I was recently invited and had the pleasure to speak at Rider + Reinke Financial Group’s “Financial Lightning Round for D4 Students.”  Rider + Reinke Financial Group is a comprehensive financial services firm committed to helping their clients improve their long-term financial success. Owner, Chris Reinke, catered this event to fourth-year dental students, who will graduate from the Ohio State University College of Dentistry this spring. This was a great opportunity for the students to learn, as well as ask questions, about their financial future.

We focused the discussion on the practical issues of negotiating an associate employment relationship with a future dental practice employer. We spoke about the importance of recognizing the value that associates bring to the practice, as well as specific negotiated benefits and legal terms, such as: (i) term of agreement; (ii) compensation structures; (iii) restrictive covenants, including non-compete and non-solicitation provisions; (iv) exit strategies; and (v) buy-in provisions.

Vince also shared with the group an employment agreement checklist that can be utilized by any dental associate or dental owner to assist in facilitating discussions on employment agreement terms. It is a great tool to ensure that everyone has thought through the terms and to ensure everyone understands the other’s expectations. Feel free to access a copy of the Dental Employment Checklist here.

Nardone Comment: As one of my mentors told me long ago, before entering any employment relationship, each party, both employer and employee, should write down their 5 most important expectations of the relationship, and exchange them with each other. That should be the start of the discussion and the relationship. Great advice.

We would all be much happier in any relationship, if we took the time and really understood the other party, their thoughts, their desires, their expectations, and their overall moral compass, both in personal and professional relationships. I hope folks make good use of the checklist. Enjoy it, implement it, and share it with others.

Vince Nardone is a healthcare partner with Benesch practice and the co‑lead of Benesch’s dental/DSO practice sub-specialty group within healthcare. He is a thought leader and regular speaker in the dental industry. He may be reached at (614) 223-9326 or vnardone@beneschlaw.com.