Spending on media continues to shift from traditional platforms to digital products and services due to a diverse range of factors, including a growing number of connected customers and the expansion of ecommerce to rapid adoption of mobile telephony. While digital spending is expected to account for more than 50 percent of media spending by the corporate community[1], there’s a major obstacle that stands in the way of businesses ready to embrace digital marketing — a lack of digital talent.
In marketing, media, and creative industries, the long-term success of a business relies on its ability to continually rethink campaigns according to changing customer needs and behaviors. However, in order to fuel the process of constant innovation, marketing agencies need a unique blend of creative insight and technical expertise.
According to a survey of almost 750 Fortune 500 companies and ad agency executives, there is a vast gap between the marketing skills required by organizations and the skill set of their workforce[2]. Most ad agencies are looking for creative candidates with deep data skills, a diverse technical skill set, and excellent soft skills to deal with clients and candidates. However, managers are facing immense challenges in finding such multi-talented individuals and are therefore compelled to rethink their work environment and culture. Many marketing agencies are hiring candidates who are strong in a number of areas, but still have a distinct specialty, such as analytics or social media.
As digital marketing practices and platforms continue to evolve, growth-oriented businesses must develop a well-thought out strategy to stay on top of technological advancements and update the skill set of their employees. Investing in training and development would not only help companies stay relevant in a highly competitive and dynamic marketing landscape, but will also enable them to attract and retain top-quality talent.
Industry-leading companies have already introduced various training and development programs to create a winning marketing team. For instance, McKinney, which is a full-service advertising agency, recently introduced a program called ‘McKinney Ten Percent’ that makes it mandatory for employees to set aside 10 percent of their time at workplace for creative innovation that’s not directly related to the business.
Put simply, in order to achieve sustainable profitability, businesses operating within the marketing, media, and creative industries must devise an action plan to recruit and retain a talented workforce.
Allen Austin makes this possible for its clients with our proven executive search and leadership development solutions that aim at helping businesses hire multi-talented executives. We use our tried and tested strategies and deep industry expertise to tailor winning solutions that help clients identify and recruit the best leadership talent that’s capable of taking their company to new heights.
[1] Global Media Report 2015, Global Industry Overview, McKinsey&Company
[2] There is a Digital Talent Gap, Adweek http://www.adweek.com/brand-marketing/there-digital-talent-gap-154709/
