The global marketing industry has boomed in recent years, reaching a net worth of US$1.7 trillion according to a recent survey by Redburn and PwC. The value of marketing within any organisation is only continuing to increase, which means that it’s more important than ever to ensure your marketing department is staffed by the best professionals in the business. That can be easier said than done. Sourcing, attracting, hiring and retaining the right marketing talent for your business is no mean feat, particularly when there is a range of different things you should look for during the hiring process. Find out how you may be driving your top marketers away, and what you can do about it.
A lack of progression and career opportunities
Your marketers want clear and realistic career progression and development opportunities. This is particularly true of millennials, an extremely ambitious demographic in which 90% of workers want rapid career progression. Regardless of industry, a lack of future development is a major contributor to employee attrition, and in marketing – an industry which has the highest turnover rate of any job function – you don’t want to give your team members any extra reason to leave.
Tackle this head-on by implementing a structured development plan with each of the members of your marketing team. Marketers want to be constantly challenged and know what they need to achieve to reach the next level in their career, so set clear objectives and SMART goals to help them stay on track. Offer ongoing training in the workplace to incentivise your team members and provide opportunities for training outside of the office – for example, attending marketing conferences or taking time out to learn new digital skills. Social media, content and digital marketing will remain dominant marketing pillars in the coming years, according to the Association for Data-Driven Marketing and Advertising, but new skills and developments such as artificial intelligence, neuromarketing and user experience will become increasingly popular. Consider offering opportunities for your marketing team to learn more about these areas in order to keep them motivated and expand their skillset to help future-proof your marketing function.
A salary which isn’t competitive
If marketers feel like they are being underpaid in comparison to others in similar roles, they are more likely to look elsewhere. It’s essential that you have an idea of the industry rate for all of your marketing roles. Take a look at Marketing Week’s annual salary for a rough guideline, or browse current job ads for roles similar to those at your company to get an idea of what your competitors are offering. Salaries vary greatly across different segments in marketing, from content and digital through to user experience and search engine optimisation, and you’ll need to keep your finger on the pulse of which skills are most in demand on the market. Anyone with digital skills should be highly valued, as one quarter of marketers perceive this to be their biggest skills gap. Similarly, those marketers who have relevant industry experience, have demonstrated loyalty to your company and have added significant value should be financially rewarded for this – or they will look for a role elsewhere.
A poor work-life balance
In an increasingly connected world, work-life balance has become more important than ever – yet also harder to achieve. According to the OECD, the ability to successfully combine work, family commitments and personal life is important for the well-being of everyone in a household, yet 12% of workers in the UK work more than 50 hours per week, suggesting more can be done to balance work and leisure.
Work-life balance is particularly important to marketers, who look for flexible hours, the ability to work from home and the chance to plan and structure their own workdays. The modern commute is longer than ever – with the average commuting time into London standing at 74 minutes – so being able to juggle where and when they work can make all the difference to a busy marketing professional. Not all roles will be able to facilitate agile working, but with cloud platforms and digital-based working on the rise, there might be more flexibility amongst your department than you think.
Hold onto your top marketers with BMS
The marketing recruitment landscape is incredibly competitive, so don’t make it harder on yourself by driving your top marketers away. Work with BMS – an experienced marketing recruitment agency – to identify and hire talented and driven marketers to help your business flourish. Get in touch with us to see how we can help you.
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