Joey Coleman | Boost Retention and Never Lose an Agency Employee Again | Ep #631

Are you worried about losing top talent at your agency? Struggling with high employee turnover that hinders your agency's growth? It can be hard to find and keep the right people to help achieve your agency's goals. Our expert guest is a repeat on the show who shares the importance of retaining employees and how you can ensure you never lose an agency employee again. Joey Coleman shares insights on how to create a remarkable employee experience to prevent turnover. He dives into the top reason employees leave and the impact it has on agency growth. You will learn practical strategies to never lose an employee again and ensure the success and scalability of your agency. Joey Coleman has spent 20 years teaching organizations how to keep their customers and employees. How? He turns them into raving fans via his entertaining and actionable keynotes, workshops, and consulting projects. With his model, he helps companies enhance the experience they’re delivering to customers or employees and how to make it as remarkable as possible. In addition to being an entrepreneur, speaker, and recovering lawyer, he is also the writer of the recently released “Never Lose an Employee Again”. In this episode, we’ll discuss: Why do companies lose employees? Are you making these mistakes during employee reviews? How to create a remarkable employee experience.   Subscribe Apple | Spotify | iHeart Radio | Stitcher | Radio FM Sponsors and Resources E2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service.   Why Do Great Agencies Lose Great Employees? If you talk to most agency owners and ask why they lose employees they’ll say it’s because they were offered more money. However, the biggest study on this matter conducted so far indicates that, yes, some employees do leave for more money. Surprisingly, though, just 9% of the people interviewed left for better compensation. What did the remaining 91% list as the reason for leaving their jobs? Well, almost 1/4 of respondents left because there wasn’t a clear path for their future with the organization. They didn’t understand what could be their next role within the company. They thought they had to leave to move upward. How do you approach the conversation about their future? Give them the option to decide. Ask them what they hope to achieve at your agency. Do they see themselves in a leadership role or do they prefer to develop their skill set? It’s important to highlight this decision doesn’t have to be set in stone throughout their time at the agency. In fact, this is a conversation you should revisit at least once a year at the annual review – which Joey believes should be a biannual review – where the employee should have the opportunity to change their answer without negative repercussions. You shouldn’t expect a level of certainty from your creative, non-client-facing employees. When you’re dealing with creatives try to think creatively about how you manage and deal with them in that way. What You Should and Shouldn't Do During Employee Reviews Would annual reviews become something employees are actually dreading? It depends on the type of workers you employ. Entrepreneurs typically hate reviews and may prefer "coaching sessions." And surely you can choose to have entrepreneurial employees. However, that structure will ensure you don’t have a good retention. Instead, employees who like stability and like to know what will happen in the immediate future will almost always appreciate a review. They like to know that their work is being appreciated and areas where they can improve. However, there are some things you definitely SHOULDN’T do, like walking into the review announcing you’ll be pointing out the areas where the employee is deficient. You also shouldn’t use that to justify not giving a raise. Instead, Joey recommends 360 reviews, where you’ll review your team members and they’ll review you all well. He likes to structure these reviews with STOP, START, and CONTINUE questions. In this sense, you could ask employees “What are some things I should stop doing and why? What are some things I should start doing? And “What is something I’m doing that you’d like for me to continue to do?” Pay special attention to the answer for CONTINUE because that’s where you’ll learn what’s most important to them. This way, you’ll cultivate an environment of honesty and accountability without being overly critical. Are You Incentivicing Employee Burnout? What is the actual workload you’re expecting employees to handle? Many agency owners don’t realize that employees start complaining about not having a healthy work-life balance because that’s how much they feel they’re expected to work. We’re expecting the work time to dip into their personal lives. When was the last time you took two consecutive weeks of vacation? If you can’t even remember the last time you did that, how can your employees think it is acceptable behavior? 3 Ways to Create a Remarkable Employee Experience Recognize that onboarding a new employee should be measured in months, not hours. So many owners think they’ll quickly bring a new arrival up to speed and they’ll immediately start producing. Stop thinking that way. Instead, take everything you’d like them to learn and break it into a day-to-day framework over the course of weeks. Avoid new hires remorse. After accepting a job offer, an employee will doubt themselves and start wondering if they should’ve asked for more money or taken a different offer. This will occur between the moment of accepting the job offer and their first day in their new position. Normally, the communication they’ll get from the company leader during that time is nothing. Instead, use that time to reaffirm their choice. Get clear on your personal psychology. Whether spending time at the shrink, meditating or at a mastermind, you need people on the outside of the agency who feel comfortable holding up a mirror and be honest about how you’re showing up. Team Time is Sacred: Prioritizing Employee Meetings Most agency owners will move heaven and earth for a client meeting but will constantly cancel meetings with team members. Nothing destroys engagement more than giving your team signals that they don’t matter. Those are the meetings that should never be canceled. Candidly, you have more clients than employees and clients will be easier to replace. Do You Want to Transform Your Agency from a Liability to an Asset? If you want to be around amazing agency owners that can see what you may not be able to see and help you grow your agency, go to Agency Mastery 360.  Our agency growth program enables you to take a 360-degree view of your agency and gain mastery of the 3 pillar systems (attract, convert, scale) so you can create predictability, wealth, and freedom.