Attrition rate in the advertisement industry is at a whooping high of 30�cording to reports by AON and Forbes.
LinkedIn Survey has cited that:
In the advertising industry, the churn in talent is not necessarily associated to pay. Employees working with agencies, who are engaged, are the ones who have developed a strong sense of belongingness to their organization. This sense of belonging is derived from the thriving culture at their organization. This culture translates to a feeling of being looked after and knowing that one is being taken care of.
An important parameter which cannot be overlooked is bringing in a long-term career vision for the employees working with agencies. Companies need to work on career progression paths across all streams that will provide a transparent view of all the possible roles across the different career streams and the competencies associated with each role. Not only will this enable cross-function movement, but also, provide flexibility and multiple opportunities for career advancements.
The pandemic situation invariably got people accustomed to a flexible way of life. While plenty of companies across industries have continued with remote working, in an agency, working remotely poses a challenge as the collaboration quotient is extremely high. Agencies need to balance this by providing opportunities to flex certain work hours and certain workdays
A robust reward and recognition model goes a long way in engaging the workforce. Knowing that the work is recognized and rewarded is a very important retention tool and organizations must invest in building a full-fledged reward program if it does not exist already.
Policies that are drafted in this industry cannot be a one-size-fit all standard ones. Policies drafted for agencies must have people at the centre of its focus. They need to be well thought out, bearing in mind the dynamics at play and must be revisited time and again based on the need of the hour.
Lastly, underlying all the retention methods is the empathy that leaders can extend to their teams. This will be a culture differentiator amongst organizations. Open communication, listening with a broad mind and showing genuine interest in the well-being of their team members will make all the difference.
AVP HR, Experience Commerce
India, Maharashtra, Mumbai
Human Resource Planning - Making Your Employees Secure after the Great Resignation Human resource planning process after the Great Resignation is something of a minefield to walk through....
Human Resource Planning: 5 Steps to Better Hybrid/Remote Working Remote work and hybrid work have become a part of business like never before. Now, if you want to grow, you have to bring ...
DEI in Corporate HR: A Mental Health Perspective Business workforce diversity has become a major topic for all kinds of enterprises. On one hand, DEI activities and initiatives enhance th...
HR Coordinator for Startups: Why Entrepreneurs Should Invest in this Job Role in 2024? Startups are the ideal dream for every entrepreneur in the world. But a dream is only as good as the...
Strategic HR for Startups: How to Discover, Recruit and Engage High-Value Talent in 2024 Startup businesses have it hard in the world today for many reasons. One of the biggest is recruit...
Intern Hell: How to Avoid Dooming Yourself on Your First Job Getting an internship is hard work, particularly when you want the right job that will help you grow and learn. In 2024, if yo...
Worried About Your Employee Appraisal at Work? These Performance Management KPIs Will Help You Outperform Everyone! Employee performance appraisal is easily one of the most dreaded sessio...
HR Transformation: Why Your Startup’s Digital Transformation Plans Should Include It The startup world is gearing up for a big year in 2024. With more than 1215 billion dollar startups ...
Online Competency and Results-based Performance Management System Performance management software online systems are tools that help enhance the effectiveness of individuals and groups. S...