Last month we focused attention on employee engagement as a critical impact on many business metrics, including client satisfaction, productivity and profitability. While challenging in the current mix of employee work situations, keeping the team engaged has a big impact on agency value. Potential buyers still look at a business as a function of cash flows and risk.
Current research from Gallup reports an increase in employee engagement in the U.S. following a series of fluctuations in 2020. Key contributors to the increase include increased feedback and internal communication to keep employees aware of plans, progress and timelines.
New questions to consider: Do you have a good pulse on the current level of employee engagement in your agency? What actions can you take to increase internal communication to help keep your key team members engaged? What opportunities are there to position managers to help drive the effort? What opportunities for providing recognition and feedback can you focus on in Q2?
Next steps: Create communication and feedback plan to strengthen your team engagement in the second quarter. A more engaged team results in a more valuable agency.
David J. Dillon, Principal
Watney Insights Network, Inc.
WatneyInsights.com
ddillon@watneyinsights.com
703-648-0584 (O)
703-785-9440 (M)
Independent Insurance Agents of Virginia