Achieving Efficient Operations and a Productive, Motivated Medical Staff
Banfield is a private pet hospital system headquartered in Vancouver, Washington that operates veterinary clinics in the United States, Mexico, and the United Kingdom. Banfield is the largest general veterinary practice in the U.S. with more than 1,000 hospitals and 19,000 associates in neighborhoods across the country and Puerto Rico.
Flexible Compensation to Incentivize with More Variety
In seeking a better way to manage compensation, the HR team’s goal was to achieve more efficient operations and a more productive and motivated medical staff through delivery of an effective and tailored incentive compensation program. They sought a centralized compensation platform that would manage total compensation, while providing the ability to analyze, forecast, and audit.
Efficient Total Compensation and Rewards That Motivate
Banfield chose beqom as a total compensation platform that would give them the flexibility to offer a variety of plans to the doctors. The beqom solution manages salary, bonus, and commission-based incentives for some 3300 doctors, providing individual motivation and driving company performance. The plan for doctors consists of salary and a quarterly bonus based on percent of revenue.
Using Compensation Strategically to Drive Performance
Using beqom, Banfield has a flexible solution to meet both present and future needs for compensation management:
- The firm can attract, retain, and motivate the highly skilled talent needed for a successful operation
- Doctors are appropriately rewarded for their contributions, 4 times per year
- Compensation can be used strategically to drive performance and growth
- HR can run analytics around rewards to support decision-making
- Management has insight into compensation spending and effectiveness
- Manual procedures using spreadsheets and homegrown processes were eliminated, increasing accuracy and efficiency
- Good governance and compliance are supported with transparency and audit trails
Kirsten Barnes, Senior Business Analyst of Banfield, Banfield
"One of the main reasons we selected beqom was their ability to truly understand our requirements. We really appreciated their attention to detail and felt that ‘they got it’ when it came to addressing our needs."