In a study done by specialist marketing recruitment consultancy EMR, 90% of marketing professionals across Asia said they were looking for a new job.
The study also found that job satisfaction and security are no longer enough to retain staff. Also 30% of those surveyed have been in their current role for less than a year. Candidates highlighted that they are not leaving their positions out of necessity but rather, the majority are leaving out of choice, for career development and more challenging and interesting work.
These findings were from a study by EMR done in November 2013. EMR surveyed over 6000 marketing, digital and communications professionals, receiving responses from over 200. These findings were collated in November as well.
On the bright side, candidates also said they were largely positive about the economy in 2014, with over a third feeling very optimistic about the future and a further 36% feeling indifferent.
It also seems that employers will have to pay more than usual to retain and attract staff, with bonus expectations for 2014 significantly higher than in past years.
More than half of respondents are expecting over 20% of their salary in annual bonus, while six out of 10 candidates will accept a salary increase of less than 10%, only 2 out of 10 would accept the same increase externally. While annual bonuses are still of great interest, EMR’s research shows employers must look to intrinsic benefits to really retain and engage staff.
Candidates are also showing more interest in work life balance and future roles, with extra holidays, training and travel allowances among the top rated benefits. Advertising intrinsic benefits will be paramount to attracting and retaining staff in 2014, added the study.
In a recent panel discussion at Marketing Magazine’s Futurist event, Ajay Mohan, director of partner marketing and digital marketing, consumer marketing and sales, Intel Asia said that how a company recognises its “marketing rockstars” is a manifestation of how the organisation treats the marketing department.
“You have to make sure that people in the organisation are constantly feeling that thrill of doing something that is meaningful and empowered challenges are what we throw our people’s way,” added Mohan.