Media and Advertising: D- Grade for Attracting and Retaining Diverse Talent

Media and advertising ranks lowest among 15 industries for retention of multicultural summer interns who join our community fewer than 20 remain after three yearsMedia and advertising rank toward the bottom among 15 industries for attracting multicultural students from the top 30 universities and from colleges with a high density of multicultural studentsThe average duration in firsttime jobs is only ninemonths compared to 18 months just a decade agoAccording to a LinkedIn study media and advertising employees suffer the lowest morale and have the lowest entrylevel salaries among eight industriesYes many media and advertising companies support and help underwrite diversity and inclusion programs IRTS IDEA AdColor AdFellows the ANA AD CLUB Foundation 4As and IAB AdvancingDiversityorg and moreamp160 They deserve credit and supportamp160 There are those in our community who devote extraordinary personal effort to advancing multicultural diversity and inclusion they are owed praise and recognitionamp160 But they more than anyone realize how much of the support they receive is quottalking the talkquotamp160and not quotwalking the walkquotamp160amp160As an industry we are failing to attract and retain the diverse talent that will be required to succeed in the futureThis year through the MediaVillage 1stFive initiative we launched the 25 Under 25amp160program in response to feedback from multicultural summer interns who have in recent years attended the annual 1stFive Summer Intern Experienceamp160 Many of them informed us quotthey don39t see themselves fitting into the organizations they worked for or a path to success for people like themquotThe 1stFive Summer Intern Experienceamp160has welcomed more than 250 summer interns working in advertising and media each year for the past four yearsamp160 The retention rate for diverse young employees who joined us at each year39s event is more than twice the industry averageamp160 However after four years of hosting the 1stFive Summer Intern Experience with events at Turner OMD and Horizon Media we were not able to generate sufficient support this year to continue thisamp160successful and important programOur plan was to introduce a job fair add new speakers and educational components and reach out to local colleges and through targeted social media to assure a strong representation of multicultural candidatesamp160 Under the Jack Myers KnowledgeExchange we have also introduced a collegeloan relief scholarship program and created a nonprofit organization the Jacaronda Foundation to administer itWe will be introducing the 25 Under 25 initiative later this year selecting honorees from nominations of young emerging talent submitted by media companies agencies tech providersamp160and marketersamp160 Application forms have been sent via email to MediaVillage member companiesamp160 We will highlight them through profiles at 1stFiveorg and plan to honor them at a new industry event focused on and serving our community39s emerging leadersamp160 Our emphasis is on talent retention and promoting to college career development offices the inclusive diversity of our community amp160We are also expanding the PopUp Job Fair model we successfully piloted at the MediaVillage Advancing Diversity Honors induction held last January during CES where eight companies organizations and individuals including Unilever Ad Council IAB IPG Nielsen and others were honored for quotwalking the walkquot on diversity and inclusionAt the Advancing Diversity Honors event during next year39s CESamp160inductees will include PampampG39s Marc Pritchard Budweiser39s Ricardo Marquez the NBA39s Pam El Kat Gordon of the 3 Conference Madonna Badger of Badger ampamp Winters Robert Liodice and the ANAamp160and Alma Har39el of FreetheBidamp160 Look for additional details on 25 Under 25 and the Advancing Diversity Honors and hold January 9amp160from 330730 for our event during CESamp160 For details please contact Karlajackmyerscom

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Media and Advertising: D- Grade for Attracting and Retaining Diverse Talent

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Jack Myers

"About That with Carl Mayer": Involved Media Connected Audience Fall 2024 Report (Episode 5) - By Carl Mayer

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Media and Advertising: D- Grade for Attracting and Retaining Diverse Talent

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