By 2020, 75% of the workforce will be comprised of millennials. And PR agencies aren’t immune to this influx. In order to create new agency environments that will withstand this dynamic shift in the workforce, the public relations industry needs to take a genuine interest in the opinions, preferences and disagreements of its people. Then, we must address them through different business models, approaches and cultures.
In that spirit, my agency (ARPR) partnered with Gould+Partners, a management consulting firm specializing in PR M&A, on a new survey about intergenerational differences in PR agencies. Here are the top three findings:
62% of millennials working in PR say they value a team agency model, sense of camaraderie and open communication above strong leadership and stable clients. Just 12% of millennials say they value stable clients most.
Roughly 42% of millennials say they expect commissions, bonuses and promotions biannually or quarterly; however a whopping 77% of PR firm owners only distribute bonuses, etc. annually. Moreover, 31.3% of Gen X and boomer agency owners say the hardest part of managing millennials is their false expectations regarding promotion and compensation.
Perhaps as a result, 46% of millennials say they prefer to be managed by their peers, while 40% prefer to be managed by Gen Xers. Just 13% of millennials say they prefer to be managed by Boomers.
Want more? Read today’s press release and share this infographic with your colleagues:
Anna Ruth founded ARPR in 2012, which quickly rose to become the 2016 Technology Agency of the Year. With a love for building culture and creating jobs, Anna Ruth has led ARPR to become a PRNews’ TOP Place to Work and the #5 Best Place to Work in Atlanta. The agency’s fast success earned Anna Ruth the title of 2015 Early Stage Entrepreneur of the Year by the Metro Atlanta Chamber.