Jul 31, 2022
In Welcome to the Forum
However, with these few questions, deciding which agency to trust, and ultimately hire will be smoother. Do you know your average retention rate? What is the retention rate attributed to. Will there be staff rotations in between campaigns. An average retention rate across all industries is roughly 90%; give or take for some like fast food and grocery stores, which see a retention rate closer to 0%. For marketing and PR agencies, it’s a little closer to 30%. It costs a lot in both person-hours and opportunity loss to continually train Industry Email List incomers through an agency’s revolving door of employees. For a client, there is double the frustration when an agency runs through employees as quickly as a Hummer does fuel. These frustrations can run the gamut from a new employee getting to know the ins and outs of their client to the client not knowing who to call when an emergency happens. Unfortunately, when agencies have lower than average retention rates, clients soon find themselves looking for the door too. All companies, even advertising agencies, reach a point where they might consider outside funding to help them achieve their goals, fuel growth, or keep the doors open. But – as any company on the receiving end of investment can attest – outside investors can have a significant impact on how an agency operates. From pushing the agency’s ownership to make decisions, to staffing, strategy, and growth, investors can have a significant impact on the.