205. Unveiling the True Value of Wages with Total Compensation Statements

In today's Daily Dental Podcast, Dr. Addison Killeen explores a common challenge – employees comparing pay rates with other job offers. Dr. Killeen emphasizes the importance of avoiding emotional reactions and instead uses a strategic approach. He advocates for the use of total compensation statements, breaking down hourly pay, vacation hours, retirement benefits, healthcare subsidies, and other perks. By calculating the total cost and comparing it to potential job offers, employees gain a holistic view of their compensation. Dr. Killeen encourages practitioners to adopt this method to educate and retain their teams effectively.