and Professional Coach

Martin Cowie

Martin Cowie is a senior executive in the communications industry with over 25 years of experience specializing in talent management and coaching. He has held senior management positions up to MD level at major media networks WPP, Omnicom, and Aegis in the UK, Europe, and Australia.

With a background in the advertising media industry, he transitioned to HR and successfully implemented positive approaches, such as career development plans and employee engagement strategies. Currently serving as a People Solutions Director at OMD Australia, Cowie utilizes his IECl Level 2 coaching qualifications to facilitate solutions and guide teams to success.

In an interview with Manage HR APAC, Cowie shares his insights on the importance of employee retention in the advertising industry and the strategies to achieve better results.

Could you talk about how important it is for organizations to focus on employee retention?

Employee retention is critical in every business, especially Top of Form

in the advertising industry. One of the reasons is the cost associated with replacing an employee. It can be substantial, often amounting to around 100% of their salary in recruitment expenses. Retaining talent is a clear business imperative, aiming to keep the right employees while letting go of underperformers.

Another reason is the shortage of talent and high competition in the field. Since advertising is a specialized field, transferring people from other industries is difficult, making it essential to invest in educating and training young talent to meet specialized demands.

“As HR leaders, we need to challenge old practices and present data-backed cases to support modern workplace practices.”

In our industry, with an average age of around 30, turnover rates are higher due to the younger workforce, especially with Gen Z employees who tend to change jobs more frequently. Since the competition is fierce we are required to be cost-conscious in our remuneration lines. While initial salaries may not be exceptionally high, with experience, employees can see lucrative growth.

Despite this, our turnover rate is lower than our competitors. This is crucial because we work with significant clients who value consistency in their accounts. To combat the allure of higher-paying opportunities elsewhere, our key is to focus on keeping employees engaged with the brand and their roles. Retention becomes a fundamental pillar for sustained success in this competitive landscape.

Have you incorporated any practice in the organization to streamline your strategies when it comes to talent retention?

Regarding talent retention strategies in our organization, one effective approach we implemented, known as the "three Ps," has yielded positive results over the past years. The first P focuses on personal growth, emphasizing investments in comprehensive training to enhance technical skills, negotiation abilities, and communication proficiency. However, we recognize that being a well-rounded employee involves more than technical expertise, which leads us to the second P.

It revolves around personal growth through emotional intelligence (EQ) development, complementing technical knowledge with training in management, personality profiles, and critical thinking. As the world becomes more complex, these non-technical skills become increasingly essential for our employees.

The third P centers on personal growth beyond the workplace. We understand that work is an integral part of life, and we encourage employee well-being by supporting diversity and inclusion, sustainability, and community involvement. Our commitment to flexible working arrangements allows employees to achieve outcomes effectively while maintaining a strong connection to our company's culture.

This comprehensive approach to personal growth and engagement has proven fruitful, fostering a culture where employees feel valued, work passionately, and contribute meaningfully to our organization's success. By instilling a coaching culture, we empower our managers to challenge and grow their teams, fostering a sense of personal development and accountability. A bigger vision of what employees truly desire and expect from a company is essential for achieving a level of engagement and retention beyond traditional HR strategies.

Do you have any advice regarding talent retention or coaching that you'd like to share with the readers?

In the post-Covid world, the power balance between employers and employees has shifted, with employees having more choices due to the talent shortage. However, if we face potential economic downturns, the balance might shift back towards employers.

For HR professionals, it's crucial to assess the impact of decisions on employee engagement and productivity. If flexible working arrangements and other privileges have proven beneficial for productivity, don't hastily withdraw them. Instead, use metrics to gauge productivity and employee engagement to make informed decisions.

We must adapt to the preferences of the new generations and understand that progress and evolution are inevitable. As HR leaders, we need to challenge old practices and present data-backed cases to support modern workplace practices. Employees are drawn to progressive and forward-thinking companies, and HR can play a significant role in shaping the future of work with confidence and influence.