Do you want to show up more creatively for your clients and your colleagues, your family, and your friends?
Do you want to default to thinking about opportunity versus focusing just on problems?
Discovering Hope is full of proactive steps you can take right now, to achieve a more positive mindset or to help maintain the positivity you already have
Getting Positive reveals that more optimism is close at hand
Strategy Jobs Market Update – May 2024
Fulltime Roles â In the last several weeks there has been a mild uptick in hiring of creative and brand planners/strategists, but this has to be seen in context. This market is still very tight. I’m talking with a number of you still being given news that your job has been cut.
Freelance Roles – For many of the freelancers/consultants, 2022/2023 were good years but 2024 is a different story. This year many of you have experienced a clear reduction in opportunities. This is a factor of less work generally, of brands and through them agencies, reluctant to spend on freelance, which is more expensive than hiring someone full-time.
Across Markets – In the last three months, I’ve met with
strategists in a number of markets including Sao Paolo, Amsterdam, Los Angeles, Miami, New York and London. The picture I am seeing is consistent across markets. There are always nuances that effect each market differently but one that is a key driver (as well as AI) is the cost of money.
Where is the strategy jobs market heading?
There’s plenty in the way of holding company ârecalibrationâ which will drive
uncertainty for some time yet that said the simplistic, optimistsâ viewâŠ
The reason this jobs market feels ‘incremental/replacement/defensive’
versus one of ‘investment’ hiring is because of a CFO fear that until
central banks communicate a confidence that interest rates are on a downward trajectory, they might actually go up! Yes, once we see a reduction in interest rates itâs my belief that CFOâs will then have the confidence to allow greater investment in jobs. We’re getting closer to this point. Stay positive.
Roll on interest rate cuts which if nothing else will cut brands and agencies some slack.
Onwards,
Identifying a Great Place to Work in 2024
(five minute read)
Unsure about your job security, I always say, âfollow the money!â And itâs usually thrown in large dobs at new business activity.
âYes,â thatâs where people are most likely to hear your cry for work, particularly if you have experience in the sector theyâre pitching.
And why so much money thrown at new business? Because agencies are not good at holding on to clients!
âThere are [fewer] clients that believe in long-term agency partnership,â (Michael Farmer, Madison Avenue Manslaughter)
He continued, “Itâs an older concept. Itâs amazing when clients [stick with one agency]. Itâs just not the way the world is now.â
Why? Because of a lack of what clients are asking for?
Client beliefs â How to Maintain Client Relationships
I recently conducted a straw poll of US, UK and European based clients asking,
âWhat factors damage a positive view of your agency killing your chances of longer-term relationships.â
âThe agency isnât seen to have expertise and knowledge.â (About the clientâs business, exactly how they make money)
âAgency personnel appear to have a lack of genuine curiosity for a clients business, meaning your interaction is more presentation versus conversation mode.
âPatterns emerge of non or sub-optimal delivery of expectation.â
âThe agency fails to communicate understanding of commercial benefitâ (For instance, how precisely is a creative recommendation going to impact specific business objectives)
âThe agency isnât up-to-date (or communicating they are) with the latest trends.â
âThe agency isnât transparent.â âWe feel we are being taken advantage of.â
Encapsulating much of what was said above one client directed,
âIf you want to sustain our relationship, donât wait for a brief to offer up a great idea. Be proactive with points of view, with cultural trends, with competitive moves, with new consumer understanding.â
Itâs clear, there is a desire to see agency personnel get on the front foot/to be more proactive. As one respondent to this summary added,
âThatâs exactly right. Then we know the agency is thinking about us after they have left the room.â
Holding Company Reaction to Stakeholder Realities
To be clear, the stakeholder priorities are shareholders then clients then employees.
The holding company reaction (of the last 20 years) to shorter client tenure. Cost reduction as a way to increase margins.
And because of this, there are regular client losses and with them reductions in job numbers.
âEvery agency starts downsizing to make their numbers.â Michael Farmer
While the industry still believes in the importance of client relationships, it continues to undermine the ability to deliver them.
Whilst 100% allocation of staff is good for book-keeping it isnât ideal if agency personnel are to get beyond a largely overburdened and âreactive dynamicâ to their work.
Along with regular job cuts, there has been a pernicious reduction of investment in the development of people, knowledge and culture.
And, a greater focus of time and investment in chasing new business, which is more expensive to acquire than organically building existing business.
The agency you should work for
Incentivizes CFOâs and key executives differently â It pays annual bonuses to staff but offers significant bonuses for KPIâs with a 3-5 year horizon encouraging investment in the businessâŠin people.
Doesnât 100% allocate staff â This agency allows bandwidth for the proactivity needed to sustain and build client relationships. In so doing it retains clients for longer.
Has Client longevity â This agency has more continuity of finance and therefore ability not only to retain staff but to invest in them too!
New Business Selective â Pitches new business very selectively and can because it reliably increases revenue each year through organic growth of existing clients.
Devoted Proactive Resourcing â This agency has a devoted âclient building strategistâ, (that used to be âpulled in toâ new business pitches) â This personâs role is to provide business building thinking/ideas each month, which are shared with clients, in so doing, changes the agency interaction from a reactive to a proactive dynamic.
What do you think? Is what I’ve written ‘pie in the sky’?
Love to hear your thoughts,
Stuart
Articles and commentary that might be of interest…
Personal Agency – Key to the Achieving Your Goals
First, sorry this is a wordy newsletter, but there are things I just wanted to say and couldn’t seem to edit.
The advertising jobs market is a real mixed bag at the moment. And by that I mean, there are as many people losing jobs as gaining them, although the way I see it, there are certainly more losses at the moment.
Many more of you are also out of full-time employment through choice. And for freelancers/consultants, the purpose of this note is key. I should add this is in part because there are so many more of you freelancing now that freelancing has become much more competitive. Everyone it seems, and for different reasons, client, agency and individual, want more flexibility, which post pandemic, most of us have more of.
The point of this newsletter is not to talk about the overall market but more for individuals either in jobs and feeling âstuckâ âunder-valuedâ and/or âvulnerable and those actively looking for their next full-time role or freelance gig.
I was recently talking with a long-standing connection, whose pretty well known in the business both by reputation and in terms of their expertise. And, for the results heâd help achieve.
Like many, heâs been looking for a job/the right job, for a while, but well connected, wasnât sweating it, and had a meeting lined up with a high-level holding company exec.â Heâd been waiting a month for this meeting but was very hopeful.
Last week I caught up with him having had the meeting and I asked him, how the meeting went.
He told me heâd had forty minute in-person meeting.
âIt was great. We caught up on the industry, world chaos and the kids.â
I was encouraged, it sounded positive.
âWhat elseâ I asked, waiting for the punchline role/roles he was going to be considered for or introductions that were being made perhaps as we spoke.
âWhat else? He replied?
âWhat did you ask him for?â I asked perhaps a bit to stern.
âI didnât ask him for anything.â His voice dying away as he responded. Immediately realizing, that the person he âisâ in front of clients had not shown up for himself, when it mattered.
I shrugged my shoulders, and politely let him know what I think many of us take for granted.
âMy friend, you âHAVEâ to let others know what you want; What you want to be considered for! At the very least, let the person in front of you know, how you want them to help you, even if itâs not a job that you want.â
âYou know this!â OK, I know I showed a bit of exasperation here..
The point, everyone you know is busy. When you are upset that they didnât âhelp you,â think about it. Did you assume theyâd know exactly what you wanted or how they could help you? If you did, you didnât âmake it easyâ for them to help you.
So many times, when it comes to âus,â we donât ask for something, either because we are complacent and assume by our reputation or resume, others know what weâre right for. While others donât have enough self-belief to understand that there are times when itâs critical to âask!â
However well-known you are/think you are or arenât, donât rely on others telling your story for you, unless you specifically âhaveâ someone that gets rewarded to tell your story for you.
If you donât ask, you canât expect.
If you donât steer your own ship, youâll either capsize, run aground or drift aimlessly. Any of these scenarios feel familiar for you?
Take personal agency, âthe act or intervention producing a particular effect.â Ask specifically for what you want, donât assume others will act otherwise.
Ideally your ask is with something that will address a need/help the person in front of you. Key, make the ask about something you really want, then youâll come across authentically, or as Andy Wilson recently wrote:
âOur livelihoods and (our sanity) more than ever before, are about doing what we love, with the people we love, for the outcomes we love. This is the good stuff, make sure others know about it!â
All success in the quest to achieve your goals.
Best wishes,
Stuart
Personal Agency – Key to the next career move you dream of!
The advertising jobs market is a real mixed bag at the moment. And by that I mean, there are as many people losing jobs as gaining them, although the way I see it, there are certainly more losses at the moment.
Many more of you either out of your choice or through those quarterly ânumber balancing decisions,â are now out of full-time employment and freelancing.
There are so many more of you freelancing now that freelancing has become much more competitive. Everyone it seems, and for different reasons, client, agency and individual, want more flexibility, which post pandemic, most of us have more of.
The point of this post is not to talk about the overall market but more for individuals either in jobs and feeling âstuckâ âunder-valuedâ and/or âvulnerable and those actively looking for their next role. If you fit in to either scenario, read on.
I was recently talking with a long-standing connection, whose pretty well known in the business both by reputation and in terms of their expertise. And, for the results heâd help achieve.
Like many, heâs been looking for a job/the right job, for a while, but well connected, wasnât sweating it, and had a meeting lined up with a high-level holding company exec.â Heâd been waiting a month for this meeting but was very hopeful.
Last week I caught up with him having had the meeting and I asked him, how the meeting went.
He told me heâd had forty minute in-person meeting. âIt was great. We caught up on the industry, world chaos and the kids.â
I was encouraged, it sounded positive.
âWhat elseâ I asked, waiting for the punchline role/roles he was going to be considered for or introductions that were being made perhaps as we spoke.
âWhat else? He replied?
âWhat did you ask him for?â I asked perhaps a bit to stern.
âI didnât ask him for anything.â His voice dying away as he responded. Immediately realizing, that the person he âisâ in front of clients had not shown up for himself, when it mattered.
I shrugged my shoulders, and politely let him know what I think many of us take for granted.
âMy friend, you âHAVEâ to let others know what you want; What you want to be considered for! At the very least, let the person in front of you know, how you want them to help you, even if itâs not a job that you want.â
âYou know this!â OK, I know I showed a bit of exasperation here..
The point, everyone you know is busy. When you are upset that they didnât âhelp you,â think about it. Did you assume theyâd know exactly what you wanted or how they could help you? If you did, you didnât âmake it easyâ for them to help you.
So many times, when it comes to âus,â we donât ask for something, either because we are complacent and assume by our reputation or resume, others know what weâre right for. While others donât have enough self-belief to understand that there are times when itâs critical to âask!â
Moral of story, however well-known you are or arenât, donât default to others telling your story for you, unless you specifically âhaveâ someone that gets rewarded to tell your story for you or in addition to your own effort.
If you donât ask, you canât expect.
If you donât steer your own ship, youâll either capsize, run aground or drift aimlessly. Any of these scenarios feel familiar for you?
Take personal agency, âthe act or intervention producing a particular effect.â Ask specifically for what you want, donât assume others will act otherwise.
Ideally tie the ask in with something that will address a need/help the person in front of you and make it about something you really want, then youâll come across authentically, or as Andy Wilson recently wrote:
âOur livelihoods and (our sanity) more than ever before, are about doing what we love, with the people we love, for the outcomes we love. This is the good stuff, make sure others know about it!â
Success Demands Adaptability
I wrote about adaptability six months ago but this year in particular, I’ve received so many calls from strategists struggling to adapt, that I thought I must revisit this theme.
Having decent mental health, let alone having a successful career is increasingly about one thing, your ability to adapt. But adapt to what? Changing working practices, changing pressures to deliver results, demands on you to learn new skills, expectations that you can easily work with a variety of people/expertise and teams; That you can learn new ideas and how to thrive in new environments, quickly. Yes, all of the above.
Most of us have a sense of what adaptability is,
‘the quality of being able to adjust to new conditions,’
or perhaps,
‘your ability to channel change in to success.?’
Most dangerous – When you think you’re an adaptable person when you aren’t. For this person, the world will feel a frustrating place and the person will quite possibly sooner or later feel alientated.
Who is most likely, an ‘adaptable person?’ The person that has encountered many work and non-work situations, where there skills and/or mentality were tested; An individual that is practiced in constant change. Perhaps they have moved alot/Lived in different cultures. Perhaps when they grew up they constantly moved and had to make new friends in new environments?
Key, what steps can you take now, to build up what I will refer as the third intelligence rating after ‘IQ’ and ‘EQ,’ your ‘AQ’ or Adaptability quotient. Some key thoughts:
Practice change – Put yourself in situations at/and away from work where you test ability and comfort levels. Do this on your own terms when your livelihood isn’t dependent on it.
Constant learning – Whether learning about yourself or others or new subject matter, you are more likely to adapt through constant development.
Good support network – Our success is ‘so not’ simply about us! You will get through the biggest challenges you face through having family/friends/mentors around that can help you.
Coping Mechanisms – ‘Know thyself.’ Be aware when you are under extreme pressure, how you manage to cope. Know your go to tools for coping with sudden or extreme demands on you.
Be a generalist with a ‘specialty.’ – Understanding the bigger picture is more likely to allow you atleast, to understand change when it comes. Generalists know about alot of things and are therefore more likely to survive and thrive when change comes barrelling toward you.
Transferable skills – An existential crisis occurs when you no longer see meaning/believe you have value – Understand now, the power of the skills you have/their transferability way beyond what you currently do for a living.
Positive mindset/Our Psychology – Change can be horrifying but it can also be for the good. If you can learn in the face of change to default to a positive take, such as ‘it could have been so much worse or this could actually be good,’ rather than the mindset of a victim, ‘Why me,’ you use your energy focused on adapting versus fighting change.
What else might you add?
All the best,
Stuart
- https://www.verywellmind.com/coping-with-existential-anxiety-4163485
- https://hbr.org/2021/11/how-to-become-more-comfortable-with-change
- https://www.forbes.com/sites/robertcerone/2019/12/20/how-and-why-to-boost-your-adaptability-quotient/?sh=190d8dfd6918
Strategy Jobs Market Update – June9th, 2023
Strategy hiring Latest June 9th, 2023
‘Functional hiring’ predominates at the moment as opposed to ballsy risk-taking investment of whole teams.
Where the hiring is happening? In replacements for those leaving the business, by agencies that have won business, for clients insisting on a personnel change or, perhaps for a maternity/paternity fill.
Clients are cautious and even AOR work I hear feels more project focused, more performance oriented at the moment. Yes, even clients wants to keep their jobs!
A whole lot of anxiety – It’s palapable – Yellow skies don’t help the sentiment!
Stay positive. For yourself if not for others or better still stay positive through others.
While I’ve always kept my sanity through physical exercize, I’ve increasingly found that the best anditote to anxiety caused by job uncertainty, (and I hear it and feel it via all the conversations I have most days) is to focus on helping/being kind to others.
Being kind? This doesn’t even mean taking up swathes of time in the service of others, but simply being kind when you interact or, being less unkind than you’d typically be!
Do this and you will feel better about yourself and consequently less anxious. Be kind/be who you want to be, and you may also find that the things you want to manifest happen a little faster too:)
Give yourself a break and feel good by being kind.