Staff turnover among Australia’s leading media agencies has fallen for the second year in a row but key industry players say there is more to be done.
A survey by the Media Federation of Australia found staff turnover at media agencies fell to 30 per cent down from 34 per cent in 2012 and 37 per cent in 2011.
Media agency Ikon CEO and MFA Board Director Dan Johns said : “We are pleased with this result but we are keen to ensure the churn level continues to reduce and there is a strong focus by the industry in achieving that” , said Mr Johns.
The record for staff turnover was reached in 2008 when the rate reached 41.2 per cent. The survey suggests that 4.9% of staff leave the industry permanently.
Recruitment firm Firebrand Talent Ignition’s Robert Stone said retaining staff was an ongoing issue for media agencies, especially among younger and middle management staff.
“People starting their careers in media agencies can be easily influenced by dollars and job titles, so are willing to move jobs relatively freely,” said Stone.
“Junior staff who have received training and exposure to working on media are often targeted by other agencies,” he said.
“Generally speaking, people in senior roles in media agencies don’t move as often as junior people, therefore there can be a lack of opportunity internally, meaning mid-level staff have to look externally for career progression opportunities.”
Overall, the survey also found staff numbers among agencies were up 12.6 per cent year-on year driven by growth in digital, analytics and people and culture.
“This is a great sign that our industry is in growth mode and we are less reliant than ever on advertising billings,” said Johns.