‘An agency is only as good as it’s people’ and ‘It’s a relationship-driven business’ are two of the phrases we hear the most in adland. So why is it that when money gets tight, training budgets are often the first things to get a haircut asks Linda Robson, executive director of The Hummingbirds.
Now, I know what you might be thinking. This is a self-serving article from someone from a training company. But before I was a Hummingbird, I, like many of you, was a media professional running some of the country’s biggest accounts.
I started in the industry in the 80s, when my hair was permed, and my heels high. Back then, the media landscape was simpler and the industry more lucrative. My first account was Garuda Indonesia International which billed US$40 million. We had a team of two and most of the planning and buying was global print. The remuneration, at 22.5 per cent (media commission plus service fee), was almost as high as my heels.
Fast forward 40 years, and the industry has changed dramatically. Teams are bigger (can you imagine running a US$40 million global account today with just two people?), fees are significantly lower (move the decimal point a couple of places and that’s today’s reality) and the media landscape is more fragmented and complex than ever before. The pace of change with technology and innovation is both wonderful and overwhelming.
In my day, formal training barely existed. Most learning took place on-the-job. If you had great managers (which I did), you were lucky to get one on one training, coaching, mentoring, and guidance every day.
The challenge today? The MFA 2024 Census revealed 43.9 per cent of the industry have not celebrated their 30th birthday yet. This is up 1.7 per cent from 2023. Yet, on the other end of the spectrum, only 19.1 per cent of the industry are over 40.
This is backed by The Silent Exit study by the Experience Advocacy Taskforce (EAT) of which I’m a proud member. Our study found that 69 per cent of industry veterans (OG Young Guns) have left prematurely. This leaves a gap in senior talent available for on-the-job training especially given the demands put on leaders today.
Whilst most will agree that training is important, it’s all too easy to cut it when times are tough. Industry bodies such as the MFA and IMAA offer more courses than I could have ever dreamed of in my days, yet it is still not enough to cover all of an agency’s training needs in today’s complex world. This is especially true for those who’ve recently joined the industry. Every day should be a learning opportunity for them.
But don’t take my word for it. Training makes good business sense. As a self-confessed “stat nerd”, structured training programs lead to:
Enhanced job performance: 59 per cent of employees believe training improves their overall job performance, according to Devlin Peck.
Lower churn: LinkedIn found 94 per cent of employees are more likely to stay at a company longer if it invests in their career development.
Higher profit margins: companies that invest in training see a 24 per cent higher profit margin according to the ATD.
Enhanced company reputation: companies with a strong learning culture attract top talent and experience 53 per cent higher employee engagement, again from LinkedIn.
When you invest in your people, you create teams that are more capable, confident, and better equipped to handle today’s challenges.
Your real edge isn’t the latest tech or fancy tools. It’s your people because ultimately every agency is in the talent management business.
Clients want an agency partner who understands their business and delivers real insights. That kind of expertise doesn’t come just from a new platform; it comes from knowledgeable, well-trained teams equipped with technical and human skills.
Training shouldn’t be an expense that can easily be wiped off your bottom line. It’s your competitive edge.
