By: Brett Tucker
According to an article in Advertising Age, a new assessment of the advertising industry shows that over 96% of the agency workforce feels like they could leave their job and get a new one elsewhere in the industry. Also, given the opportunity, 70% would consider taking a new job. Possible reasons for this state of mind could be a combination of an improving economy along with a lack of commitment given to agency employees. Agency management has become increasingly hands off over the years, which has caused a lack of training, motivation, and retention of employees. In fact, 90% of employees claim they have had to teach themselves almost all of their work responsibilities.
Andrew Bennett, the CEO of Arnold, stated in his presentation at the last 4A’s conference (American Association of Advertising Agencies), “The average Starbucks barista gets more training than the average communications employee.” The bottom line: there is simply no longer incentive for advertising employees to stay loyal to their agencies. But Bennett didn’t leave his presentation on such a bleak note for agency CEOs. He gave five potential solutions for the issue:
1) Invest in talent in the early stages, such as schools
2) Promote cross training
3) Introduce new incentives, such as educational financing or sabbaticals
4) Fix performance management
5) Engage employees in the career conversation