New research from the Chartered Institute of Marketing (CIM) reveals the key issues troubling marketers in 2024.
The latest Impact of Marketing report indicates that progress on diversity and inclusion is stalling, with 44% of respondents stating that their team has not become more diverse within the last 12 months.
Only about half of those surveyed (56%) felt that progress had been made on diversity and inclusion within their teams. Some respondents reported seeing a greater diversity of ethnicities (28%), genders (12%), and ages (11%) compared to a year ago. There was also marginal progress in neurodiversity (3%) and physical disability representation (2%).
Burnout and Wellbeing Concerns
The fast pace of the industry is impacting marketers’ wellbeing, with more than half (56%) fearing burnout in their current roles. This concern is particularly prevalent among younger marketers, with three-fifths (59%) of 25-34-year-olds worried about burnout, compared to 38% of 45-54-year-olds. This suggests that entry and mid-level professionals are experiencing the most stress.
Economic Pressures and Budget Cuts
Economic pressures are also a significant concern for marketers. Three-fifths (59%) are worried that brands will cut marketing budgets due to financial constraints. Additionally, half (49%) fear that the growth of the UK marketing industry will be surpassed by international competitors.
The Impact of AI on Career Development
The rise of artificial intelligence (AI) is another major concern. Half of the respondents (52%) are worried that new AI tools will overshadow parts of their jobs and hamper personal development. While most marketers (61%) believe they have the skills to adapt to new technologies, nearly two-thirds (65%) think AI is being introduced too quickly.
Mental Health and Hybrid Working
The research highlights a growing focus on mental health. Three-quarters (74%) of marketers believe their employers take mental health more seriously now than before the pandemic. More than half (57%) say their company’s mental health initiatives have positively impacted their wellbeing.
However, hybrid and remote working present challenges. Two-fifths (39%) of respondents feel that working from home has negatively affected their team’s creativity. Despite this, 70% believe that face-to-face interactions boost productivity, and 71% say in-person work positively impacts mental health. Yet, 59% report that it is now common to not meet new team members at all.
Industry Perspectives
Mark Scott, Director of Marketing and Communications at CIM, commented, “As we continue to operate in challenging times, it’s great to see the importance placed on the wellbeing of individuals by organisations. This ultimately drives better business outcomes and benefits individuals.”
Scott added, “Team retention will be a challenge for businesses in the second half of 2024. The cost of living crisis and inflationary pressures will require many of us to tighten our belts. Marketing leaders must prioritise the wellbeing of their teams to retain great talent.”
Future Focus on Diversity and Inclusion
Scott emphasised the role of marketing in driving diversity and inclusion: “While it’s encouraging to see some progress on ED&I initiatives, more needs to be done. Defining what good looks like in this area should be high on the agenda for every marketing leader.”
Training and Development
The 2024 update is the third and final instalment of CIM’s ‘Impact of Marketing’ research series, exploring the roles and careers of marketers in a post-pandemic society. CIM offers a range of online services, including webinars, podcasts, training materials, and courses. In May 2024, CIM launched three new qualifications, including a course on AI in marketing, to futureproof marketers’ skills.
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