Tackling Employee Turnover

Talent Is Your Biggest Asset

It’s no secret—turnover in the marketing and advertising industry is exceedingly high. The annual turnover rate for advertising reaches upward of 30 percent. The only industry with a higher turnover rate is hospitality, which sits at 37 percent. The key distinction between these two industries, however, is the transient nature of hospitality; employees often move around from resort to resort, or they only work seasonally. Why, then, is turnover in a creative industry like marketing and advertising so high?

Although answers vary, the most common reason for high turnover is lack of advancement opportunities. According to a recent LinkedIn and 4A survey, 54 percent of marketing and advertising professionals have left industry jobs because of this very reason. The second most cited reason is the desire for more challenging work. Two other popular survey results: dissatisfaction with senior management and the belief that industry professionals can easily find other jobs.

As you can see, people leave their marketing and advertising positions for various reasons, but as an industry, we can alleviate these concerns. Our first goal should be addressing the lack of advancement opportunities. Not only should you make your employees aware of the potential for advancement; you should also provide them with clear, individualized trajectories to attain that advancement. Let your employees know how they can move upward within the company. Help your team members achieve their career goals. Encourage your staff to pursue higher education and other learning opportunities. Promote mentorship whenever possible. All these acts demonstrate an investment in your employees and the ability for your team members to grow.

You also need to ensure your employees engage in meaningful work. Creative individuals want to work on projects that fill them with purpose. There will always be monotonous labor, but you want to balance that with creative opportunities, especially those that allow team members to learn new processes and solve different problems. Additionally, give your creative team credit for the good work they do. It can be difficult to credit a certain employee when many marketing and advertising projects are inherently collaborative, but you still want to give credit when it’s due. Employees need to know their work is worthwhile.

One oft-overlooked method to combat turnover is company branding. Creative agencies do a wonderful job at representing their clients’ brands, but agencies themselves may not dedicate the time and effort to promote their own brands. As a marketing and advertising outfit, you need to let potential recruits know you have a great company culture and that you support your employees. An easy way to achieve this is through social media posts and blog articles. If your company establishes its culture from the outset of the hiring process, you’re more likely to attract talent that matches your business’s mission, vision, and values.

Turnover costs companies a lot of money, yet many organizations stagnate and don’t shift their policies or cultures to combat their turnover rates. As Batman once said, “It’s not who I am underneath, but what I do that defines me.” Marketing and advertising agencies need to genuinely show they care about their employees, or else our industry will continue to experience high turnover.