Your agency’s CULTURE is the key to fighting back against The Big Quit.
The Big Quit is affecting all agencies. Here’s how to use CULTURE to keep growing despite it.
During the first 18 months of COVID-19, no one knew what might happen. Millions of people lost their jobs and thousands of businesses went under. In that environment, there were very few resignations. If you had a steady paycheck, fear of the unknown caused you to stay where you were whether happy or not.
In the past 6 to 8 months, the country has slowly come out of the pandemic. The fear of the unknown doesn’t look quite as scary as before. And a huge number of employees everywhere are now looking for something better… or at least something different.
Marketing communications agencies throughout the country are being affected by The Big Quit. Record numbers of people including many highly paid white-collar employees (even senior executives) are reevaluating the role of work in their lives… and leaving their jobs.
Many are searching for a better match between their employer’s values and their own. They want to work at companies which stand for something. Where they feel that they’re listened to and understood. Where they believe that top management is empathetic and cares about them. Where they truly matter.
They also want to actively participate in making a difference, support causes and make our world a better place.
The Big Quit is here and isn’t going away anytime soon. At Prosper Group, we believe that having a strong and employee-dedicated culture is the best defense agencies can have against it.
Why is your agency’s culture so important?
The concept of “culture” has too often been inaccurately perceived and underappreciated in business for as long as we can remember.
Culture is real. It makes a significant difference to the success of your firm. There are good cultures and bad cultures. Whether you know it or not, your agency already has one or the other.
Here are just four reasons (there are more) why a strong culture is so important today:
With the convergence of the pandemic, remote/hybrid working, the war for talent and The Big Quit, it has never been more challenging than right now to attract the best people, keep them happy and work together productively and cohesively as a team.
The mind-set of the American worker has changed. The old rules are out. You can no longer tell people what to do and expect them to do it simply because the boss says so.
Having a culture isn’t just good for retention. It will help you develop your own brand ambassadors who in turn help to attract better people and more business to the agency.
Your culture can become your agency’s most noticeable differentiator and competitive advantage both in the eyes of potential clients and prospective employees.
Consider this: “The entire point of culture is the stewardship of people in pursuit of our mission. Culture is the linchpin that ties your purpose and strategy together.” (Jenni Catron, Founder & CEO of The 4Sight Group)
The bedrock of a strong agency culture is PURPOSE.
Culture flows directly from your agency’s purpose.
Your purpose is your critically important WHY. The essence of why your agency exists. Why you do what you do. Why the best people choose to work (and stay) with you. Do you have one? Is it clear, engaging and inspiring to both clients and your people?
Purpose is not some kind of touchy-feely idea or “here today/gone tomorrow” business fad. Forbes defines purpose as “… a belief that your life matters and that you make a difference… a reason for being… a reason to wake up in the morning”. What’s more important than that?
Strong cultures align the firm’s purpose with its employees’ personal goals and values. These cultures help agency owners be more flexible, thoughtful and agile in providing their people with what they want most.
In building a strong culture, internal relationships really matter.
There have been many studies which indicate that the number one determinant of job satisfaction is the relationship of staff member to supervisor.
You can have an inspiring noble purpose and spend a great deal of time cultivating your culture but just one poor supervisor can spoil things. It’s important that the firm’s senior and mid-level leaders build strong relationships with the teams around them, spend time mentoring and take the development of your people seriously.
Simon says.
Simon Sinek, the highly respected thinker, speaker and best-selling author, has many significant and useful insights into business management today. Here’s what he has to say about the critical importance of culture.
“If you give people an environment where they feel seen, where they feel heard, where they feel understood, where they feel recognized as a human being… they’ll want to stay there for decades.” (Source: YouTube video entitled “An empathetic culture”)
That is what a strong culture will bring to your agency.
At Prosper Group, we have the team, experience and proven methodologies to help you create a business-building culture. Click here to learn about our Culture Audit.
If you’re interested in reviewing more of our thoughts on how to fight back against The Big Quit, two detailed articles are posted in our website’s Resource Library which you can access here and here. You’ll also find useful information on many other topics for agency owners.
We’re here to help you prosper.
Prosper Group exists to help the owners of independent marketing communications agencies achieve their ambitions and maximize the value of their life's work.
Our team of former agency leaders and owners focus their deep experience on implementing proven proprietary methodologies across our three practices of agency performance, owner exit planning and M&A transactions in order to drive owner and agency success.
To learn more about us, please visit www.prospergroup.net.