What is the general scenario with respect to succession planning in the advertising industry?
I feel it is mixed. Some agencies have a clear line of future leadership, stated or unstated, while some don’t. I don’t think there is any formal structure.
The quality of people coming in to the advertising industry has dramatically changed over time. The level of commitment is not the same as it used to be. Do you think this is true? If yes, what impact has it had on succession planning?
As a holistic group, we are moving from a depth society to a width society in all forms of professional life. Talent coming in today definitely knows more things than we did. We didn’t know as much but perhaps a bit more thoroughly. It has therefore opened up the criteria for succession planning to multiple options.
If we may take the example of a company like PepsiCo, it becomes clear that there are a couple of people who have already been groomed to succeed Indra Nooyi. But the advertising industry is unique in the sense that a successor is often chosen out of necessity. What do you think are the reasons for the same?
In the case of most marketing/manufacturing industries, the ultimate objective for performance has stayed the same – to increase sales of existing products and to develop new products that sell. In advertising, with the services, products and business models undergoing rapid and huge change, the criteria for succession keeps shifting constantly.
I feel it is mixed. Some agencies have a clear line of future leadership, stated or unstated, while some don’t. I don’t think there is any formal structure.
The quality of people coming in to the advertising industry has dramatically changed over time. The level of commitment is not the same as it used to be. Do you think this is true? If yes, what impact has it had on succession planning?
As a holistic group, we are moving from a depth society to a width society in all forms of professional life. Talent coming in today definitely knows more things than we did. We didn’t know as much but perhaps a bit more thoroughly. It has therefore opened up the criteria for succession planning to multiple options.
If we may take the example of a company like PepsiCo, it becomes clear that there are a couple of people who have already been groomed to succeed Indra Nooyi. But the advertising industry is unique in the sense that a successor is often chosen out of necessity. What do you think are the reasons for the same?
In the case of most marketing/manufacturing industries, the ultimate objective for performance has stayed the same – to increase sales of existing products and to develop new products that sell. In advertising, with the services, products and business models undergoing rapid and huge change, the criteria for succession keeps shifting constantly.
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Source : IIPM Editorial, 2012
An Initiative of IIPM, Dr. Malay Chaudhuri
and Arindam chaudhuri (Renowned Management Guru and Economist).
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