By Chad Rudel, Physician Recruiting Manager, The Medicus Firm
Skin In The Game
Skin In The Game. Everyone’s heard that cliché. But what does it really mean? It could mean having a vested interest or having stake in something or doing what it takes to achieve a goal. It is a term coined by renowned investor Warren Buffet to refer to the situation in which high-ranking insiders use their own money to buy stock in the company they are running. The idea behind creating this situation is to ensure that corporations are managed by like-minded individuals who share a stake in the company. Executives can talk all they want but they have the best vote of confidence when their own personal money is on the line. Let’s talk about how Skin In The Game relates to your career. Do you have Skin In The Game in your career search? Better yet, does your recruiter or consultant?
As a successful physician recruiting consultant, I have seen all too many times the pitfalls of physicians such as yourself trusting their career search to recruiters or headhunters who no more have Skin In The Game than a horse has wings. But before you throw your hands in the air, rest assured there is a way that you can leverage the use of a true professional physician staffing and recruiting consultant to your advantage in searching for that perfect career or practice move. First let’s examine the best approach when working with such professionals.
- Make it a point to learn as much about them and have your own qualifiers before submitting your curriculum vitae and agreeing to share information.
- Inquire as to whether the recruiter, headhunter, physician staffing or recruiting consultant is contingent or retained. How this professional derives their compensation may tell you a lot about how the process will unfold. It could be a matter of whether you are solicited TO or consulted WITH.
- Inquire as to whether they have personally visited with clients and their respective communities.
- And it never hurts to ask how long he or she has been in their profession and if they have references.
Find the Best Physician Jobs
Like every profession you have your good and bad…if you’re fortunate, you have your great. My goal in writing this article is to help you ferret out the great. My first recommendation is; though it may be very tempting to share basic information with recruiters and headhunters, beware of who you contact or use caution when divulging information. You do not want to be bombarded with senseless phone calls and emails about opportunities that only touch the surface of what you are looking for. Being a physician recruiting consultant, I am retained by my clients much the same way you’d compensate a CPA or an attorney. It is very important for a physician recruiting consultant to venture out to the community in person to evaluate the practice and get a feel for the job. He or she will have that on-site opportunity to discuss with the client the history of their recruiting efforts, why the position is open, the pros and cons of the opportunity as well as consult with them on the marketplace, contracts, business models, compensation, expectations, etc. They are now being trusted to advise and consult with the client as well as with you, the physician. A great consultant can provide far more information to you about a potential opportunity and community than you can possibly obtain on your own.
Avoid the Numbers Game
Don’t allow yourself to become part of a numbers game. Make sure your consultant understands your needs and has your best interest in mind. Pleased keep in mind, this is a relationship business. The more forthcoming you are with your consultant, the better the result. That being said you have to have a certain confidence level with your consultant. You have to feel that he or she is genuinely concerned with your situation and cares about doing the right thing. You have to feel confident and comfortable about answering questions and sharing information so that your consultant can properly assess and develop a criteria by which to better match you to employment opportunities. You want your consultant to contact you about opportunities very specific to you as they become available. I have spoken with many doctors and medical professionals and have maintained dialogue with them until the right practice opportunity presented itself. The key in short is to identify a consultant that you “click” with, someone you can open up to about your past practices, your current setting, your financial expectations, your career goals as well as the needs of your family.
Have an Open Mind
Having an open mind is critical. Case in point: I have worked with literally hundreds of physicians and most were surprised at the opportunities that were available to them. It’s because there was trust developed initially, and an open mind involved. A consultant should be more interested in obtaining the necessary information and diligently selecting opportunities for you to consider than trying to pigeon hole you into a position that only “somewhat” matches your criteria. My goal at this point is to make the physician staffing experience a pleasant and enjoyable one and whether or not it culminates into a contract being signed or not should not be the focus. Because of the front-end process and due diligence I can tell you that more successful matches have occurred on the very first interview than a multiple interview scenario although neither is a bad thing. If it’s the right opportunity you will know it. Many doctors are of the mindset that they need to go on a certain number of interviews and see them all through before making a decision. Don’t make this interviewing faux pas. You should know what you are looking for and know what you are going to do when you find it. Ask yourself this question. Are you more interested in going on a certain number of interviews or finding the right opportunity? Going on too many interviews means someone is not doing their job. You don’t have time to be leaving your practice and going on countless interviews which have no substance or validity. Therefore be selective and make sure your physician consultant is clear about what you are looking for and focusing on both short and long term. To coin the infamous phrase in the Tom Cruise hit movie “Jerry McGuire”- “Help me… help you”. There should be no pressure tactics at the end when an offer is presented to you. Any consultant worth their salt will understand that . Not every interview will end in a practice move. A great consultant will take a rifle approach as opposed to a shotgun approach and focus on direct hits and not a bunch of near misses.
Knowledge is Power
As a physician, you deal with patients all day. You cannot accurately diagnose their problems, prescribe treatment, medications or therapy without full disclosure. Knowledge is power. A physician staffing consultant’s role should be no less important. Like a physician a consultant is an experienced individual who is trained to analyze and advise a client in order to help the client make the best possible choices. You have to be willing to invest the time to allow a physician recruiting consultant to do their job which in turn benefits you, especially where your family and career are concerned. Should an offer be made and a contract signed, it is of the utmost importance that your consultant is still available for items such as medical licensing, hospital credentialing, relocating, etc. as well as act as an unbiased 3rd party in any ongoing negotiations or issues that need to be addressed between yourself and the client. That is the mark of a true physician recruiting consultant. There’s a motto that we live and die by here at The Medicus Firm, “If it’s good for the physician and good for the client-then it’s good for us”.
Be Thorough in Your Selection
Once you have identified your consultant, do yourself a favor, limit the number of recruiters and or consultants you work with. It can become quite a job in itself to manage who you are talking with and what information has been shared with whom. To be honest with you it would be no different than one of your patients seeing you and two or three other doctors at the same time. The process can become quite convoluted. The right physician recruiting consultant can become your eyes and ears in the marketplace. Keep in mind that by having your own Skin In The Game you can enjoy true representation with a consultative approach in your next job search. Be thorough in your selection of a physician staffing consultant and remember…measure twice and cut once.
Maintain a Relationship
The most rewarding aspect of what I do is staying in contact with medical professionals and their families far beyond their relocation dates and keeping updated on how their new practices are coming along and hearing how adjusted they are to their new communities. I have made many a friend and received many a wonderful reference which is the truest measure in this world of declining service. I have been privileged and honored to have been invited to weddings and graduations and have received countless Christmas Cards. Why? Because I am a physician staffing consultant…I love what I do and strive everyday to do the right thing. I wish you great success and good wishes.