There is a demand for flexibility. “And the interesting thing,” said Friedlein, “is that employees have the power. In marketing/digital, as with most other jobs it seems, it is a candidate’s market. So whether employers want to offer these levels or not… they have to in order to attract and retain talent.”
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The war for talent in digital and marketing is not new, but Friedlein described it now as ‘endemic’. He added that in his conversations with agencies and consultancies in the digital and marketing space, “there seems to be a common pattern over last year where they’ve been more profitable than usual and employees have been more productive which seems great except that they’re burning that talent and experiencing around 30% churn rates.”
“At the same time, speaking to recruiters in the world of tech, salaries for marketers in that sector (like growth marketers, performance marketers etc.) grew around 30% last year alone.”
Friedlein also noted the trend, particularly in tech, for recruiting remotely and internationally, which is seeing huge wage inflation in countries such as Romania and Bulgaria.
Referring back to the idea of the ‘Great Resignation’, borne out by a 2021 Microsoft study which found that a staggering 41% of the global workforce was considering leaving their employer, Friedlein said that we’ll continue to feel its effects across 2022.
“In some cases people left jobs because of burnout, or because they no longer felt the deal they were getting was worth it. But also Covid caused many to reassess their lives and they realised they weren’t happy in their work, they’d become alienated from it, disconnected and disenchanted.”