The great resignation, sparked by a widespread reassessment of career and life choices during the pandemic, is no more as the media agency business returns to a more normal rhythm.
Media agency staff numbers are up, most are women but don't get paid as much as men, staff churn has eased and fewer are leaving the industry, according to the annual MFA (Media Federation of Australia) Industry Census.
The average age in the industry is 32.7 (up from 32.1) , have 7.8 years’ industry experience (up from 7) and 62% are women.
The vacancy rate in agencies dropped to 7.2% in 2023 down from 8.5% the year before, but is still higher than the normal level of 6%.
The proportion of women leaders has risen to 47% of all management roles held by women (up from 46%).
But the census shows that women are paid 3% less than men in the same roles, a reflection of the higher concentration of men in some specialist functions and in-demand roles.
"The MFA Census reflects an industry in great health, with all key metrics showing signs of continued improvement," says Linda Wong, director people at the MFA.
"Over the past five years, we’ve seen a 25% growth in population, which is a remarkable result against the backdrop of economic uncertainty, offshoring and the rise of AI affecting all industries.
"Also worth mentioning is a notable increase in analytics and creative services roles, showcasing the industry’s adaptability to evolving client needs.”
MFA agency members are employing 4,778 people, compared to 4,685 people in 2022 and 4,412 people in 2021.
A reduction in staff turnover saw loss drop to 26%, but down on 32.6% in 202, while the number of people leaving the industry dropped to 13.1% from 17.3% a year ago.
This brings media agencies closer to the MFA’s goal of reducing the number of people leaving the industry each year to 11% by 2025, as part of re-building pride through the launch in 2022 of the industry purpose We Are The Changers.
While Sydney is the biggest market by far, with 56% of all roles, Brisbane’s share of the population grew 10% to 8.1% of all roles. Melbourne’s population recorded a more modest increase, to now represent 28.3% from 27.%.
Additional data collected from a DE&I survey also found that 29.58% of media agency employees speak a language other than English at home, while 5.68% are living with a diagnosed disability or special need.
Culturally, 52% identify as Australian, with European and Asian backgrounds being the second and third most common, and 9.4% of industry employees belong to the LGBTQ+ community.
Agency employee tenure has improved slightly, with employees staying with their employers for an average of 2.8 years (up from 2.5 years).
“Showing sustained industry growth and positive movement across so many important metrics, the MFA Census provides proof that agency and industry initiatives are having the desired effect of instilling pride in our people, tackling vacancy rates, and reducing industry churn," says MFA CEO Sophie Madden.
"Notably, the growing number of ‘boomerang’ recruits – individuals returning to the industry – reflects a promising trend. I believe we’re on the right path for more positive change ahead.”
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