EP 370: The ultimate guide for investing in star employee retention with Drew McLellan

For 2021 and 2022, we’ve been in a job seeker’s market where potential employees have more power to make demands. But now, this period is cooling off as we head into a recession. This means you should be able to find good talent for less money and with fewer demands. We know it’s hard to compete with big corporations for what we can offer, but many people choose to work with agencies because they’re unique and go against the corporate grain. So once you have your star employees, how do you keep them around? This solocast, I’m focusing on how to invest in employee retention, particularly for your star players. This episode will cover three key areas where you can get creative in making your team feel valued and how to implement them in meaningful ways. It’s time to put your money where your mouth is and show your team that they matter — because that’s almost half of the employee retention recipe. Stick around for the full episode to learn the rest!

For 30+ years, Drew McLellan has been in the advertising industry. He started his career at Y&R, worked in boutique-sized agencies, and then started his own (which he still owns and runs) agency in 1995. Additionally, Drew owns and leads the Agency Management Institute, which advises hundreds of small to mid-sized agencies on how to grow their agency and its profitability through agency owner peer groups, consulting, coaching, workshops and more.

A big thank you to our podcast’s presenting sponsor, White Label IQ. They’re an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here.

What You Will Learn in This Episode:

• The biggest challenge for agency owners in 2021 and 2022
• How to creatively compete with big corporations in your employee compensation
• Why it’s so important to invest in your employees’ career growth
• What star players look for when choosing to work with an agency
• Developing a greater purpose for the work you do
• Why your employees care more than just money
• How caring more will make your team stick around longer