Innovation is important to clients and the market, but none of the past trendy acquisitions of large holding companies ever resulted in a fundamental change to their business model.
We instead need to create a more intelligent plan that takes into account service gaps within our existing structure, considers cultural fit among the individual agencies, and rewards cooperation and collaboration as much as individual performance.
Which in turn leaves both clients and employees dissatisfied.
This is why I believe its time for a new approach to building and managing an agency group one that values true integration, empowers forwardthinking employees and rewards real collaboration between member firms.
Integration From the Outset
First, we need to stop acquiring agencies with a sole focus on running after shiny objects, simply because a new hashtag is trending and analysts might ask questions about the future of the group.
Whether its as simple as making sure that good work is recognized enthusiastically by management, or we get creative with a system that allows the employee to earn and share value within the organization as it grows, we must do more to help employees feel taken care of and supported.
Yes, the current holding company model is one thats sure to stick around.