As companies continue to grow and the competition increases, staff retention seems to be a recurrent issue for any employer hiring marketers. Especially as the new year unfolds, marketers might decide to pave their career paths differently to what their company allows.
Companies should seize the desire for learning and development express by their employees and find newer ways to fulfill marketers in their current working environment, be it through new opportunities for growth or make them feel valued for their contribution.
It is imperative for companies to critically understand when people are likely to move on and the motivations that have driven their decision. Andre Rickerby, CMO at Moonpig, asserts the vital need for a business to set their own working culture, referring to that as a “massive retention tool in itself”.
Marketing Week Career and Salary Survey shows that while the majority of respondents are very likely to stay within the marketing field for the next five years, many are planning to leave their current job for better opportunities.
Better financial remuneration comes up as the key reason for wanting to leave (65.1%), followed by the search for a new challenge (54.9%) and limited opportunities at their current workplace (37.4%). Quest for promotion comes in fourth (34.5%), followed by a desire for better workplace culture (26.3%).
Companies need to come up with unique, interesting tactics to retail their employees, going forward. It’s not always as simple as offering a promotion!
Pete Markey, marketing director at TSB, correctly points out the danger of marketers becoming a bit “machine-like” ending up being a “cog in a machine of execution.”, which is an issue that companies need to address, by making employees feel that they’re part of the bigger picture, contributing to something bigger and better.
By Somya Mehta
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