About 40% of agency employees are currently looking for a new job, according to a new survey about work and culture by Digiday.
That’s lower than the 48% of agency employees who were looking for a new job back in November, indicating a slight dampening of mobility thanks to the coronavirus pandemic and the ensuing economic downturn.
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About 50% said this month that they felt their job was secure, compared with the 61% who felt secure in their jobs back in November.
Over half — 55% — said they were worried about the financial health of their companies, compared with 35% who were worried about that in November.
Layoffs and furloughs
It’s been a rough few months for the industry in general. Inside agencies, 32% of surveyed respondents said they’d taken a pay cut, while 35% said others had done do. About 26% — a quarter — said people at their companies had been furloughed, while over a third said others at their companies had been laid off.
Many brands have postponed projects, cut spending, or, in an effort to conserve cash, are paying agencies late. For many agencies, especially those in experiential spaces, for example, there is simply not a lot of work. And as talent remains the biggest cost for most agencies, levers are usually far and few between — which makes for an uncertain job market for many.
About 36% are worried about their mental health at work, slightly more than the 34% who had the same issue back in November.
Overwork and blurred lines are a problem for many with the current work-from-home set ups.
Inside agencies, people are feeling like they’re working longer hours and attending more meetings. For agency workers, 37% said they feel video meetings get in the way of their productivity, while 51% said they’re “sick” of video meetings.
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