Fleishman-Hillard, 10. Rodgers Townsend five. Momentum six (there are conflicting reports). There are more layoffs coming at some of our “smaller” agencies. It’s interesting that the local agencies who are part of holding companies seem to act more quickly. Seems improbable that the larger agencies are more nimble, but their actions speak volumes. Or maybe they just have more resources and people doing financial and business forecasting . . . or maybe the smaller agencies are more reticent to let their people go.
Larger agencies try to make the necessary staff adjustments at one time. As long as business continues at the existing (albeit slower) pace, staffing is probably set through the end of the year. In the planning and execution of staff reductions, it’s better to get it accomplished at one time, rather than have a slower course of action over months, which would affect the bottom line of revenue and morale adversely.
It’s sad to say there are going to be additional layoffs. But while some are laying off, the overall climate still seems positive, but admittedly reserved. There are agencies who are knocking down new business and adding staff. All is not lost. There’s hiring going on out there too!
All you have to do is take a look at the Ad Club job listings and you can see there’s plenty of new opportunities. If you’re concerned about your own job security, there’s no time like the present to make sure you have your resume and portfolio (yes, a portfolio even for you “non-creative” folks) updated and ready to present.
We’re coming into the clients’ planning season. They are doing the planning and creating of budgets for 2009. It’s not hard to see that many clients are being conservative. Nobody seems to know if the slow economy has “bottomed out” and are conducting themselves appropriately. It’s safe to say that the heady growth originally predicted for 2009 will not materialize.
The solution to this near term issue is to focus on what you’re doing and excel for your employer and your clients. Be positive, contribute and go beyond what’s expected of you. Surprise everyone with your attitude, energy and work. You’ll feel wonderful and you’ll be able to say that you’ve worked hard for your benefit, and for the benefit of those around you.