Hello and welcome to the July edition of our newsletter.
he sun is shining and everyone’s getting ready for the first Summer of restriction-free travel, more importantly, business seems to be booming for many of you, which is great to see!
For the last few months, one of the top news stories each day has been related to the increasing cost of living in the UK. In this issue, we are taking a more in-depth look at the cost-of-living crisis and what this means for employers.
Our Managing Director, Jane Braithwaite has also been busy answering Independent Practitioners’ FAQs on how to take advantage of the self-pay boom to increase your profitability and grow your business.
We would like to round up the issue by introducing you to our management team who head up our specialist teams across the business.
We are here to help provide professional services and advice for your business’, if you have any questions please don’t hesitate to contact our friendly team.
For the last few months, one of the top news stories each day relates to the increasing cost of living in the UK. The headline this morning is that inflation has hit the highest rate in 40 years and reached 9% in April 2022. Energy prices are increasing drastically as well as the cost of food, clothing and many other household items. As a result of the increase in inflation, the Bank of England has recently raised the base rate of interest for the first time in many years, putting more pressure on homeowners with higher mortgage payments. With the additional increase in National insurance, this is all putting a significant number of people in the UK under financial pressure.
What does this mean for us as employers? I think it is safe to assume that most employees would like a pay rise in their current job or they will start to look for a new role with a higher salary. As employers, there is a risk that we will lose staff if we do not take action to support our current employees.
Most employees will be demanding a pay increase at least in line with inflation so that they feel they are at least standing still in terms of their financial wellbeing. But for most employers, the prospect of giving every individual within their company an inflation-based increase is simply not a possibility.
Offering every employee, a pay rise in line with inflation is not only difficult for most employers to deliver, but economists would warn us against doing so for other reasons. I am no expert when it comes to economics, but my understanding is that economists caution us against increasing salaries across the board, which will allow spending to continue at current levels, which will cause inflation to continue to rise resulting in a vicious circle. I am happy for anyone to question this of course, as many readers of the IPT will have a far deeper understanding of the issue than I can claim to have.
Research shows us that one of the most common causes of stress for individuals is their financial well-being and this is going to become a major concern for many more in the coming months and potentially years. As employers, we also appreciate that if our teams are feeling stressed in their personal lives, they are not going to be able to perform to the best of their abilities in the workplace and extreme stress can also lead to a higher absence rate from work, due to ill health.
So, what do we do to support our employees through this difficult time?
If increasing salaries in line with inflation are not possible and not advisable, then what do we do as employers? Maybe the answer is to increase salaries where possible by a margin, not in keeping with inflation, but enough to try to alleviate the situation for individuals, especially for those on lower salaries.
There may be other ways in which employers can help by thinking beyond the immediate issue of salaries.
Several schemes may be relevant to our employees including season ticket loan schemes which aim to help employees where the cost of commuting is a major budget item. Research by the company Employee Benefits confirms that this is one of the most common benefits offered by employers, with 59% of employers doing so. The season ticket loan is an interest-free loan for employees to cover the cost of travelling to and from the workplace via modes such as tram, rail, bus, etc. Some schemes can also be used to cover parking costs too. The loan repayments are paid monthly through the employee’s net pay over a set period.
For keen cyclists, the cycle-to-work scheme could be an attractive possibility. It allows employees to save 26 to 40% on their bikes and accessories. The employee has no upfront payment, and the monthly payments are taken tax efficiently from the employee’s salary by their employer.
During the Covid pandemic, when we were all advised to work from home, if possible, the government introduced tax breaks to help alleviate higher energy bills. From April 2022 this tax break has been tightened and whilst some employees can claim, for many this is no longer possible. Without a doubt, heating costs are higher for those working from home and next Winter this will become more of an issue. If the government is not going to provide support for home workers, then employers may need to step up. For companies who have introduced a working from home strategy, there will be cost benefits associated with reducing the need for office space and a proportion of this saving could be passed on to employees to help with the increasing cost of energy.
A different type of approach would be to offer an Employee Discount Scheme to help employees save money on their purchases. These schemes offer employees discounts for products and services that they are likely to buy regularly. For example, one company called PerkBox offers discounts at Sainsbury’s and M& S.
The final suggestion is to help employees manage their finances more effectively by offering access to support services and financial training. There are lots of organisations and training providers offering such support and these could prove to be very helpful to some employees. This type of approach needs to be handled with extreme care to avoid any suggestion that employees are being judged or criticised. Over the last few days, we have seen numerous politicians slated for their comments regarding individuals being unable to budget and unable to cook. Yesterday it was suggested that individuals solve the issue by taking on extra hours or an extra job. All of these comments appear tone-deaf to individuals who are working hard just to keep their heads above water!
Again, I repeat that I am no economist, but everything I hear and read suggests that the cost-of-living crisis is going to be a long-term issue and so, as employers, we must do what we can to support our employees. One obvious solution for our employees will be to move to a better-paid job and so if we do not take action our biggest issue will be a recruitment crisis, which is time-consuming and expensive. Retaining our employees by supporting them will prove to be the best option for both employer and employee.
If you have any specific questions that you would like answered in coming editions, please do get in touch
MD of Designated Medical
At Designated Medical we believe that with the right professional team to support you, your possibilities are endless. That is why we offer flexible, experienced support for all your private practice needs. An integrated approach allows our carefully selected team members to embed into your practice, allowing you to concentrate on delivering exceptional service and care for your patients. Our experts offer bespoke support across Accountancy, Marketing, Medical PA, HR, and Recruitment and can work to suit your requirements – tailored to your practice, as and when we are needed.
An applicant tracking system, or ATS, is a software application that helps manage your recruitment workflows.
It streamlines the entire recruitment cycle from posting jobs onto numerous websites to receiving, filtering and screening applications, sharing candidate details with multiple stakeholders, communicating with candidates, scheduling interviews and giving candidate feedback.
Some ATS can also integrate with other HRIS to generate new employee records, prepare employment letters and contracts, start online induction processes and add new starters to payroll, thus reducing the admin workload and ensuring that all the proper hiring steps are followed in a timely and accurate manner.
ATS have mostly been used for volume recruitment, but an increasing number of SMEs are now using them to facilitate their recruitment activities.
When all works well, an ATS can make life much easier for recruiters, saving time and reducing costs.
In recruitment, speed is of the essence, and a good ATS can help speed up the hiring process by reaching out to candidates more quickly, retaining their interest and motivation so you don’t lose out.
It can also produce a shortlist of candidates with screening tools that enable you to set out skills, education and skills requirements, allowing you to focus on candidates who meet the necessary criteria.
However, be aware that this process can also run the risk of missing out on good candidates who have a different accreditation that is equally valid but may not be recognised by the system.
Other faults may be caused by applications being rejected if the scanner is unable to fully read CVs or fails to recognise the format.
If the system malfunctions or times out when the candidate is completing their application, is incompatible with certain browsers, is difficult to access from mobile devices or is tedious to navigate, candidates may become frustrated and give up altogether.
On the plus side, interviews can be scheduled easily and more promptly, follow up emails sent in batch and reminders set, reducing the number of hours spent in labour-intensive and repetitive processes, freeing you up to focus on interviews.
If your hiring process involves multiple stakeholders, the ATS can facilitate communication and collaboration by allowing users to access candidate profiles, make notes, leave ratings or check where they’re at in the pipeline.
Crucially, an ATS allows to you to immediately contact those that have not been successful, helping you to follow best practice and promote your reputation as a good employer.
The metrics produced by the ATS can help you to measure and analyze your recruitment statistics such as time to hire, cost per hire, most successful job sites and acceptance rates. This will enable you to make continuous improvements in your search for talent.
It can act as a repository for storing all your recruitment-related information and retains candidate records for the future in the form of a talent database.
You can create a GDPR-compliant talent pool of good candidates who may have been unsuccessful first-time round, enabling you to reach out to them as soon as another suitable position becomes available.
However, be aware of your candidates’ rights in relation to their personal data and ensure that your team has the right processes in place to manage candidate requests effectively and in line with the GDPR requirements.
Under GDPR, recruiters need to respond to candidate requests, such as updating or erasing their details, within one month and be able to prove when or how they have actioned a request.
Provide candidates with your privacy notice explaining how you process personal data when collecting information. This also applies to all candidates, including those who apply indirectly via recruitment agencies or social media.
Under GDPR, candidates will have the following rights of access:
To obtain confirmation that their data is being processed
Access to their personal data
Access to any other information relating to their data.
Any requested information must be provided free of charge unless otherwise stipulated in the ICO guidance and within one month of the request being submitted.
If a candidate asks you to correct or update their personal data, you must do so within one month. If you have shared the personal data with other parties, you must also inform them of the update.
Candidates can also request the deletion of their data although you can refuse the request in accordance with ICO guidance.
Transparency is the key principle of the GDPR and an ATS can build an audit trail of when candidate requests have been met, providing a clear history of all communications.
Storage limitation is another core principle of the GDPR, and proper steps must be taken to ensure you don’t retain your candidates’ data for any longer than is necessary. An ATS can set up an alert system warning you when a candidate is approaching their data retention limit. Their details can either be archived (if appropriate) or completely removed from the system.
Should you ever be audited or receive a candidate complaint, you need to be able to access the associated data quickly and simply and an ATS can make this process fast, simple and reliable.
The right ATS will also provide confidence in where and how your data is hosted, ensuring you do not breach any significant data storage requirements.
If this all sounds too complicated, remember that the pros can easily outweigh the cons, and a reputable ATS will provide you with the necessary tools to manage your recruitment processes effectively, professionally and ethic
Hello and welcome to the March edition of our newsletter.
e have a lot to cover this month so we’ll jump right in! Our HR and Recruitment Manager has written an insightful article this month on diversity and inclusion. We shine a light on recruitment tools, resources and techniques to help meet your diversity goals.
We take advice from experts at XERO on how to manage cash flow and income, particularly in these inflating and politically turbulent times.
At Designated we are delighted to introduce our newest member to the leadership team. Our new Head of Medical PA Services, Jo Mitchelson. I’m sure she will be in touch with you all shortly. In the meantime, please don’t hesitate to get in contact with her at email@example.com
Finally a few admin notes, we have updated the company terms and conditions and these are available on our websites should you wish to review them.
Going forward we will be distributing our newsletters on a quarterly basis, this helps us to ensure we are serving up the most valuable content and information within every communication.
Top social media trends for your 2022 medical marketing strategy
Your patients are already searching, liking and sharing their favourite products, brands and services on social media—and they’re spending more time on these sites than ever before. But this activity doesn’t stop at consumer products, they are using social media in all aspects of their lives, including their health and wellbeing requirements.
Investing in social media marketing can help you grow your business thanks to its cost-effective advertising, smooth eCommerce capabilities, and ability to give your brand a way to engage with your patients with a more human touch.
If it’s not easy for your private practice patients to find you online, they can easily become frustrated and find another provider that better serves their needs. Particularly with private health, they will actively be looking for patient testimonials and experiences, if they can’t find anything, they are likely to wonder why and gravitate to providers who do publicise testimonials and feedback in an honest and authentic way.
Social media has become an essential part of the marketing mix, with more than three billion people worldwide spending over two hours a day socializing on social networks and messaging apps. Your business can tap into this pool of potential customers to increase user engagement and gain new leads—but you need to build a social media strategy that accurately reflects your business’s goals.
That’s why looking to the experts for their social media top tips and trends can be a great place to start as you begin to build your marketing and social media strategy.
Hubspot recently shared their top to trends to look out for in 2022 and beyond>
TikTok will dominate the social media space.
Reaching new audiences will become the number one social media goal for businesses.
Companies will make more dedicated social media hires.
Augmented Reality will become consumers’ preferred way to try-on products and interact with brands.
Businesses in the B2B space will increase their investments in Instagram and Twitter.
Influencer marketing will mature in 2022.
Social advertising will become more sophisticated.
Businesses will invest in more long-form and short-form content, as well as live audio chat rooms.
Social selling demands will grow.
Consumers will crave snackable content.
There are many social media trends reports circulating but they all seem to share the same ideas, this is interesting when many brands have written off platforms like TikTok, seeing them as a fast-growing pandemic fad or influencer marketing as low return on investment.
As marketers, it is interesting to be part of an industry that is constantly evolving, and with now people more than ever using social media to inform their purchasing decisions, it has never been more important to ensure you’re making the most of the tools and platforms available to you. When social media isn’t prioritized, organizations miss out on the
opportunity to optimize platforms and turn them into revenue generators.
If you’re looking to reach new audiences, trial new platforms, increase your paid social investments or create snackable content to share your story, then our marketing team which includes experts within the social media sphere can help guide you through the process.
Diversity and Inclusion is at the heart of every business agenda. Now more than ever, HR professionals need to demonstrate the ability to develop D&I strategies to attract, recruit and retain a diverse workforce. In addition to the moral importance of adopting an inclusion strategy, a study conducted by McKinsey and Company found that businesses with a diverse workforce performed 15 -35% better than the national industry median. In another study, they also found that companies with gender diversity at the executive level were 21% more profitable than their less diverse competitors.
According to a white paper prepared by Robert Walters, 85% of employers said that increasing diversity in the workforce was a priority. Yet only 46% do not have programmes in place to attract diverse candidates. When attracting and recruiting a diverse workforce, posting the company’s policy on D&I is simply not enough. Actions and results speak louder than words. So, what can businesses do to ensure that they are not just paying lip service to D&I and taking positive action?
Recruitment tools, resources and techniques
When working with recruitment consultants, ask recruiters to provide a diverse network of candidates. Team up with consultants who have an awareness of current diversity and inclusion best practice and who can demonstrate a credible track record of building diverse candidate pools. Including diversity in your SLA with clear objectives and outcomes and highlighting the commercial implications if these are not achieved, is also a powerful lever in ensuring your diverse recruitment needs are met.
Job ads can be more carefully worded to ensure that the language targets a diverse background of candidates. Proofing tools such as Textio or Unitive can help ensure your job posts and recruitment material covers all social groups, by identifying words or phrases that may subconsciously put off professionals from certain backgrounds from applying.
Using social media as well as LinkedIn to promote your recruitment can also expose you to a wider and more diverse audience. Other tools such as gamification can help identify skills that may not normally be assessed through traditional techniques. It can also attract skilled candidates who may otherwise be discouraged from applying.
Extending recruitment fairs to non-graduates will expose your company to a wider range of potential talent that may not have academic experience but can demonstrate the right skills, capabilities and behaviours to successfully fulfil the needs of the role.
Consider how accessible your business website is to disabled users. One way to do this would be to have it tested by a group of users with different disabilities such as visual or hearing impairments, motor and cognitive disabilities, then make any adjustments where necessary.
Referral schemes offer a good incentive for existing staff to refer new candidates to the business. However, whilst this is a cost-effective aid to recruitment, be aware that it could also add a risk of unconscious bias through the perpetuation of a particular candidate type or background.
Unconscious bias is an unquestioned or automatic assumption about an individual, usually based on positive or negative traits associated with a group they belong to. In recruitment, unconscious bias prevents the recruiter from treating candidates as individuals and making automatic assumptions about the suitability of the candidate based on factors that are non-role related such as age, gender or background.
Some techniques for overcoming unconscious bias during recruitment involve providing anti-bias training for recruiters and hiring managers. Helping recruiters and hiring managers to identify areas where they may have their own unconscious biases, will help them to approach recruitment in a more fair and objective manner.
Removing certain information from CVs that are not relevant to the role, such as the name and gender of the applicant or the name of the school, college or university, channels the recruiter’s attention to focus solely on the candidate’s qualifications and experience.
Having CVs assessed by a wide range of stakeholders across the business, including staff at the same level of seniority as the candidate, provides a broader and more objective range of perspectives on the candidate’s suitability.
Avoid hiring decisions being made by one individual as this will allow unconscious bias to subtly filter out certain types of candidates who may be capable of performing the role. Include a range of stakeholders in the process to ensure fair and objective decision-making. Ensure any hiring decisions and rationale are clearly documented and transparent so that they can be easily reviewed, challenged or defended.
Finding diverse candidates for senior-level roles can be more challenging as the skills and experience required at that level is more specialised and the membership of certain professionals can be less diverse.
This creates a significant obstacle to achieving a diverse leadership team and there is a clear lack of diversity in business leadership as a whole. In order to create a more diverse workforce at senior levels, recruiters should be open to considering candidates from a variety of professional, industrial and national backgrounds who possess transferable skills, as well as considering candidates from overseas.
Mentoring can help junior employees from all backgrounds to develop into senior-level roles and encourages the nurturing of future talent from within the business. Providing training and development opportunities to all employees for future leadership roles is also an essential long-term solution.
Mentoring schemes that partner with other organisations can help improve diversity for senior management by allowing high potential staff from diverse backgrounds to connect with mentors who are also from diverse backgrounds and who can offer advice and support for their professional career development.
Onboarding can easily be overlooked as a key component to promoting D&I. Communicate your D&I goals to new employees and share any survey results, targets and action plan to demonstrate the company’s commitment.
Invite a diverse line-up to deliver the induction programme so that new joiners feel more welcomed and can see where they can succeed.
Finally, collating, preparing and analysing accurate and relevant metrics can help pinpoint any issues in recruitment and diversity. Hard facts will build support amongst stakeholders and assist in the implementation of any necessary changes in recruitment processes to ensure best practice measures.