Losing Talent Is What Keeps These CEOs Awake at Night

How do you keep new blood amid fee cuts?

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Asked today to identify the No. 1 threat to their businesses, the leaders of agencies and new technology companies differed a bit in their responses but overlapped on the issue of talent.

Beyond the prospect of tech players circumventing agencies to work directly with marketers, Benjamin Palmer, CEO of The Barbarian Group, said, “We have to stay ahead from a talent perspective.”

Echoing that concern, Magna Global CEO Tim Spengler noted that the commoditization of media agencies has driven down their fees, which in turn leaves less money to invest in new types of talent.

“That’s happening on the creative side as well,” said Durk Barnhill, the New York CEO of Saatchi & Saatchi.

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