Russell Reynolds Associates: Marketing Moves 2015: Q3-Q4

In order to understand trends in the marketing officer function, Russell Reynolds Associates tracked and analyzed 146 notable publicly-reported marketing leadership moves in the last half of 2015.

The marked turnover in the Consumer Digital and Media industry illustrates the pull of talent from a segment that understands transformation and different ways of digitally connecting with the consumer. This need for marketing leaders who have grown up with social media, mobile engagement and innovative ways to deliver content is seen in most consumer-facing segments. While this is nothing new, we are starting to see more companies seeking marketing experts with heavier experience in insights and data and analytics. It is worth noting that when companies sought external talent, they often brought in marketing experts from consumer-facing companies. This especially was true in the Financial Services segment.

Increasingly, growth and innovation are being listed as mandates for new marketing leaders. The role of the marketing executive is no longer as siloed and is more than the sum of its parts—customer acquisition, operational efficiency, engagement, brand development, and content. Leaders appointed today are expected to collaborate across functions in order to unlock the potential of all marketing efforts and help drive growth and innovation in an organization.

KEY FINDINGS

• As we have seen year over year, more marketing leadership transition occurred in the second half of the year (146) compared with 134 in the first half.
• These transitions reflect a growing demand for marketing talent with the following capabilities: – Digital DNA – Growth and Innovation – Operational Experience
• During Q3 and Q4, the Consumer sector accounted for more than half (54%) of all reported marketing leadership appointments, followed by the Technology sector (22%).
• The proportion of external appointments in 2015 rose from 63% in the first half of the year to 73% in the second half of the year. For internal appointments, the average tenure with the company was close to seven years prior to promotion.
• Financial Services experienced a strong and consistent trend toward hiring marketing leaders from outside the industry. More than 60% of Financial Services marketing appointments in the last year brought leaders in from other industries, mainly the Consumer sector, emphasizing the increasingly customer-centric nature of the industry.
• Consumer and Technology, however, tended to recruit from inside their respective industry. Seventy-nine percent of all Technology appointees and 74% of all Consumer hires came from within the same industry.
• Last, we examined the career path of marketing leaders who left their previous role in the first half of 2015 to see their next move. Over half left to pursue a new opportunity, while one in five were promoted internally to a non-marketing role.

To read the full report, click here.