A Question of Value with David Dillon

Thinking like a potential buyer can be uncomfortable under “normal” circumstances. We are definitely not in a normal world right now, so our concept of business value has changed. Yet, potential buyers still look at a business as a function of cash flows and risk.

The ongoing impact of COVID-19 provides many challenges for business leaders trying to increase the value of their agency. One key aspect is the impact on the agency team, and how engaged they are.

Employee engagement is a significant challenge as we approach the one-year anniversary of the outbreak of COVID-19. Engagement impacts many business metrics, including client satisfaction, productivity and profitability. While challenging in remote work situations, keeping the team engaged has a big impact on agency value.

New questions to consider: What actions can you take to keep your key team members engaged? What opportunities are there to increase the capabilities of your team? What recognition and feedback?

Next steps: Create an action plan to strengthen your team engagement in the weeks ahead. A more engaged team results in a more valuable agency.