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PRCA Membership Benchmarking Survey: Key Findings 2008

PRCA Membership Benchmarking Survey: Key Findings 2008. June 2008. Background. Annual PR industry benchmarking survey undertaken by Russell Bell (independent research consultant) 141 PRCA members contacted (incl. 10 new contacts after interviewing began) Three elements in the survey:

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PRCA Membership Benchmarking Survey: Key Findings 2008

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  1. PRCA Membership Benchmarking Survey:Key Findings 2008 June 2008

  2. Background • Annual PR industry benchmarking survey undertaken by Russell Bell (independent research consultant) • 141 PRCA members contacted (incl. 10 new contacts after interviewing began) • Three elements in the survey: • 65 HR Director questionnaires • 73 MD/CEO questionnaires • 67 FD questionnaires • Four consultancy size bands defined by income: • Small: up to £850K • Medium: £851K - £2.5 million • Large: £2.51 - £5 million • Very large: greater than £5 million Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  3. Finance Directors

  4. Industry growth - Small consultancies Figs in £000s +21% +16% Base: Q2 67 FDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  5. Industry growth - Medium consultancies Figs in £000s +6% -1% Base: Q2 67 FDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  6. Industry growth - Large consultancies Figs in £000s +7% +14% Base: Q2 67 FDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  7. Industry growth – Very large consultancies Figs in £000s +7% +1% Base: Q2 67 FDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  8. Operating margin Net pre-tax profit as % of total net income Sm: 19% Med: 14% Lar: 17% V Lar: 16% Base: Q2, 67 FDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  9. Reported growth over time 99-00 00-01 01-02 02-03 03-04 04-05 05-06 06-07 Base: Q2, 67 FDs (NB – basket of consultancies changes each year) Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  10. Over-servicing rate Base: Q8, 67 FDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  11. Offer payment by results/performance related pricing Base: Q17, 67 FDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  12. HR Directors

  13. Churn by consultancy size Base: Q2, 65 HRDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  14. Churn by job level Base: Q2, 65 HRDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  15. Next career moves Base: Q3, 65 HRDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  16. Staff retention strategies (past 12 months) Q28 Base: 65 HRDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  17. Employment prospects: coming 12 months Q29 Base: 65 HRDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  18. Made redundancies in past 12 months Base: Q26, 65 HRDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  19. Average salary increases over time Base: Q6, 65 HRDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  20. Average bonus as % of salary over time Base: Q6, 65 HRDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  21. Financial benefits currently offered Q11 Base: 65 HRDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  22. Performance-related benefits currently offered Q11 Base: 65 HRDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  23. Lifestyle-related benefits currently offered Q11 Base: 65 HRDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  24. Career-related benefits currently offered Q11 Base: 65 HRDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  25. MDs/CEOs

  26. Industry outlook for next 12 months Q16 Base: 73 MDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  27. Top 7 threats to PR industry success 10 = very serious threat 1 = not a significant threat Q1 Base: 73 MDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  28. Client relationships: key drivers of success % = proportion selecting as one of top three drivers Q15 Base: 73 MDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  29. Income growth forecast Base: Q3, 73 MDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  30. Operating margin growth forecast 2007 vs 2006 Base: Q4, 73 MDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  31. Top 6 internal business issues % = proportion selecting as ‘critical internal business issue’ Q2 Base: 73 MDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  32. New business leads and pitches - 42% reactive leads result in new business pitches- 31% proactive leads result in pitches - 52% success rate with pitches following reactive leads- 43% success rate for pitches following proactive leads - 23% success rate with reactive leads - 13% success rate with proactive leads Qs 6,8,9 Base: 73 MDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  33. Reactions to current economic climate * Unprompted answer category (others are prompted) Q5 Base: 73 MDs Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  34. Income forecasts vs actual income growth Forecast in 2007 survey - MDs Actual growth in 2008 survey - FDs All : +28% All : +7% Small : +42% Small: +21% Medium: +26% Medium: +6% Large: +7% Large: +22% Very Large: +14% Very Large: +7% Russell Bell, Research Consultantrussell@hadhamassociates.co.uk

  35. End For more information, please contact: Russell Bell on 07747 194581 or +44 7867 531557 russell@hadhamassociates.co.uk

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