Indie media agency This is Flow to give its staff up to 50% of profits
Independent media agency This is Flow has announced it will pay out its profits to its staff from between 5% and 50%.
The announcement:
Full-service media independent agency, This is Flow, has today announced the creation and implementation of its new operation model – Flow Profit Share. Flow is rewriting the rules on how an agency should run, and have decided to give back to their most important asset driving growth – their people.
The new growth incentive will see the agency pay out profit in a sliding scale from 5% up to 50%. This guaranteed payment will be included in all contracts and will be over and above the staff’s annual salary – so it is unlike any other standard bonus.
“It’s not just a future plan, Flow has experienced significant growth over the last year, and we want to share that success with our team. We have backdated the incentive to include last year’s results as well,” said Jimmy Hyett, Founder & CEO of This is Flow.
This unique ‘people first’ model is something that many others can’t do, but Flow believes it will not only help maintain some of the strongest talent retention in the industry, but also add to the high appeal for new talent wanting to work with the agency.
To be eligible for the profit share staff must achieve 70% or higher in their performance review; must have worked with Flow for a minimum of 6 months; must still be employed September 1 st , or at the time of payout.
“It’s our belief that the agency of the future should have the ability to innovate, not just in the work, but the whole business. I hope this model will cause a stir in the industry, especially in this climate where it almost seems ludicrous to give away profits. However, we care about our future and want our staff to be on the same journey as us because when they succeed, so do we,” Hyett added.
Source: This is Flow media release
