Shortchanging Ourselves

Posted on August 21, 2007. Filed under: Uncategorized |

The debate for the top attributes that make a good employer goes on and on. Fortune magazine ranked the top 100 employers to work for http://money.cnn.com/magazines/fortune/bestcompanies/2007/full_list/based on several key concepts

– Culture
– Job growth
– Payroll
– Bonus
– Size
– Best benefits
– Training & Development

I absolutely agree with that.

Lets talk about the PR consultancy space. It is a competitive market, with a shortage of real talents for the job.

Some people claim that a PR professional is a generalist, whilst others think that PR is a profession. I belong to the latter.

As the consultancies race to retain the best talents, they compete on different things. One of the things that I constantly hear about, is culture.

Less politics, a nurturing environment, free for creativity, good employee interactions. Excellent choice, one may say, but not the best pay masters.

On the other extreme, you have some consultancies that pay well, but has an environment filled with politics where every employee is dying to stab the other to climb up the corporate ladder.

‘Terrible’ one says, but yet the pay is attractive.

Why not merge both of these attributes?

Even with the better pay masters,employerstend to hire ‘new’ talents into the firm at higher rates, often neglecting the existing employees who are working hard to attain better living standards.

It’s an open secret that a PR professional in a consultancy can jump from consultancy to consultancy from time to time withan almost 30-40% pay jump! This is absolutely a taboo figure to even talk about in their existing consultancies.

For the executives lower down the chain, these jumps seem very attractive. But from an employers perspective, what is the absolute cost of such an increment? It is probably less than a thousand dollars.

It issn’t a lot of money! So issn’t it better to spend a little more and retain the talent than to scrimp a little and lose the talent?

Why should an employee jump from consultancy to consultancy just to acheive career / payroll progression? Why shouldn’t the existing company reward the employee to the best of the market?

Questions for all of us to ponder.

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More to come.

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