Would you like to reduce employee turnover in your digital agency? Your team is your most valuable asset, and in this video, I'll give you six surefire tips to help you retain good employees.
0:00 Intro
0:35 Hire the Right People
1:19 Fire People Who Don't Match
2:16 Pay What They're Worth
2:30 Reward Your Employees
2:52 Offer Flexibility
3:12 Prioritize Employees' Happiness
1- Hire the Right People - don't bring on just anyone who can do the job. Take time to figure out your core values and hire people who fit with those values. Don't just hire for skill set, hire for culture fit. Also, determine your vision for your agency and communicate it. Are the people you're hiring the ones who can achieve your vision with you?
2- Fire People Who Don't Match - sometimes a bad hire sneaks in and that's OK. But when you realize it, get rid of them. Mentally evaluate your team this way -- consider each person coming to tell you they quit. Would you be relieved and happy or sad and disappointed? If you'd be happy then they're not a good match.
3- Pay What They're Worth - make sure the compensation demonstrates your employees' true worth. Your team is your most valuable asset, so treat them that way with fair pay and benefits.
4- Reward Your People - it's not all about the paycheck. Your team needs to feel fulfilled, so give them a sense of significance and be sure to commend them appropriately. People want to feel valued and appreciated so find ways to show your team their importance.
5- Offer Flexibility - now more than ever, people need the flexibility to have a work-life balance. Find ways to give your team the flexibility they desire, whether that's making their own hours, working from home... get creative find flexibility that works for both your team and your business.
6- Prioritize Employees' Happiness - you don't want people just going through the motions. Put their happiness first. Think of ways to build engagement and community within your team. Even consider putting someone in place specifically for this purpose.
Long term employees who are deeply committed to the success of your business are crucial. When you decrease your employee turnover, you increase your agency valuation.
Want to learn more about improving your agency valuation? Be sure you check out the rest of our videos in the KPI Series playlist.
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JASON SWENK IS AN AGENCY ADVISOR THAT GUIDES MARKETING AGENCIES THROUGH A PROVEN FRAMEWORK FOR GROWING THEIR AGENCY FASTER & EASIER.
Fresh out of college Jason was off to work for Arthur Anderson, one of the big 5 consulting firms. He quickly realized that he could never work for anyone other than himself. He decided to change direction, launch a digital agency that quickly grew to a multi-million dollar operation working with brands such as AT&T, Hitachi, and Lotus Cars. After 12 years of steady growth, the agency caught the attention of bigger agencies and Jason sold it in 2012.
Now, Jason leads a unique media company & consultancy helping marketing agencies grow & scale their agencies faster by applying the framework that he used to grow, scale, and eventually sell his agency. Jason has helped over 10,000 agencies in 23 countries meet or exceed their business goals.
Jason currently hosts two shows that are available for download…
The Smart Agency Master Class Podcast, dedicated to providing tactics and strategies to agency owners and decision-makers that cut through the BS, focus on exactly what works and what doesn’t; and
SwenkToday video series that documents the entrepreneur journey of building another multimillion-dollar business, where he shares the latest strategies and answers the most burning questions entrepreneurs have.
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