Why Q4 is an ideal time to hire and onboard new employees

Don’t write off December!

Over the years, we’ve noticed a troubling pattern: hiring tends to go on hiatus in Q4. 

It’s certainly not because business has slowed. With leadership focused on hitting year-end numbers and top performers aiming to make their bonuses, there’s plenty of activity afoot. But as talent acquisition professionals, we’ve come to expect a lull in our workload each year heading into fall. And while we understand the reasons, we see it as a missed opportunity. 

Placing searches on hold and pushing back start dates might seem like a good idea. After all, the holiday season is coming up, lots of people will be on vacation, and hiring managers are looking forward to some downtime. However, putting staffing off till January can waste precious time that you can’t get back. 

Q4 is actually a great time to hire and welcome new employees to your team. Here’s why.

1. There’s less competition for top marketing, advertising and creative talent.

Employers may be resting on their laurels at the end of the year, but top candidates in marketing, advertising and creative fields are on the move. Holidays or not, candidates are actively looking for new opportunities this time of year. This means you have a real shot at adding to your team a few marketing rockstars that your competitors otherwise might have snapped up any other time of the year.

2. You can avoid burning out your team (and keep billing).

For many consumer brands and nonprofits (and the agencies that serve them), the holidays are actually a high-volume time of year in terms of sales and revenue. Not having a full team means you may not be operating at peak performance (or billing the hours you expected) – and during the busy season, that can cost you money. Hitting a ceiling on growth is never fun, and especially not during the time of year when the lion’s share of revenue is expected.

Not to mention this stretches your existing team far too thin during a time when everyone else they know is relaxing at home with friends and family. It’s a recipe for burnout you can easily avoid by staffing up in Q4, rather than waiting for that “ideal” moment in the new year.

3. Your new hires get to learn ‘by osmosis’ while your team strategizes for the year ahead.

The end of the year is a natural time to reflect on the progress you’ve made, reassess the challenges you’ve faced, and look forward to what you hope to accomplish in the months ahead. 

This gives your new employees a unique opportunity to absorb information about the company and their role that will be vital to their success, simply by being in the room during important discussions.

Your new hires get to see the 30,000-foot view before the year begins and before they (and everyone else) get caught up in the day-to-day.

The fresh perspectives that new team members bring can also open your eyes to alternative approaches, potential obstacles you haven’t anticipated, or trends you might have missed – before your plans are set in stone.

Including new team members in these important discussions can also help you bond with new hires and help them feel valued and welcome.

4. You can hit the ground running in January.

As we all know, returning from the holidays at the first of the year can be grueling. The transition from festivities and Hallmark movie binges to a calendar chock-full of meetings and deadlines can be a shock to the system. Not the best atmosphere for onboarding a new hire. 

When you fill open positions in Q4, you avoid thrusting new hires into the weeds on day one. A more laid-back schedule means they have space to review materials, and get up to speed on your systems and technology rather than jumping right into a project. And while your team is less busy, they can show them the ropes.

Most employees don’t start contributing immediately, anyway. A late-year start date gives them plenty of time to get acclimated before their output is truly needed.

5. ‘It’s the Most Wonderful Time of the Year’… to mix and mingle!

Ramping up in a new role is about more than getting the hang of the job itself. Fitting in — meeting your co-workers, learning who’s who, and familiarizing yourself with the company culture — is a big part of onboarding success. 

But when your team is remote or hybrid, opportunities for face time are less abundant – except, perhaps, at the end of the year. Q4 hosts a flurry of in-person events, lunches and holiday parties. No matter what traditions your employees celebrate, or how many of them work remotely, year-end is a wonderful time to gather in-person.

All the merrymaking provides a natural opportunity to introduce new employees to the rest of the team (and clients) before everyone retreats into their home offices for the rest of the winter.

This worked well for Brittani Kroog, who kicked off her remote job as Recruiting & Talent Sourcer at Freeman+Leonard in Q4 of 2021 with an in-person day at the company’s coworking space. “It was great meeting HR, IT and my manager in person, followed by a team lunch. That was a very personable first day,” she says. “Starting in December also meant I got to have social time with everyone for the holidays, which was so nice.”

Getting bumped to January means missing out on the casual team bonding and personal connections that Q4 onboarding affords. (Plus, your Q4 new hires will get to be in on the holiday party inside jokes in January, instead of feeling even more like an outsider.)

It’s not too late to add to your team this year.

Whether you’re thinking about pausing an active search or delaying a new search for the next couple of months, we encourage you to think again. 

We see it every year — employers who continue to recruit in November and December have an edge over those who don’t. 

The marketing and advertising talent experts at Freeman+Leonard can help you with your search and onboarding process year-round. The hiring landscape is still competitive, but strong candidates enter the job market daily. Strike while the iron is hot, and don’t miss your chance to tap the advantages of Q4 onboarding. 

Use the contact form below to reach out and start a conversation. It costs nothing to explore your options.

Get in touch with a Freeman+Leonard consultant today:

17 unique job perks and benefits to attract and retain top marketing talent

In today’s job market, it takes more than a great salary to win over top marketing and advertising talent. Many companies – whether to differentiate themselves to top candidates, offset a slightly less-competitive salary, or incentivize their workers to return to the office (rather than simply require that they do) – are getting much more creative with the benefits and perks they offer.

As you consider which benefits to offer your workers, or which perks to add to your own job-search wish list, be inspired by these innovative employers. 

1. Fully paid health and dental plan premiums

While there’s nothing new or unusual about offering health insurance to your workers, we’re seeing more companies offer fully paid premiums for low-deductible health, dental and vision insurance.

For example, Airtable, a SaaS company based in Austin, pays 100% of its employees’ health and dental plan premiums, among many other perks. 

This trend is spreading to the advertising world. We know of several Dallas-based independent agencies, including Arm Candy, that cover health insurance at 100% for employees as well as their family members, including health, dental and vision, and even life insurance.

2. Unlimited and mandated PTO

At Airtable, there is no formal vacation policy, but employees are encouraged to take at least a minimum amount of PTO, usually between three and five weeks. And at Dropbox, employees are allowed to take up to four consecutive weeks off per year, fully paid.

Though Netflix was among the first to offer unlimited PTO, the popularity of this perk has certainly grown. But just because a vacation policy is generous doesn’t mean people will feel comfortable in actually taking the time off.

So at Arm Candy, PTO is not only unlimited, it’s mandatory. A minimum of 15 days off per year is required to even be considered for promotions and raises.

3. More frequent performance and compensation reviews

One tech company in Austin with an already generous PTO policy encourages their highest-performing employees to take even more paid time off. But how do you know if you’re one of them? Easy. Performance reviews take place every six months instead of just once per year – so you always know where you stand, and what to improve on.

And they’re not just performance reviews, but compensation reviews: In addition to confirmation of that extra PTO permission slip, high-performing employees can generally expect a raise every six months.

4. Stock options and bonuses

Financial compensation can come in many forms. Companies unable to offer highly competitive salaries can make up for this with other financial incentives.

One employer in Texas offers Restricted Stock Units at onboarding, with the opportunity to earn additional RSUs every six months based on performance reviews. RSUs are also randomly awarded based on company performance.

And at Arm Candy, bonuses are paid quarterly rather than annually (or not at all), so employees have more frequent rewards for their hard work.

5. Flexible work hours and location

Overall, we’re seeing more employers emphasizing performance and measurable outcomes rather than the number of hours their workers spend in a physical office – or even log at home.

At Google, employees are offered PTO as well as four “work from anywhere” weeks per year. The rest of the year, employees enjoy a hybrid model allowing two work-from-home days per week for most roles.

But even if your company isn’t willing or able to embrace remote or even hybrid work, there are still ways to keep workers happy, like offering more PTO, sabbaticals or flexible work hours. After all, many of us are still working or online even after business hours, anyway.

6. No-meeting days and 4-day weeks

Regardless of where a workday is spent, it’s often full of distractions and meetings. It’s one thing for managers to encourage more-focused work time for their teams, or better time management techniques, and quite another to require it, and then create the structure to enable it. 

At Airtable, one day per month is declared a “recharge day,” where taking calls and checking email are discouraged. They also have “focus weeks,” which limit internal meetings so employees can focus on their actual work duties. At Asana, “No-Meeting Wednesdays” is a longstanding tradition.

Many advertising agencies for a long time have offered “Summer Fridays,” with employees encouraged to take Fridays off or leave early for the weekend. Now, tech startups like Basecamp and Buffer are on four-day work weeks – some year-round.

7. Paid parental and family leave

While there’s nothing new about maternity leave, historically it’s been paid out by short-term disability plans based on a percentage of the employee’s salary. Recently we’ve seen a greater number of employers offer fully paid leave for any employees who’ve recently welcomed a child into their home.

More companies are expanding this type of leave to meet a variety of family care-giving needs. Deloitte offers 16 weeks of PTO to “bond with a child as a result of birth or placement for adoption and/or to care for a spouse/domestic partner, parent, child, and/or sibling with a serious health condition.”

There are many ways to show you’re a family-friendly workplace. Independent agency PMG gives all new parents a $250 gift card to spend on diapers or anything else needed – PMG even temporarily turns off new parents’ email and Slack access while they’re on leave.

8. Health and wellness perks

There are more options than just insurance for promoting employee health and wellness. One Austin-based tech company offers a “digital” wallet funded at $200 a month for pre-approved items like fitness equipment and personal training sessions. Money can accumulate and be used anytime. A second digital wallet is funded with $1,000 for other wellness benefits, including mental health counseling, which must be used within the year.

Deloitte offers a well-being subsidy of up to $1,000 per year for qualifying well-being expenses. 

9. Fertility and family-building benefits

More and more companies now offer fertility and family-planning benefits, either through their health insurance plans or specialized benefits providers like Carrot and Progyny. In 2021, FertilityIQ discovered an 8% increase in the number of large companies (across multiple verticals) who had introduced new fertility or family-building benefits or enhanced existing benefits.

10. Child care stipends and backup care centers

It doesn’t take a global pandemic for employers to realize that working parents with reliable child care are more productive. Over the last few years, more companies have begun offering workers child care benefits, including child care stipends and reimbursement, dependent care flexible spending accounts, and backup care centers like those offered by Bright Horizons. USAA, Adobe, Bank of America and others are supporting working parents with childcare benefits. 

11. Professional development and tuition reimbursement

In addition to in-house curriculum and mentorship opportunities like Enterprise’s management training program, many Fortune 500 companies including Google, Bank of America and IBM offer tuition reimbursement for degree programs relevant to an employee’s job, including MBAs and other graduate degrees.

But even on a lesser budget, there are many ways to invest in your employees’ professional development. Paying for certification programs or offering memberships to online course platforms including Coursera allows you to help your employees develop their skills without feeling like you’re sending another kid to college.

On an even smaller scale? We also like Teamwork’s two libraries, stocked with books applicable to various job functions. Totally doable (and makes for great office decor). For a digital option, try Blinkist.

12. Charitable donation matching and volunteer days

Many companies for a long time have offered donation matching and paid time off to volunteer, and we’ve seen this perk increase in popularity over the last few years. Footwear brand Timberland even offers up to 40 hours per year of paid time off to volunteer! 

Helping your workers support causes meaningful to them can foster a sense of community at your company. Plus, compassion and kindness are good for brain health – so you may even find your employees coming back to work feeling less stressed and more productive.

To get started, draft a volunteer time off policy, or reach out to your local United Way to start a Workplace Campaign.

13. Home office expenses

A comfortable home office setup is critical for getting things done in remote and hybrid work models. More employers are offering stipends to their workers for anything they need to focus better at home – from office furniture to extra monitors or computers.

The aforementioned Arm Candy even pays your cell phone bill with a monthly mobile stipend of $125 per month.

14. Discounts and free products

Consumer-facing brands have an advantage on this one. If your company sells a product to consumers, it’s an easy win to offer it to your employees for free, or at big discounts.

The travel industry might’ve pioneered this perk. Employees of many airlines, including Southwest, get unlimited free flights for themselves and their eligible dependents, plus travel discounts and benefits at hotels, rental car companies, theme parks and even other airlines.

A prominent fashion retailer we know gives their employees a product stipend so their staff can wear the current trends and clothes being sold in-store.

Agencies can also negotiate with their consumer-brand clients for deals on discounted merchandise for their employees. Any employer can set up an employee discount portal thanks to platforms like BenefitHub.

15. Fun surprises and gifts

Though not something you’d list as a formal benefit, sending employees random gifts to thank them for a job well done boosts morale.

Rather than logoed tchotchkes and conference swag leftovers, send gifts your employees will actually want and use. One SaaS company in Texas has been known to send to its top performers high-end luggage, North Face clothing and golf equipment.

16. Concierge services and lifestyle benefits

Once reserved for Silicon Valley and high-powered executives and lawyers, time-saving concierge services are becoming more common as a company perk. 

Running errands for employees, maid services, grocery and meal delivery, subscription services and more – employers are offering lifestyle perks to help their team members feel supported while allowing them to focus more on work – and less on the errands and chores of daily life.

17. Dog-friendly office

One of the drawbacks to going back to the office is leaving our four-legged friends behind. Especially those of us who adopted pandemic puppies who, naturally, developed a bit of separation anxiety after their owners had barely left their sides for two years.

Letting your employees bring their dogs to work is an adorable and easy way to boost morale – and for hybrid workers might even boost office attendance.

Benefits can sharpen your competitive advantage

Despite the variety of perks offered, all these employers have one thing in common: They understand the market forces driving candidates’ choices, and they’ve found ways to ensure those forces work in their favor. And – they listened to what workers said they wanted, knowing their people are their best asset and competitive advantage.

Whether remote or in-office, few people will take one job over another purely based on fringe perks, but they do increase the overall perceived value of compensation packages. And when employers put time and effort toward crafting generous benefits packages, they also send a message to candidates that they are valued. Ultimately, they’ve made it easier for high-performing employees to say yes to staying at their company, or joining in the first place. We applaud their innovative thinking, and we encourage more employers to do the same.

Before making your next hire, reach out to the talent experts at Freeman+Leonard. We’re more than just a staffing firm — we’re a marketing solutions company, with deep expertise in the marketing and advertising industry and a consultative approach to client relationships. To deliver world-class marketing for your brand, we’ll help you determine who you need, and how you need them – then craft a compelling job description and compensation package to attract the strongest candidates for each role.

Ready to find your next great hire? Use the contact form below to reach out and start a conversation, no strings attached.

Get in touch with a Freeman+Leonard consultant today:

How to compete for top marketing and creative talent

At Freeman+Leonard, we’ve seen a sharp increase in demand for marketing and creative talent across a variety of disciplines. The increasingly competitive hiring landscape means employers must work a little harder to attract top candidates — and keep them onboard. 

So what are high-performing marketers and creatives looking for in an employer today, and how can you stay competitive as you grow your team?

Here’s what we’re advising our clients:

Get back to candidates quickly. Top talent won’t wait around.

Statistics show that 69% of applicants lose interest if they don’t hear back within two weeks of applying for an interview, and this tends to be more likely the more senior the candidate.

Not being responsive enough is one of the biggest reasons we see companies lose out on top marketing and creative talent. Fortunately, it’s easy to fix.

Clear communication throughout the interview process is key to sustaining a candidate’s interest. This includes responding to candidates in a timely manner, following up on next steps, and streamlining the process as much as possible. Prove to the candidate that you respect their time and talents by keeping the interview process streamlined and being as responsive as possible.

Be prepared to sell candidates on the opportunity — and your company.

The job description is the candidate’s first impression of your company, so make it count! Highlight your financial stability and reputation right there in the job description. Especially in this pandemic, candidates are interested in how the company is faring. Use this valuable real estate to demonstrate that you’re not only stable but thriving. 

Candidates will do their research on a company before applying, so pay attention to your online presence including your website and social media channels. These channels should highlight stories about your team members, your diverse culture and career growth opportunities at your company.  

It’s also never been more important to talent that their employers’ values reflect their own, and that they can see themselves at your company.

Beyond stability and reputation, candidates want to see a welcoming, diverse and inclusive corporate culture. Make sure you’re not just communicating, but demonstrating, a top-down commitment to diversity and inclusion. Organizations that commit to having their workforce reflect the diversity of the world around us aren’t just more likely to attract a broader range of top talent; they’re also stronger and more prepared for the post-pandemic economy.

Offer a more competitive salary, or be creative with compensation.

When presented with an opportunity, most candidates will first ask about the salary range for the role. Top candidates command higher pay, so offering a competitive salary, ideally above the national average, is often the most surefire way to attract top talent. Starting salaries vary widely for many reasons, including cost of living and scarcity of talent. As an employer, it’s important to be well-informed on the going rate for your city in order to compete for the best candidates. 

However, if you’re recruiting from other markets, don’t expect the cost-of-living increase or decrease to be simple math on base pay.

Similarly, higher-paid employees will not always be willing to take a pay reduction for another market.

The Dallas market, for example, offers starting salaries at nearly 9% above the national average, according to our own database and placement history. Candidates in this market will expect pay that’s slightly higher than other major Texas cities such as Houston and Austin. 

In addition to market averages, you should also consult salary guides for specific job titles. Salaries can differ significantly based on years of experience, niche experience and industry. 

Statistics show that 55% of professionals require a higher salary in order to change jobs, but that’s certainly not all candidates look for when evaluating a career move — and that’s good news for smaller companies or agencies with tighter budgets.  

If you’re not able to offer a higher salary, look for other ways to make the compensation package more attractive.

First, be sure to detail the total compensation when making an offer, not just the base salary. Often, looking at total compensation reveals an offer that’s higher than a candidate originally thought. After compensation, paid time off is often the second-biggest draw for candidates. An extra few days or a week of paid vacation can often seal the deal, as can a signing bonus.

You might also want to consider adding performance-based incentives. Those in more senior roles might even be interested in earning ownership or equity. If this is on the table, use it!

If possible, offer additional insurance benefits or cover a higher percentage so the employee pays less out of pocket.

Beyond that, we’ve seen our smaller clients successfully win candidates by offering perks that make up for lower base pay. Consider perks that make a healthier lifestyle possible, going beyond healthcare to offering gym memberships, massages and even lunch one day a week for onsite workers (some offer it every day). This even includes incentives for carpooling or riding a bike to work, or free train passes for commuters.

Free product or reduced pricing at retailers or manufacturers can also offset a less competitive salary, as can annual credits for conferences, training or professional development.

Avoid a reputation for turnover by being transparent with talent in the hiring process.

Turnover is costly, and it negatively impacts your reputation and the quality of your future hires. 

To avoid hiring the wrong talent and risking turnover, ensure everyone involved in evaluating talent is on the same page about your expectations for the role.

If recruiters and interviewers are clear on the job’s expectations and required skills and the growth opportunities at the company, honest and transparent conversations can happen immediately. 

Start by being as specific as possible when outlining the responsibilities for the position. Rather than using the same broad language as any other marketing job description, identify clear, niche skills that will help candidates know whether they’re a good fit — and help eliminate unqualified candidates from consideration. “Marketing manager,” for example, is a very broad job title and can mean different things to different people. 

Be specific also about the experience required for the job and the exact marketing experience needed — i.e., digital, mobile, shopper or otherwise.

After these volatile few years, candidates are concerned about the stability of a company. But it’s not just for reasons of job security; they also want long-term career growth. Use the interview process to understand candidates’ career goals and aspirations. If they can see themselves achieving these goals with your company, they’re more likely to stay with you long-term. 

Allow for flexibility and remote work.

In 2024, remote and hybrid work environments are the norm — and that means top marketing and creative talent will seek out this flexibility when evaluating their next move. For some, it may even be non-negotiable. To be competitive, don’t require your employees to physically show up to the office every single day if their role doesn’t actually require it.

Let them work from home at least some of the time, or implement flexible summer hours or early Friday release. It’s important to many candidates that they can work from anywhere while maintaining flexible work hours and work-life balance. 

Use this trend to your advantage. Remote work means your next top candidate could come from almost anywhere, so tap a bigger talent pool to increase the odds of finding a great match.

These shifts in the job market are not likely to change anytime soon. By taking these actions now, you’ll be prepared to attract top marketing and creative talent for years to come.

At Freeman+Leonard, we have the people you need, when you need them, and not when you don’t. And that includes some of the marketing industry’s most in-demand marketing and creative talent. 

Ready to find your match? Use the contact form below to reach out and start a conversation.

Get in touch with a Freeman+Leonard consultant today:

Advice from CMOs: How to cut your marketing budget during an economic downturn

It’s a long-held truism in our industry that when companies need to cut costs, marketing budgets are among the first to be slashed. However, during the COVID-19 pandemic, we saw this trend begin to shift, thanks in large part to our increased reliance on digital technology, and advances in marketing analytics. 

Today, marketing budgets have reset to pre-pandemic levels, and marketing is often seen as a revenue driver, not a cost center – but that doesn’t mean it’s safe.

As we enter another period of economic uncertainty, many marketing leaders are feeling a sense of déjà vu, and looking back at more recent history for the playbook, rather than 2008. While the advertising industry seems to be bracing for a downturn, with some sources forecasting drastic cuts over the coming years if consumer spending doesn’t turn around, marketing spend isn’t slowing among some of the world’s top consumer brands. In fact, total ad media spending is expected to continue its 13.2% growth trajectory year over year in 2022.

So, how are today’s CMOs thinking about and preparing for the period ahead? What would they do if given no choice but to tighten their belts? 

We asked them:

If your CEO and/or CFO approached you tomorrow and told you to cut 15% of your department’s total budget for the next 12 months, what would you cut and how?

The CMOs we posed this question to have “been there, done that” – and come out the other side with invaluable lessons to share. They not only bring a breadth and depth of experience that could prove helpful to marketing leaders in all industries, but they’re already having the tough conversations at a high level and preparing for what could be on the horizon. 

Following their lead will help you make smart, strategic choices for your organization and team, so you can emerge an even stronger leader. 

Here’s what our CMOs recommend.

1. Take an honest and unflinching assessment of where you stand.

Our first CMO presides over the marketing budget of a multi-billion-dollar global cosmetics company. She shared her step-by-step plan for gaining the clarity needed to move forward with confidence: 

Align and prioritize

“First, make sure that there is alignment regarding the key initiatives that are expected to drive the top line and bottom line next year. Then prioritize the key marketing support needed for the coming year,” she says.

Analyze performance

“Second, review all performance analytics, KPIs, and other important metrics to understand which programs, content, and campaigns met or exceeded goals to understand what is working best and why.”

Look at each expense area individually to determine where efficiencies can be achieved. 

“Review the performance of any agency resources to determine if you’re getting all of the value-added creativity, support, and service that you expect,” she says. “I’d also freeze all hiring, and review staff performance and skill sets to ensure that our best talent is fully leveraged – and our underperforming staff have a clear understanding of the level of performance that is needed and expected.”

“With the review process completed, you will have the best information available to guide your ability to identify where and how best to make budget reductions. This might include realigning or reducing staff and making other cuts.”

Your organization is counting on you to make shrewd decisions, and this data will ensure you’re making the best possible choices.

2. Make the tough decisions to reduce non-essential spending.

Another CMO led marketing for a popular direct-to-consumer apparel brand. “As a DTC company, my first priority would be to protect the budget that touches consumers,” he says. “Then, I typically look to my vendors to help us find efficiencies.”

Reduce vendor spending

For vendors who are replaceable or not otherwise integral to marketing operations, this CMO demands at least a 20% reduction in their fee structure. Same for any vendors whose products or services are underperforming, or don’t align with the key initiatives identified earlier.

A CMO for a retail automotive services chain also suggests cutting vendor fees and non-essential services. 

“Over time, marketing budgets can get bloated as we add services and analyses (e.g., competitive pricing studies, media allocation modeling, and creative testing),” he says. “It pays to regularly take a hard look at the value they add, but especially when facing recessionary pressures. If a program, tool, or analysis helps you make better decisions, deliver better-quality creative, or is a proven ROI builder, keep it. If there’s any question about its value contribution, cut it.” 

Our retail automotive services CMO also advises looking for ways to bring your most essential services and products in-house, especially if the result allows you to build something even more valuable and customized than any vendor could provide:

“Several years ago, we cut $1 million in fees by taking our CRM program in-house. We achieved the requested budget reduction, but more importantly, generated a much stronger result by focusing on the best elements of our former program.”

The reality is, not every vendor is essential, and some may need to tighten their belts, too, if they wish to keep you as a customer. This is where vendors who are true strategic partners – or aspire to be – can demonstrate their value.

Reduce nonessential travel and conferences

Our former DTC apparel brand CMO also recommends cutting nonessential travel and events. “One of the first things I do is eliminate unproductive trade shows and industry conferences. If its ROI is questionable, it has to go,” he says.

The CMO of a top-ranked business school agrees with finding ways to cut travel, “soft costs,” and other nonessential expenses – as long as these aren’t at the expense of her team’s continued education. “I try to avoid cutting any personal development expenses because, just like our students, we use downturns as precious time to invest in one’s skills, which ultimately increases their value to the organization,” she says.

Don’t reduce ad spend if you can help it

Our business-school CMO also feels strongly about not reducing media spend unless absolutely necessary. “If I were asked to cut my budget, as has certainly happened before, I would cut media and advertising as a last resort ONLY. We should be following the revenue, after all, and, if we’re doing our job, we are proving our ad dollars’ value via a defensible ROI,” she says.

“Marketing and advertising should be driving revenue and not be considered cost centers,” she continues. “This mindset always kills me! We move the needle and fill the funnel. Accordingly, we keep a tight handle on measurement. What you measure counts. And if it’s demonstrably impacting revenue, it’s the last thing an organization should cut. At all costs.”

Our retail automotive services CMO agrees, and looks for ways to rebalance media spend rather than cut overall. “In my business, traffic is paramount,” he says. “Consequently, I would cut back on top-of-funnel programs to help achieve the needed reductions while ensuring bottom-of-funnel, traffic-driving programs are properly funded.”

The key is having the data to back up these decisions.

“We track Return On Advertising Spend (ROAS) religiously and put hard thresholds in place beneath which we won’t invest,” he says. “I would target media that are at or barely above the threshold for reductions or elimination altogether. We do this pruning regularly and use the recovered budget to fund new media channels that test successfully.”

Testing is critical when consumer behaviors and purchasing habits are in flux. “Pausing these media tests is the last resort for reductions because you always want to have a pipeline of new successful media channels to drive future business,” he says.

Any CMO knows that maintaining awareness with your customer base is critical, even (perhaps especially) when revenue is expected to slow. But nowhere is this more evident than in the direct-to-consumer model. 

“Any marketing expense that touches consumers and shapes their experience of the brand should be protected,” our former DTC apparel CMO says. “Plus, that mindshare will be nearly impossible to claw back from your competitors when you start advertising again.”

Realign your headcount.

Staff reductions are usually one of the last places any department leader wants to turn when faced with financial hardships. Sometimes they’re unavoidable – but as we’ve seen in the last few years, they can be difficult to come back from. When the market normalizes, you won’t necessarily be able to staff up adequately to meet rising demand (and rising salaries). That cautionary tale is still unfolding; from supply chain issues to labor shortages, we need only look around us to see the effects of this in action.

But if budget cuts do require a change in staff, there are different ways to approach this, and philosophies differ. Our business-school CMO prefers to first review and potentially end the contracts of any freelancers not fully utilized. She then looks for ways to better leverage her full-time employees or help them improve performance if needed.

If required, our DTC apparel CMO would eliminate any full-time roles that are “nice to have” but whose primary duties can be carried out by existing staff. Then, he’d use contract talent to help cover any remaining personnel needs. “Many skilled marketers prefer to freelance now anyway, so that flexibility no longer comes at the expense of talent, experience, or high performance,” he says.

Don’t be afraid to explore on-demand options, too, such as creating a stable of freelance talent with different areas of expertise. These contractors can be trained in your brand messaging and creative standards so they’re ready to jump in as required. These unique staffing models are often very cost-effective while delivering high-quality marketing solutions and results.

And if a staffing cut seems unavoidable, consider payrolling. This solution allows companies to keep their current staff members while a provider like Freeman+Leonard manages their payroll and benefits. As a result, your team’s salaries are shifted from the marketing budget to another cost center while avoiding staff reductions.

The bottom line? There are more choices available to employers than ever before. No matter which approach you take, think carefully about how each current team member contributes to the team and which roles or skills your organization needs to succeed. Whether you choose to supplement with specialized contractors or upskill your existing team (or both), keep your eye on the long-term future, not just the conditions you face today.

3. Repurpose and reuse existing assets.

Being resourceful with your existing assets is the final piece of advice from our cosmetics brand CMO. 

“I would then ask my team to determine how we might best reuse, refresh, or repurpose proven content to decrease production costs and agency fees,” she says.

After all, why not benefit from all the great work you and your partners have already done? What has already been produced that generates results and is still relevant – and how can you breathe new life into it for this next chapter?

Rebalancing is key.

If you, too, are tasked with trimming your marketing budget, we hope the guidance of these CMOs provides a framework for those tough decisions. With data guiding you, it becomes easier to protect your highest-ROI marketing costs, and rebalance or redistribute your budget where needed most – positioning you for maximum growth and profitability when the market shifts (or even before!).

Whether shifting media weight from upper- to lower-funnel tactics, or creating more flexibility on your team, sometimes it’s not so much about how much you’re spending but whether you’re spending it on the right things, to the right degree.

At Freeman+Leonard, we partner with marketing leaders like you every day. With decades of experience, we’ve navigated our share of choppy economic waters, and helped hundreds of clients do the same. From helping you reduce overhead and leverage the right mix of permanent and freelance staff, to ensuring you’re paying for performance, our consultants will guide you every step of the way. It’s our privilege to play a role in your success in any market conditions. We’re not just a staffing company – we’re strategic partners and consultants to our clients.

Use the contact form below to reach out and start a conversation. It costs nothing to explore your options.

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