The marketing and media industry must change its approach to talent recruitment and retention, writes Michael Maedel, former JWT Asia boss and now executive chairman at executive search firm Grace Blue Asia Pacific.

Like everything in the industry, the talent requirements for agencies and marketing, and the opportunities for great talent, has been turned on its head.

The pace of change in technology and how we communicate with consumers has led to a dramatic change in the retention of worthwhile talent, who now have more attractive options outside the traditional boundaries of the industry in technology brands (closer to the action) and within client organisations (closer to the data and decisions).

Within the agency environment, the skill sets needed are vastly different and more diverse than three years ago, from a leadership level through to those who execute. But holding companies and legacy agencies rooted in the past structurally and from a talent perspective – where margin growth is the predominant driver – run the risk of getting left behind.

They become less attractive to the type of entrepreneurial people who will help them respond best to clients’ business challenges, and these are the individuals who agencies need to invest in ahead of the curve.

Getting selfish

The best talent today, at all levels, is getting selfish – in a good way. They are looking to fulfil their own ambitions and want the freedom to develop their own ideas for the good of the business and clients.

It’s why we see so many people leaving the industry to start up on their own, or join digital brands and clients – particularly in markets like China. This will continue unless agencies can update their offering as a community with one voice highlighting what is better and different about working in an agency – to the leadership coming in from beyond and those starting out (not necessarily graduates).

The successful agencies will update their working and incentivisation practises to reflect what motivates these more entrepreneurial individuals.

Talent is already and will continue to be more diverse within agency and marketing teams. Hires from outside the typical hunting grounds will happen, if these individuals see an attractive opportunity for them to develop.

The more project driven businesses are more naturally entrepreneurial, and accustomed to operating a flexible model which brings in different skills as and when needed. The bigger agencies have the longer term outlook and incentive to drive a consistent brand message for clients to deliver business value – but many of them struggle to invest ahead of the curve as they try to meet financial market expectations.

In the future, it will be about the right blend; working as equal partners in a non-protectionist way across the business, without silos around individual P&Ls, to deliver results for the long term with sustainable growth of a brand, and in real time to be responsive and nimble to keep the conversation going with consumers who are always on.

Talent scarcity

There is a scarcity of talent everywhere, and at all levels, ready to cope with the challenges the industry is facing.

In many Asian markets there is more demand than supply at a leadership level, so relatively junior individuals are progressed quickly with titles which do not reflect the depth of experience required, who have not had the chance or the time to build a level of experience that is helpful to clients.

That said, there is an amazing wave of up and coming talent in the region, who, through the emergence of technology and their comfort with it, have leapfrogged over some of the developed markets in terms of their sophistication in this area of the business.

In Europe, there is plenty of talent, but there is a problematic attitude in terms of change, plus there are broader macro-economic factors which limit progress; it offers a low growth environment, unlike Asia, paralysed governments and as a region it is not entrepreneurially friendly.

Strong culture

What is clear is that money and titles are no longer sufficient. We see successes where there is a strong culture, an investment in an individuals’ career development, long term training, and a chance to have true influence at a leadership level.

Financially speaking, those organisations often have structured incentivisation plans which motivate performance for the long term and give individuals something to strive for.

One of the most impressive holding companies we work with globally start up agencies in new markets by empowering local entrepreneurs to build the agency from the ground up, rather than through acquisition. They have impressive retention rates at all levels beyond earn out as a culture has been built and respected which prizes great work, develops people and gives its leaders on-going opportunities to keep challenging themselves and learning within the organisation as it grows.

Business problems

This is a business entirely rooted in people and their ability to solve business problems through a brand’s interaction with consumers. Given the landscape has changed irrevocably through technology, the relationship between clients, agencies and media owners needs to reflect this and be characterised by the same traits: being more responsive, faster, nimble – we call it the Agility Era.

Where the ability of leaders and organisations to act quickly, decisively and intelligently, being brave, not being afraid to test and learn, casting aside politics and fear of recrimination, and getting on with the job, will be the key to success.

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