In 2023, organizations will continue to face significant challenges: a competitive talent landscape, an exhausted workforce, and pressure to control costs amid a looming economic downturn. How employers respond could determine whether they are an employer of choice.
Upon starting my first job as a new graduate from physical therapy school, I got roped into being the lead of the social committee. What a great way to connect with my new coworkers, right? Little did I know planning and implementing “fun” for the company would be exhausting and one of the more challenging volunteer positions I have taken.
Once upon a time, a physical therapist friend of mine, Susan, was at a dance physical therapy meet-and-greet. There were some seasoned dance physical therapists at this event, and Susan approached one of them, Tanya, eager to connect.
“How many times is this going to happen?!”
The decision to reap or reinvest your business’s profits can be a difficult one. Some level of reinvestment is, of course, necessary. But striking the balance between maintaining personal financial security and assuming more risk in an ever-changing marketplace is no easy task, at least not when the practice may still be in its infancy. Creating an elaborate and detailed decision matrix to best allocate profits across your personal needs and the practice’s needs is beyond the scope of this discussion, but examining some considerations in allocating those profits remains, nonetheless, a worthwhile exercise.
