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Contract Renewal Time? Negotiation Secrets For Success

Physician Assistants may believe that compensation and benefits are largely unchangeable once negotiated due to the fact that most employment is done through a contract agreement. However, in an article posted on Medscape the author argues that provider contracts are not that different from other business agreements and are subject to negotiation come renewal time. She offers tips and areas to consider when thinking about renegotiating an employment contract. First, the author suggests while employees should keep their requests reasonable, boldness can be rewarded. Expanding your knowledge of the changes in your market is a critical area for research as compensation in specialities varies from year to year. In addition, a long-term view of your employment situation can be helpful. If you can point out ways that your work helps improve on the overall goals of your organization, that may be incentive for the organization to meet your demands. Creativity with requests is also recommended. If your organization can’t afford a cash increase, perhaps a retention bonus or allowance for professional expense might be a perk. The author recommends learning how to sell your strengths as a prerequisite to asking for a raise. When planning to renegotiate, take stock of your productivity, quality metrics and patient satisfaction, as well as what you add to the value of your organization. The author concludes that, “the strategies for negotiating better compensation boil down to the same fundamental truth: The strongest business case you can make for yourself is the one that serves everybody’s self-interest.”

 

Byline: Martha L. Sikes, MS, RPh, PA-C

Posted: August 16, 2016

Source:  Medscape
Adapted from the original article.

[Image: Pixabay / Meditations]




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