A Question of Value with David Dillon

Merger and acquisition advisors have shared guidance to "take care of the team" as an important step to build agency value in 2020 and reduce the risk of brain drain and second tier leadership strength. This is challenging with an ongoing pandemic, remote working and the potential for another round of economic restrictions. However, the calendar provides an opportunity.

Research from both Gallup and The Best Places to Work studies reveals a strong linkage between gratitude, recognition and feedback with team engagement. Even more important is that higher engagement produces significantly better results on a variety of business indicators.

Your team has been through challenging and stressful times this year. Providing gratitude, recognition and feedback is a great step for improving team health and building a stronger, more engaged team. This not only can lead to improved business results, but also to a more valuable agency.

Next Steps: The start of the new year is a great time to double-down on gratitude and recognition on an ongoing basis. Be genuine and do it in a manner that the recipient will appreciate, but take care of the team to improve results and business valuation.