Independent media agency The Media Store (TMS) was put under enormous pressure after losing Toyota its founding client of 24 years during the 2021 lockdowns.
The Toyota media account went to Publicis Groupe after a review. While a common reaction could be tightening expenses as early as possible, triggering early redundancies or not focusing on retaining staff beyond the transition period that could not be recouped by a client retainer, TMS had a different response.
Through a combination of people first culture and open communication from management level down, The Media Store developed a strategy that allowed the agency to remain a tight-knit team and reimagine an exciting future.
TMS was given a six-month transition period by Toyota. The agency's aim was to retain as many of its Toyota account team as possible and reassure a bright future for staff with other clients.
Once the news had settled, TMS assured the Toyota team that their jobs were secure until October 19, giving many six month to secure new roles.
Team members who had roles on other clients were told their jobs were secure.
TMS offered direct access to an external coach to each staff member so they could process the changes in a confidential, independent, and supportive manner. Offering stay-on bonuses to provide financial security and a reward for those who committed to this transition period.
However, this loss was further complexed by the reoccurring lockdowns of 2021 where TMS teams were physically isolated and coping with their own mental health and personal circumstances.
Therefore, staff received wellbeing hampers, UberEats vouchers, virtual yoga classes, meditation classes and Friday afternoon themed trivia to help maintain connections.
As a result, TMS was able to retain 89% of the team.
Stephen Leeds, The Media Store CEO, said: “The Media Store has always been a people-first company – it’s the most important of our four values. This transition was no exception.
“Our people were our first priority; we had empathy for all our staff as they went through an emotional rollercoaster, torn between wanting to stay with a company and colleagues they loved versus the uncertainty of the future. We engaged in one on one communication and developed personal plans from day one.
“In some cases, that meant reassuring staff that they had a future with us. In other cases, with staff who had been offered opportunities elsewhere, it meant having a delicate and honest conversation about staying versus leaving. And for others who were unsure about what they wanted, they saw this as a chance to consider their careers, and it meant being patient and giving them time.
“Regardless of the individual differences, we transparently communicated our plans and our vision, our financial situation and our timelines.
“We had a plan for the worst outcome, but as it turned out, we did not have to initiate any departures. Natural attrition occurred with some staff wanting to take the security of a job offer, others stayed to the end and then accepted roles elsewhere, and many stayed for the journey - a journey that realised its vision, and we are incredibly grateful for their loyalty.”
TMS’ strategy for facing these challenges was rooted in its people first value where they supported each person with what they needed to manage the change as positively as possible. With no one-size fits all approach, but a smorgasbord of support and bespoke personal plans.
Pauline Xerri, trading manager at The Media Store, said: “I was going on maternity leave once Toyota transitioned out. Leadership always remained supportive of my pregnancy journey and work responsibilities and helped me adapt to the change.
“TMS ensured myself and other departing staff received well-deserved send-offs and everyone coming together not just as co-workers, but as family. I have since returned to work and have been welcomed with open arms.
“I have made a smooth transition back to work whilst still maintaining motherhood as a priority. It’s the flexibility that leadership has applied which allows mothers to continue having a career and develop professional skills.”
TMS chose to support everyone’s decision so that they could feel in control of what was largely an out-of-control situation thrust upon them all. Although some staff did move on throughout the transition period, their decisions were supported as hard as it was.
Weekly check-ins with each staff member were scheduled with the CEO or COO to ensure everyone had open access to leadership and bespoke needs could be addressed. When neccessary, staff were told directly whether they would have a role beyond Toyota or sadly not.
James Nash, performance director at The Media Store, said: “I was fully aware of the ‘retain’ pitch that TMS was about to embark on before I considered joining the agency back in 2020.
“The agency assured me that no matter the outcome, TMS always supports their people, and this is a standard The Media Store has upheld to this very day.
“My biggest fear was job safety, which was certainly not easy to navigate through during the global pandemic and years of lockdown that followed.
“I always valued the transparency TMS shared with our staff during these turbulent times. Once Toyota decided to part ways, the agency did everything possible to retain its staff by spreading resources across our remaining clients and offering pathways for staff to upskill across digital channels.
“It’s always sad to lose good people, but I admired the support TMS showed staff with honest conversations that took place and helping place departing staff find new roles outside of the agency.”
TMS gave personalised farewell Teams calls with a commemorative video, a gift delivery and recruiter support including CV consultation and interview practice, for each departing staff member.
To support the gradual departures, with some being as late as early October, TMS engaged three contractors and hired two new assistants, delivering on our commitment to our team that they wouldn’t be asked to fulfil multiple roles.
As a result, TMS received its highest results ever for staff feeling adequately remunerated, ranking as #2 agency in Melbourne, and being inspired/motivated by their manager 94%.
Staff happiness levels were also 83%, above the national average of 72% and ranked as #4 agency in Melbourne.
Jacquie Alley, The Media Store COO, said: “Whilst we prudently managed our budget, as did all businesses during COVID, we never wavered from our strategic priority of valuing our team and continuing to invest in their mental health and development during this time.
“Every year we have a metaphor that sets up the focus or tone of the year. Ironically for 2020, we chose the butterfly, symbolising transformation which evolved, via consultation with our team.
“To become the phoenix in 2021; we would rise from the ashes into something even more beautiful and purposeful.”
Post Toyota’s departure TMS has continued to demonstrate a People First value with promotions continuing and the agency’s culture club has been facilitating connections such as an inclusive breakfast club, in response to parents wanting to head straight home after work and the rise of alcohol consumption in agency-land during COVID.
The Media Store submitted this case study to the 2022 MFA award and is the only indie agency finalist in the awards this year.
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