How agencies can win in this hyper-competitive hiring moment

In 2005 I decided that my industry was broken.

There was high turnover, profits that flowed exclusively to top management and exorbitant waste on expenses like fancy offices. And most importantly, for an industry with a high degree of female participation, there was a huge percentage of women who dropped out of the workforce after having kids.

Due to a combination of inflexible workplace norms and burnout, women who had options said, “forget it.”

Much has been written about this topic. The McKinsey “broken rung” research is most notable for how women lose out over time. But even back in 2005, before the more recent exploration of the gender gap, I knew I wanted a better option. I started something new, built from the ground up to serve the people I was lucky enough to call my team.

We built a virtual team that put a focus on people and talent versus geographic location and traditional schedules. Being shackled by existing workplace norms wasn’t only frustrating, it was stifling the opportunities created by advancements in technology and growth of knowledge work. So, we built a new kind of environment where talented, ambitious people could come together and own their work experience.

In the great race for talent in 2022 I see a lot of new terms, perks and benefits being used to attract and retain teams.  But has the underlying culture of PR and marketing agencies changed?

Businesses must fundamentally shift how they approach the nature of work, relationships with its workers and what success metrics are. Unless they adapt, I don’t believe they will compete.

Making small changes on the margins, like allowing for some work-from-home days, better pay or a new wellness program will not solving a much larger problem. As Adam Grant astutely wrote in his essay “The Real Meaning of Freedom at Work,” the great resignation isn’t about quitting—it is about finding freedom.

For agencies looking to attract committed people for the long-term and retain workers examining their options, I offer three key principles based on our unique experience at The Fletcher Group over the last 15 years:

1. Flexible work vs. freedom to work

True flexible work means your employer places trust in you to get the job done in a way that works for the employee. If a company is simply offering a work-from-home environment with a companywide mental health day off, that’s not necessarily “flexible.”

Being on Zoom eight hours a day, even if from home, is not flexible. Answering Slack messages at all hours is not flexible. Not everyone works best in a 9-to-5 environment and for most agency jobs, there isn’t a need to adhere to that rigid schedule all the time.

Agency leaders should work with their teams to figure out the norms that work for them and be open to people who don’t fit the typical mold of a 9-to-f worker.

2. Better pay vs. sharing the value created

A bigger paycheck is great. A big bonus is also great, particularly when these bumps in pay increase the trajectory for lifetime wealth creation. This is particularly true for women and people of color who have traditionally been paid less over time.

In the current environment there is a lot of advice about striking while the iron is hot. Make the jump to your next job to get the big bump in base pay. Not a bad idea, but make sure the jump will lead to a sustained outcome. A company value to look for is profit sharing and ownership, not just a one-time signing bonus.

Companies that have it in their DNA to share profits and view everyone as owners of the firm’s destiny will continue to pay strong dividends over the long term. At our firm, we have shared 20% of the profits each year with the team. We also have a culture of ownership – you don’t need to be an actual owner to feel ownership and control over the destiny of the organization. If everyone has that mentality, it leads to greater engagement and retention.

3. Positive culture vs. personal fulfillment

Company culture is well documented as critical to success. Today, there isn’t a company out there without a mission and vision statement. And companies have tried to do a better job of killing cubicle culture with lunch buffets, ping pong tables and Friday happy hours.

Some of these initiatives might make work more fun, drive creativity and build teams and relationships (which is very important) but they don’t translate to fulfilled employees on their own. Also critical to address is how the team will work together and defining the norms of engagement.

How does everyone communicate? What are the expectations for workload?  How do you incorporate technology? What happens when someone must take care of a sick parent? When your child busts in on a Zoom meeting, how does the team react? What happens when a new client is won but HR hasn’t been able to hire new people? What is the pacing? Are you expected to be friends with your co-workers?

This is the stuff that really matters: a truly nurturing and supportive team culture.. The most sustainable company culture supports the personal fulfilment of its people. This is key to value creation, productivity and retention of people and ultimately clients.

Jennifer Tramontana is the president and founder of The Fletcher Group, a PR and content marketing agency that drives action and long-term impact. The Fletcher Group created a bold new agency environment where talented, ambitious people come together to support one another and own their work experience.