According to the Hays UK Salary & Recruiting Trends 2016, 60% of millennials in marketing anticipate leaving their jobs within the next 12 months and 34% expect to leave within six months[i]
With an industry-wide skills gap already having an impact on marketing teams, what will this exodus of millennial workers mean for marketing in future? Well, firstly, it simply cannot be allowed to happen. Millennials and digital natives are vitally important to modern marketing, and their ability to adapt to frequent and rapid changes makes them ideal employees. So the question then, is how to stop them leaving the industry? The only real way to solve this issue is by finding out exactly what is driving them away.
Cash, careers, and chances
The top 3 reasons for the millennials’ departure from marketing are salary, career progression, and also lack of future opportunities. Now, the first of these is dependent on the individual organisation, their budget, and their desire to attract the best staff. Salary will always be a sticking point for many employees and their employers, so we are not going to make much of that here. The other two however, have clear solutions.
It’s no secret that the marketing industry changes so frequently that most of us are just running to keep up. This means that many of the career goals we have, can change in a heartbeat depending on buyer behaviour and marketing tactics. In addition to this, the sheer workload of the modern marketer means that personal development usually appears pretty far down the to-do list. So, we haven’t got time to learn, and the job we were aiming for may not even exist in 6 months’ time if that marketing activity falls out of fashion. So what’s the solution?
Be dynamic and develop
Career progression is based on skill level and knowledge. For this reason, it’s vitally important to offer and undertake regular skill checks and provide learning opportunities. With marketing channels, strategies, and tools developing so frequently, there is always something new to learn and perfect. By creating an atmosphere of constant learning, not only do employees remain engaged, loyal to the company, and capable of generating great results, they also position themselves for career progression and advancement.
Now, although the other concern raised in the report was that many marketers believe there is a distinct lack of future opportunities for them, constant learning will solve this issue too. As marketing changes, so too does the number of specialist paths which marketers can take. However, by gaining expert knowledge in all the latest tools and channels, employees not only make themselves available for these new specialisms, they also create an opportunity to craft the role they want. The marketing industry has always been dynamic, and modern marketing is no different. Job titles and positions change regularly, and employees always have the opportunity to make a name (and a position) for themselves if they have the skills to back it up.
So, by investing in learning and development you can overcome the millennial exodus, create a new breed of experts within your team, and ultimately improve your marketing results. To find out more about marketing skills and any shortfalls you may have in your organisation…