Morale is declining and job security is a growing concern among employees at major holding company-owned ad agencies, according to a recent ADWEEK reader survey.
Several factors contribute to this unease, including layoffs, agency consolidations, and the increasing impact of generative AI. These changes have fueled pessimism about the industry’s future. In fact, U.S. ad agency employment dropped nearly 4% in May 2023 compared to its peak in April.
In a recent episode of Adspeak, ADWEEK’s deputy editor Paul Hiebert and agency reporter Audrey Kemp explore the reasons behind these trends. They discuss insider perspectives and potential solutions for improving employee outlook.
The survey also highlights a contrast between holding company agencies and independent firms. Employees at independent agencies report higher morale, greater job security, and a more optimistic outlook for the future.