Remote work is in. Rates are increasing. Talents are in high demand. Ask for what you want.

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People are leaving the advertising industry in droves, and it's challenging ad agencies trying to rebound from a crushing pandemic.

Brian Dolan, founder and CEO of remote staffing company WorkReduce, said some agencies have hundreds of open positions that they're struggling more than usual to fill as many ad professionals are leaving the industry, and called it a "watershed moment" for the industry.

Sasha Martens, founder and CEO of executive recruiting firm Sasha the Mensch, said he's seeing agencies struggling to fill even junior-level roles because "work is just not as important as it has been in the past for people." He said agencies have launched hiring sprees over the past 90 days but predicted it would be a long time before they reach pre-pandemic staffing levels.

Burnout from agency work and the desire to work remotely are among the drivers. A survey of 423 marketers and agency employees by freelance platform We Are Rosie found that 63% plan to change jobs or careers this year, 40% demand flexible hours, and every respondent said they wouldn't consider a job that doesn't offer the option of remote work.

Many agencies are expecting employees to return to the office at least a few days a week. But Dolan said a recent WorkReduce study found only 16% of senior ad execs want to return to the office. He said some execs have told him they'd look for a new job if required to return.

Jay Haines, founder of executive search firm Grace Blue, said the big ad holding companies haven't taken steps like Deloitte's recent decision to let all 20,000 UK employees work from home permanently, leading to tension between leaders and staff.

One person who requested anonymity to protect their job prospects recently quit their job at one of the big ad holding companies in search of a client-side marketing role. This person said they felt overworked and underpaid at the agency during the pandemic, which like most has been understaffed due to layoffs.

"I've reached my limit with agencies," this person said. "The issue isn't just financial. You do less day-to-day work [client-side]. Less pressure is placed on you."

Better freelancing opportunities are also driving the turnover.

"Lots of people are quitting and freelancing right now," said Elizabeth Rosenberg, who represents ad agencies as CEO of PR firm The Good Advice Company. "If you can figure out how to do it, you can make more and work half as much."

Haines said people have more options than ever as companies ramp up hiring and predicted that the job market will get hotter later this year.

"For the first time, all the power is with the worker and not the hirer," he said.

The hiring squeeze isn't unique to advertising. The US Department of Labor reported 4 million people across industries quit their jobs in April alone. Big firms like Boston Consulting Group, PwC, and McKinsey have responded by offering perks like giving employees $250 to take week-long vacations.

likehelpful

“Some candidates that have accepted multi-million dollar packages have backed off at the last minute in favor of a better offer.”

Are we talking about the advertising industry or the NBA here?

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Freelance is hot now too. As a full time senior, I made $118k pre pandemic and hated every goddam second of it. If this year continues as it has, I should break $200k.

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Oh I’m deep in that bowl.

This is pretty timely! I’m leaving advertising, myself.

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Paywall

just saw this posted on linkedin:

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