- Both average profit and average margin at PR agencies saw modest increases in 2010 versus 2009.
- Over-servicing appears to be on the decline, but appears to be a particular problem when it comes to matching actual and timesheet hours at board/partner level.
- Salary cuts have stabilised, but agencies seem more comfortable tempting employees to stay via bonus and entertainment benefits. Do staff parties count as a retention strategy?
- The percentage of firms making redundancies has, thankfully, dropped substantially. Hiring plans are cautiously optimistic.
- Of more concern, many people are leaving the agency industry altogether. 19% going in-house and 15% opting for a complete career change.
- A shortage of skilled consultants is becoming a more pronounced threat, behind continued concerns over economic growth and fee pressure.
The Innovation SABRE Awards - North America 2017
Extended deadline November 7 - don't miss out!