Talent Shortage Worst Ever; Suppressing Marketing Industry Growth

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Oct 17, 2022
Help Wanted Poster

A new study from the World Federation of Advertisers and consultant MediaSense found the current talent shortage in the marketing industry is the worst ever and it’s suppressing industry growth. The report, Media’s Got Talent?, uncovered a number of worrying findings, including:

  • 67% of all respondents (76% in APAC) believe that talent scarcity is proving to be a major blocker to growth
  • 48% of all advertisers, agencies, ad tech companies and media owners think the industry is facing its “worst-ever crisis” when it comes to talent, (54% among agencies)
  • 68% globally say “crisis” is not overstating the matter, (74% in the U.S.) 
  • 77% of respondents admit there is “some” or “high” scarcity of talent in their organization
  • Key areas of talent shortage: Data and analytics (84% for both advertisers and agencies); eCommerce/retail media (71% advertisers, 73% agencies); Measurement (69% advertisers, 74% agencies)

What factors are driving this shortage? According to the report, poor training and talent management, a lack of purpose, poor client agency behavior, and over-specialization and recruitment.

“This study comes at an important time in the industry with businesses experiencing levels of staff attrition never seen before. And while we remain first and foremost a people-centric business, ‘riding the wave’ is no longer a viable strategy. We know the impact this has on future growth, so it is vital that businesses start to invest in talent in a more meaningful way, ensuring they strike a better balance between specialists and all-rounders, youth and experience, expertise and attitude,” said Ryan Kangisser, managing partner at MediaSense.

As we discussed recently in two blog posts, It Takes Two (to Make Team Building Go Right) and Bypassing the Great Resignation, it’s a job-seekers market, they have new demands (greater pay, better benefits, flexible schedules, remote work) and will wait for employers to meet them. This has constrained industry growth by creating productivity caps even in the face of increased demand. The industry needs more talent to both handle that growing demand and help relieve the existing burden from overworked teams. Competition for available talent is fierce, drawing out the already cumbersome hiring process and putting marketing departments squarely behind the eight ball.  .

Dept. 11 lessens the burden on marketing departments by curating exceptional talent and onboarding talented and reliable marketing individuals and teams who match your needs. Our staff augmentation approach scales and pivots with your business in real-time; as projects grow and evolve, so does our team to support those needs. We provide the right expert to support your department as needed, easing the strain on team members, leadership and staffing/recruiting departments.

Contact Dept. 11 today to see how we can help you overcome the talent shortage facing the marketing industry and push your growth to 11.