The world economy might be in crisis but .
We wanted to discover what drives retention and why talented people stay in their jobs within the media and marketing sector.
Despite recent economic gloom 80% of staff in marcomms believe their companies are either improving or stable, despite the current economic situation.
In general marcomms professionals are confident about the future of their sector and their own career prospects.
But before industry leaders celebrate they should be conscious that this confidence amongst employees about their worth means that the battle for talent in the marcomms sector is getting tougher.
Our research has serious implications for the media and marketing company managers.
In fact, their staff are so confident about the industry, that nearly a third are looking to move company, nearly three in five believe they could easily find a job with another company and over a third believe they will move companies in the next two years.
Fifty nine percent of respondents felt that they could easily find a job at another company.
The good news for the industry is that employee motivation is currently high.
Engagement generally is strong, with 70% feeling motivated to give their best to their company and 63% feeling proud to work with their companies.
Unsurprisingly, among those planning to stay, engagement levels are even higher.
Marcomms business leaders cannot be complacent here, though.
The last four years have seen changes which have directly impacted on staff with many having had to do more for less and the reserve of good will is easy to lose.
Younger staff in particular are significantly more likely to be thinking of leaving their company.
Twenty four percent strongly disagreed with the statement "I see myself working for the company for the foreseeable future."
Even if they’re physically still in your office their minds could be elsewhere.
Not only are a relatively high proportion of our survey respondents ready to move, but when we look at those who think they will be working elsewhere in two years, these people are not giving their all to their existing employers.
Only 46% agreed with the sentiment "I am motivated to give my best to my company", 40% lower than those planning to stay.
The key to retaining good staff
What employers can learn from this is that company interest in their well-being and having interesting work where they are able to use their skills are key to driving retention.
Yet 46% said that they don’t currently use their skills to their full potential.
Career development is also an important driver of employee retention, yet only 31% of respondents feel they have a clear career path.
One of the major reasons for leaving a company is a feeling among talented people that there is no scope for career development internally.
Employees need to see a clear career path and the opportunity for progression.
Cost control activities can result in a lack of promotion opportunities and training.
While companies have focussed on surviving the economic crisis, some may have taken their eye off this psychological contract where employees are enabled to fulfil their potential and develop.
Our research makes for challenging reading for leaders of marcomms companies in this tough economic climate.
However, there are solutions. Fostering a confidence that their employer has their interests at heart helps to retain staff. Emotional engagement and a feeling of being valued are essential.
No longer do big bonuses and pay rises keep talent. Employees are looking to be able to use and develop their skills, do interesting work and build their careers.
Managers need to take the time out to talk to their talented people and to plan a clear career path for them to follow.
Business owners must work hard to stay ahead of the competition.
Constant innovation, working at the forefront of their industries, managing their brand image effectively and simply being the best at what they do are clearly part of their appeal to the respondents in our survey.
To attract more and better staff managers have to look at their 'employer branding'. What is their company’s image in the employment market place and how do talented professionals view it?
The results are based on unweighted data from 1,647 candidates registered with the Aspire Global Network in the UK. The data was collected by Ipsos MORI between July 6 and July 31 2011 using an online questionnaire sent to Aspire candidates