As a pharmacy owner, you have your hands full with all the tasks that make a profitable and successful business. Effective pharmacy management entails keeping track of inventory, documenting finances, managing stock, budgeting, hiring, and retaining good staff.
Staffing is a particular concern in the pharmacy business, with the turnover of employees affecting your financial bottom line and customer service. Pharmacy Staffing reports: “Employee turnover costs can be estimated to be, at a minimum, almost 100% of the employee’s base salary.” They continue to estimate that for a highly educated employee like a pharmacist, the cost can rise by up to 300%.
The reasons are clear—the cost of advertising, hiring, training, onboarding, and the residual impact of losing other employees, or a reduction in productivity for those remaining.
Your pharmacy technicians are also important, and staffing shortages of pharmacy techs are occurring across the country. Quiet quitting is another negative phenomenon that may affect your pharmacy business. By attending to quiet quitting, you can improve your management practices.
The idea behind quiet quitting is that employees are unhappy or otherwise dissatisfied with their job, so they do the bare minimum to get by without actually quitting or getting fired. So how do you know if an employee fits this description? The pharmacy business is a people business, and your employee’s behavior and attitude toward customers can give you the first clues. Here are some quiet quitting behaviors to look for:
Simply put, quiet quitting affects your bottom line and the financial health and stability of your business. Consumers have more options for their prescription drugs than ever before—primarily online pharmacies such as Divvy Dose, Amazon Pharmacy, and costplusdrugs.com.
The advantage you have as a community or independent pharmacy competing with online companies or other retail pharmacies in your area is the face-to-face interaction your customers have with you and pharmacy techs. Even one negative interaction can drive a customer to another business. You can’t afford disgruntled and uninvolved employees.
If you suspect that quiet quitting is affecting your business, look at the problem as an opportunity to improve and grow. Evaluate your pharmacy business through the lens of your most important asset—your employees. Pharmacy technician turnover is high in retail pharmacies, and quiet quitting can be a precursor to someone leaving your employ altogether. Simply hiring another employee while failing to address the underlying problems will repeat the cycle. Understanding the reasons pharmacy staff are dissatisfied will help you focus your efforts. Those reasons typically? Low pay, workplace stress, and a high workload due to increased hours. Some suggestions on how to prevent and deal with quiet quitting in the pharmacy industry:
Your awareness of the potential problem of quiet quitting in your pharmacy business will be a wake-up call. Take a proactive and positive approach to addressing the issue and watch your business benefit.