How Growit Group can help your company culture positively impact your finances

Agency culture is more than just a general attitude or a “nice to have”. It’s the combination of environmental, atmospheric, and practical conditions that keep your team functioning as more than just a collection of individuals who happen to work in the same physical space. 

Good agency culture is vital for the wellbeing of your employees, this is true, but it can also help your business reach the monthly, quarterly, and yearly desired revenue – by having your team work together. 

So how do you best proceed to build an agency culture that helps you reach your goals?

Here are 3 ways Growit Group can help you build a financially beneficial agency culture:

1) Create purpose beyond profit

Already in 1992, a research was done on how an agencies culture affected its long-term economic performance.  Results showed that strong corporate cultures that facilitate adaptation to a changing world are associated with strong financial results.  These cultures highly value employees, customers, and owners – and they encourage leadership on all levels in the agency.

To maintain control of your revenue stream, it is crucial to know precisely how much profit you make per service and employee. Time tracking is the key to finding out which of your services bring you the most profit and who on your team is making the best use of their capacity.

But profit is rarely the motivation that makes your employees leap out of bed, excited to go for work in the morning.

An agency culture should first and foremost contribute to establishing a clear set of priorities which align with the agency’s overall goals. Employees who keep their core mission at heart will be more likely to stick with it, helping your agency stay on track with its identity and purpose. Then, an agency with a strong purpose may be able to encourage more individuals to buy into that purpose and complete the feedback loop.

At its core, an agency's purpose is a bold affirmation of its reason for being in business. It conveys what the organisation stands for in historical, ethical, emotional, and practical terms. No matter how it's communicated to employees and customers, an agency's purpose is the driving force that enables an agency to define its true brand and create its desired culture. Companies like Growit Group can help agencies build agency culture that will ensure both personal and financial agency growth.

2) Have processes for fewer burnouts and more growth

This brings us to the next point. While employees might be eager to fulfil a purpose, it benefits no one if this eagerness to work compromises the employees’ health.

Burnout is not the price we must pay for success. Taking care of human capital is just as important as reaching the goals of quarterly earnings.

The best way to ensure and sustain professional and financial growth in an agency is to make sure all employees live sustainable lives.

Examples of ways to ensure nobody “hits the wall” is to make room for flexible working hours and set a weekly hourly limit. One can also include light exercising and healthy food in the workday and have regular status meetings between team leaders and employees to ensure they are feeling heard and appreciated. Focusing on an excellent working environment and putting the health of employees first, is undoubtedly a sign of good agency culture.

Having processes in place from the very beginning is critical to making sure things are done properly, and resources are utilized as they should. You really can’t meet your goals if your processes and procedures won’t allow for it to happen. This is something companies such as Growit Group can help you with.

3) Share numbers and celebrate wins

Sharing financial numbers with your employees can increase each employee’s sense of ownership and responsibility. To be able to successfully share financial details internally, you must of course first have control over your finances. This you can do by, e.g. using Growit Group’s Financial blueprint or other overview tools.

It is also essential to make sure everyone is trained to understand financial numbers, and that they are aware of how they can impact the numbers with their work. If not, sharing these numbers will only cause confusion and misunderstandings. Also focus on additional metrics, so that non-financial workers can relate and feel more included.

Read more: Which areas of digital agency financials should you be focusing on?

Changing initiatives to boost financial growth, is a time-consuming and sometimes frustrating process. Take the time to celebrate milestones, so that progress is visible to everyone in the company.

Acknowledge all kinds of wins, the small as well as the larger. Problems that turned into success, good customer stories, new things that worked – they should all be marked somehow.

Make reaching goals a “competition” to create drive and reward every goal reached. The price? It could be anything from joint applause at the office or a sticker on a “bragging-wall”, to cake in the common areas or a social happening.

This way, the agencies culture contributes to a feeling of happiness when steps are taken towards financial profit in your business. “If you want something to grow, pour Champagne on it”.