EP 475: Thinking holistically about agency employee compensation, benefits, and perks with Drew McLellan

Many agency owners reported in 2024 that one of the best things about their agencies are their employees. Despite continued biz dev struggles and slow sales cycles, agency owners have had a hard time shrinking their teams because they just love them that much.

So, this week, let’s talk about some of the ways we can think about agency employee compensation more holistically to show them our gratitude and continued support.

Agencies continue to be really competitive environments, and many of our best employees will inevitably be approached by recruiters and other agencies at some point in their careers. And the best way to keep them around is through their compensation packages.

But these shouldn’t just be about high salaries and bonuses. While important, that’s just the tip of the iceberg in showing our gratitude and support to our employees. In fact, the most impactful forms of compensation come from deeply knowing and respecting your team, and showing your personalized gratitude for their efforts and commitment to your agency.

Join me on this week’s solocast to dig a little deeper in how we can really get thoughtful about how we compensate our employees, not just with more money, but investing in their continued growth and your personal relationship with them.

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.

In This Episode:

• Looking at agency employee compensation not as an obligation, but something you do out of gratitude
• Using raises as a reward for employees adding more value to the agency
• Giving bonuses or profit sharing to celebrate hitting monthly or quarterly goals as a team
• How a good benefits package gives you a competitive advantage against other agencies
• Personalized perks and thank-yous to reward individuals go a long way
• How to know when one of your employees has gone above and beyond
• Spending time getting to know your employees and caring for those personal relationships
• Develop your compensation philosophy based on your goals and values