Challenge is in attracting and retaining talent, says Aquent

Kuala Lumpur (October 18, 2006)—The Aquent Orange Book 2006–2007, reveals that companies in the advertising and communications industries in Kuala Lumpur are bullish about their growth prospects with an astounding 84% predicting an increase in revenue this year.

Aquent, a global firm specializing in staffing solutions in the creative, marketing and communications industries, today launched the Asia Pacific edition of their salary survey and industry monitor in Kuala Lumpur.  The survey found that many of the companies surveyed in Malaysia predicted an average revenue growth in excess of 20% this year; with over 80% expected to increase their staff numbers. 

This widespread optimism is due in part to positive GDP growth projection, forecasts of increased advertising expenditure, a growing international reputation for quality work and a buoyant new media sector. 

As business expands and expectations of clients in terms of measurable deliverables rise, employers are facing significant challenges in not only attracting the best talent but also retaining and developing them.

In light of rising demand for the best talent, there are corresponding pressures for salaries to rise as employers compete in a market plagued by high staff turnover and a shortage of quality talent.  Staff turnover is a serious problem in Malaysia with rates averaging 23% across board.  Turnover rates are highest in the fields of public relations/communications (71%), media (40%) and creative (50%) of employers report turnover rates of over 20%.

Aquent KL area manager, Sharon Wong commented, “As a result of talent shortages across the board, companies have to think more creatively about attracting and retaining quality talent. It is literally a race to hire and often a battle to retain the best people!  Companies need to be more creative with their retention strategies, going beyond the norm to include travel, overseas postings, training and education.”

In KL, more than 80% of creative departments of interactive agencies and PR agencies expect to increase their headcount this year.  The bulk of salary increases will be in the region of 9% to 10% per annum in all sectors, except for public relations which comes in slightly lower at 7%.

In the race to meet client demand and rapidly expand service offerings while maintaining revenues and competitiveness, agencies in Malaysia are resorting to the temporary or short-term hire of specialist talent in the areas of strategic planning, interactive / new media, design and activation. To quote one of Aquent’s agency clients, “We are becoming old fashioned and irrelevant. We either re-skill our people, or face becoming redundant”.

About Aquent:
Aquent (www.aquent.com) is a global firm specialising in staffing solutions for the Marketing, Communications and Creative industries. Through a network of nearly 70 offices in 17 countries, Aquent services in the areas of print and Web design and Production; Advertising and Media, Marketing, Public Relations and Business Support. In its twenty-year history, Aquent has made nearly 400,000 matches of independent professionals with client companies worldwide. The company’s Asia-Pacific headquarters are in Sydney and global headquarters are in Boston, Massachusetts
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