Subcommittee Roster: James Zeliff & Travis Boston, Co-Chairs. Mitchell Rode, Officer Liaison
Members: Shane Baird, William Baker Jr., Kirsten Frederickson, Amy Grice, Martha Mallicote, Erica Paxton, Mike Pownall, Jennifer Reda, and Olivia Rudolphi,Danielle Schilpp, Mark Kinsley
Subcommittee Charge:
To ensure that members understand what current financial numbers are, what the market demands at present, and what actions they can take to increase their salaries, benefits and overall compensation to be competitive and equitable with the goal of making compensation more attractive to pursuing a career in equine practice.
Other deliverables & potential tasks:
A comprehensive salary study should be conducted for the various demographics represented in the membership including both ownership/associate status, as well as practice-type so that we have an accurate baseline of information. Such a study could be repeated in 3-5 years as a measurement of progress.
In the meantime, however, much work should be done in terms of member education in the areas of accounts receivable; appropriate fee-setting, both in terms of amounts and frequency of increase in an effort to raise the compensation of both owners and associates (and interns), and practice value. This education could come in the form of webinars, features in EVE, and presentation at the convention as “best practices”.
Additional education on the financial benefits of practice ownership and the pathway should be considered as well.
An introductory compensation survey was performed for associates following the practitioners’ summit in May, which yielded useful data. We need to determine how best to utilize and communicate this data as its review also raises more questions.
Create a full list of creative compensation and benefits ideas, along with resources to launch them
o Offer a template and checklist for practices wanting to offer student loan repayment as part of their benefits plan
o Put together a list of options and vendors who can provide financial services support and financial literacy/budgeting opportunities
This group will benefit from having business-minded discussions, as well as marketing/HR input. Ideally, several “toolkits” may form part of the deliverables.
