As the advertising industry faces higher levels of talent turnover, what strategies can be implemented to retain top employees?

S Subramanyeswar, group CEO, MullenLowe Lintas Group, chief strategy officer – APAC and head of global planning council, MullenLowe Global, and Vistasp Hodiwala, co-founder and CCO, Underdog, co-founder, Centrick, share their thoughts. 

What’s the primary reason, in your opinion, behind the rising talent turnover in the industry?

S Subramanyeswar (SS): It has been happening for quite some time but has probably accelerated in the recent past. There are multiple factors for this. One is the compensation, be it at the junior level or mid-level. It is not comparable when you rival it with startups or other available creative options. Secondly, advertising isn’t the most attractive industry now, from a creative pursuit. There are many other creative pursuits for people. People are creating stuff on their own and putting it up all over the web. There is an opportunity for them to become influencers. It’s a very open field and creatively it is highly democratised. One doesn’t have to be part of an agency to express oneself creatively.

Vistasp Hodiwala (VH): Let’s face it. The advertising agency, by whatever fancy moniker it likes to call itself, is no longer the preeminent industry that attracts talent. And it’s come down to a whole lot of factors. Once a glamorous and sought-after career path, the industry has lost quite a bit of its shine over the past decade. Everyday work feels much less creative or fulfilling for younger talent. The constant pressure to churn out content at a fast pace, with limited time for real creative exploration, leads to burnout and has brought about an existential crisis. Then there’s the lure of more attractive career opportunities. They may not offer any better work-life balance but are in most cases, more remunerative with clearly defined growth paths.

Do independent agencies foster a close-knit culture among employees when compared to networks? If yes, does this help retain talent more effectively?

SS:  If an independent agency was started by five people together, there would be a close-knit culture amongst them and maybe a few people who work closely with them. It’s not because you are independent that the entire agency will have a close-knit culture. More than that it is about bringing people together. Is there a rallying cause or point? Sometimes in a network agency, a bunch of people working on a particular brand may be very close to each other. Their particular leader may be forging a very close-knit culture. Purpose can be the common binding force.

VH: For independent agencies, culture isn’t just one of the aspects, it is THE most vigorous attribute having a bearing on every facet of the organisation. A close-knit culture flows directly from the hearts and minds of the founders and the value system they embody. The team that becomes the core of the organisation does so because each member delights in the knowledge that this is a place which will allow them to truly come into their own. It means they will not be seen as a ‘resource’ on a cost sheet, but as a living, breathing flesh and blood ally who is an important part of every important conversation within the agency’s corridors. That’s when you start to feel like you’re a part of something bigger and more meaningful. One would like to believe that a job switch merely for a slightly more attractive package then becomes a banal thing to aspire to.

Do independent agencies offer more freedom than network agencies? Or does it come down to leaders?

SS: In a network agency, if you are working on a network client, it comes with its own written rules. If it’s a brand that’s handled out of 40-50 countries, it requires certain kinds of processes. In independent agencies, one has control within themselves right there.  I won’t say network agencies don’t have the freedom, there are times when a particular client may offer great freedom to operate. Eventually, it is the partnership you forge between the agency and the client. The role of the leader is very important in terms of how motivated they are to keep the people around them.

VH: Independent agencies are fun to work with because they create an environment where creativity and risk-taking are encouraged. It means you have the freedom to fail. One can learn from mistakes, take important calls on work and grow without the fear of being berated if things occasionally fall out of place. Leadership is more hands-on and therefore open to fresh ways of seeing and doing stuff. There are exceptions to this rule though and that is why you still see heavy hitters within a couple of network agencies. In the end, it all comes down to leadership which knows how to prioritise creativity.

How do you think industry trends, such as allowing remote work, and increasing diversity and inclusion, will impact talent retention strategies at both independent and network agencies?

SS: Oe needs to respect all these trends. I am a big believer in DEI and we consciously practise it here. The more diverse and varied talent is, the agency grows better when it comes to creativity. Diverse perspectives are extremely important for any creative field to drive. But it doesn’t mean that you hire five diverse people and overnight it will change. It’s about having those people and how one nurtures that talent and what kind of culture one builds, which will yield strong results. I have been informed by the HRs that many times younger people ask during the interview about work from home policy. One has to be dynamic and see how things evolve. It does help with talent retention, there’s no doubt about it.

VH: These are indeed distinct issues and need not be clubbed together. As far as remote working is concerned, I am not a big fan of the trend. But there are times when one needs to be flexible. Diversity and inclusion have become mandates for network agencies but independent agencies do not actively seek talent through that lens, and that’s the truth. While it’s politically correct to stress diversity, it’s equally important to understand that talent retention isn’t just about hitting quotas. However, it is in the interest of any organisation to strike a balance between these factors even as it grows organically. Talent retention has more to do with the sort of environment an agency cultivates and encourages rather than an adherence to some rigid quota system.

When it comes to talent retention, what do you think about the availability and accessibility of mentorship opportunities?

SS: Because of the way the industry has evolved, talent is not being nurtured and mentored properly. For instance, take any manufacturing company, people use machines to make products and if they want better products, they make the machinery better. When it comes to advertising, people are the machinery. If people have to become better, one has to invest, mentor and help them grow in handling challenges from both job and life.

VH: Mentorship when it comes down to it, is all about that senior person making his or her time available to nurture people with patience and wisdom. It’s that secret sauce that keeps talent engaged and valued. Fresh talent has very little incentive to stay back when they don’t see personal investment in their growth. That’s when they feel stagnant and disconnected from the top leadership and no amount of perks or compensation can hold them back.

The article was first published in the February issue of Manifest. Get your copy here!