![]() Agencies were compared to 9 other competitive industries, they ranked on the lower spectrum regarding the ability to make an impact, challenging work, and culture that fits their employees’ personalities. There’s a reason we bring this social ghost, on the mentioned survey Advertisement Agencies ranked low as a place people would be proud to work in. Transparency can go a long way when human resources are involved, as well as a more data-driven mindset. ![]() Their main input and recommendations are centered around a rebranding of their businesses under more honest and appealing light. This type of social fantasy is not a good representation for a complex and multi-layered industry like Advertising and Marketing.ĤA’s and LinkedIn ’s survey can offer some insight into what is going on in the talent landscape. On the other hand, there’s a semi-grifter type of agent, who trades their creativity and ingenuity for a quick buck. If we try to picture the collective and social figure of an advertisement creative, we could arrive at a Mad Men show type of character. So if this problematic issue in the industry is known, why does it keep happening? Why is This Phenomenon Still Happening? What you can do is tell a story that’s more compelling or tailored to the individual, about what it is they can achieve and accomplish, what sort of development and personal growth opportunities there are within the industry.” Jann Schwarz, LinkedIn ’s global director of agency holding companies said the following regarding this issue: “You’re never going to be able to outspend Google to attract talent. It is a multifaceted issue that has been going on for a while, and the main reason talent is shifting to the technological industry is related to poor growth opportunities. Salaries are also a big reason for attrition or migration to other industries, with an entry-level pay gap of around $45.000 compared to the in-house tech market, it’s no hard to see why.īut salaries are not the driving force behind the worrying metrics offered by LinkedIn. A lack of challenging work and projects from agencies was also a big issue, as well as unsatisfactory leadership. ![]() An agency can only be as good as the talent that works there.Īlmost half of the people leaving the industry cited poor opportunities for advancement and growth, according to MarketingDive. ![]() Having a constantly changing talent pool can lower the trust brands put in an agency. This is an industry that is service and relationship-based. This is definitely bad for business, a thought that would ring true in any market, but it is especially alarming when we talk about professional service businesses. It will also depend on the industry served if the agency is part of a holding company, a startup, a boutique business, or an independent operation. This data is of course spread out through the industry, attrition is not the same in digital marketing or digital advertising. According to reports done by 4As alongside with LinkedIn show that the turnover rate has increased 10% compared to related industries. ![]() Having a high employee turnover rate is a worrisome metric, and it can be a symptom of unhealthy agency culture.Īgencies have been having a retention problem for a very long time now, and the turnover gap suffered by the marketing and advertising industry has only been increasing. Having a low agency turnover rate means that you have a stable workforce and that the work conditions, like healthcare benefits and company perks, your enterprise offers are satisfactory enough that the talent decides to stay. Staff turnover rate is calculated by measuring the number of employees that leave your business in a year. Let’s take a look at what is actually going on. How do these numbers affect advertising agencies and the talent itself? What can we do as a collective, and as single agencies to improve retention ? There are steps to be taken, we need to keep some distance from the groundless belief that the industry simply is destined to have a human resources issue forever. According to ANA and Forbes, the annual turnover rate is around 30%, the second-highest rate overall, after tourism. It’s no secret that the advertising industry has a real problem with its talent. ![]()
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