Brandweek will feature live discussions with marketing pros at ULTA Beauty, Converse, UPS and more. Meet us in Miami Sept. 11–14 to boost your business and elevate your brand.
People build companies. Period.
No matter how great your product or service is, the talent you hire and retain will always make or break your success. Your marketing talent in particular is crucial to your growth and, now more than ever, with 61% of Americans looking to leave their current jobs, chief marketing officers and chief executive officers must proactively nurture their top performers to combat attrition.
Why are marketers leaving their jobs?
In February 2022, I wrote a blog post predicting that the “mass exodus” of 2021 would continue throughout 2022. Unfortunately, I could write this same post today about 2023, especially as it relates to marketing departments. Here’s why.
D-to-c has plummeted. When we were stuck in our homes two years ago, d-to-c companies thrived (and hired) because of the convenience they provided. With consumer spending shifting back to experiences vs. commerce, the industry is struggling, and so are the marketers who have dedicated the past three plus years of their careers to growing these businesses.
Ad costs are astronomical. With Facebook ad costs rising by 89% and TikTok’s CPM rising by 92%, digital marketers are feeling discouraged. They are trying to find new channels for growth but they can’t hit the ROI metrics found in digital and found in the past five-plus years of the booming economy.
Economic uncertainty. During recessions, marketing headcount and budgets are usually the first to be slashed. The result is frustration and low morale inside marketing departments. As a recruiting firm focused on hiring marketing leadership and teams, our inbox is flooded with people looking to leave their jobs thinking that the grass is greener elsewhere.
Burn out. Let’s face it. Marketing is hard. People are still coming off of the pandemic, trying to figure out WFH or office, and sorting through how important work is in their lives. A burnt-out employee is a tough employee to manage and retain and we are seeing all levels of marketers exhausted with what the past few years have delivered to them.