“Starting in January 2023, we saw a lot of restructuring and layoffs from some of the larger dental groups,” Jon Fidler, CEO of Fidler & Associates, an executive search firm, said.
“Up until 2023, money was flowing well for the acquisition side due to favorable interest rates, doctors looking to transition, and more practices joining DSOs. In 2023, the rates skyrocketed, financing was tougher to get, and sellers became more timid because the multiples were lower. Dental groups that had primarily grown through M&A had to shift and show same-store growth instead, which can take a different skill set. That led to leadership changes at a lot of companies. I think the bulk of layoffs have happened, but some groups are still tightening up,” Fidler said.
Source: How DSOs are solving the staffing shortage in dentistry / DrBicuspid.com