Another talent crunch looming?
The days of battling for mid-level PR talent are – for now – clearly over. But all the recent PR layoffs raise the question, is the industry headed toward another mid-level talent crunch when the economy improves? Some agency execs who I’ve spoken to have said the answer is “no” because senior-level folks are being harder hit. “If firms need to make deep cuts, the $200k folks will go first and not day-to-day client contacts earning $100k,” said one agency principal.
Another principal added, “A lot of companies will be laying off more expensive people at the manager and director level people rather than at the AE/SAE level.”
Amid these troubled times, a third principal wistfully noted, “Talent crunch is a good problem to have – it means you’re growing. Right now agencies are worried about surviving.”