The Importance of Talent and Investing in Human Intelligence.
People are at the core of the agency business. As a result, agencies can never out-tech tech companies.
It is more important than ever for businesses to invest in human intelligence. This is especially true for service-based companies like advertising agencies, which rely on creativity and ingenuity for results.
While technology and AI can be valuable tools, they are just that, tools.
They can never replace the human touch, emotion, and spirit. People are at the core of the agency business, and their unique skills and perspectives allow agencies to provide their clients with the best possible service, both today and in the future.
And from a client point-of-view, I would ask their agencies how they are growing and adapting their teams. Because if the agency’s teams are stagnant, so is the client’s business.
Talent-first.
The importance of motivated and diverse talent in the service-based industry cannot be overstated. A recent study by the Boston Consulting Group found that companies with more diverse workforces are more innovative and profitable. This is because a diversity of thought leads to a diversity of ideas and creative solutions and a better understanding of the needs of different customers. (I wrote about this when Fortune interviewed me in 2014 on diversity.)
Advertising agencies must prioritize their talent and become "talent-first" businesses. While technology and AI are valuable tools for agencies, they will never be able to out-tech tech companies.
Investing in talent is way beyond cookies, cupcakes, and happy hours. And way beyond training courses.
Talent will invest in an agency when they feel invested personally.
It is also interesting to note that while efforts are being made to hire entry and mid-level talent, less attention is given to senior executives - these execs are responsible for setting the vision for the future and investing in talent and Human Intelligence.
For the agency sector to evolve, it must invest in talent at all levels. Otherwise, it will become a race to the bottom.
Much has changed in 2023, yet the lack of investment and treating talent as a commodity is clear. (Q4 2022.)
G.R.O.W. + Clear rewards.
By investing in talent, agencies can evolve and succeed in a rapidly changing industry, and yet, investing in people (thus human intelligence) can be challenging. It requires a commitment to organizational restacking, training, measurement, and well-being. However, the rewards are clear. By investing in their people, agencies can create a culture of innovation and creativity that will help them succeed in the future.
In keynotes and client workshops, I present a model that helps companies reset teams and places them on a path where people shine. And when people shine, generally, a business does as well.
GROUPS + TEAMS
Small, perfectly balanced teams are more creative, solve problems faster, and are more likely to succeed. In addition, small groups create a space where people feel valued and supported and are engaged.
RESPONSIBILITY + RESPECT
In this section, we build out the three areas of the team or company and their values. Called BE, we build Beliefs, Belonging, and Behavior. This is the brand of the company and team. And, of course, a diverse workforce brings a broader range of perspectives and experiences.
OPERATION + ORGANIZATION
The rigor and flow come to life. Clearing roadblocks, building roadmaps, reporting lines, and looking to the future.
WELLNESS AND WELL-BEING
Most companies focus solely on this area. We build a place where people come to work on a Monday excited and finish the work-week content. Go above and beyond a competitive salary, benefits, and positive work environment.
End
By investing in human intelligence, agencies can give themselves a competitive edge in the marketplace. In today's ever-changing world, having a creative, adaptable, and innovative workforce is more important than ever.