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MediaBuyerPlanner: Recent magazine industry turmoil - disruption by the internet, revenue declines, buyouts, downsizing - seems not to have had an overwhelmingly negative impact on the job satisfaction of the magazine-industry workforce, according to Folio, writes MarketingCharts.
Folio's first-ever industry job-satisfaction survey found that nearly three-quarters (73 percent) of magazine workers say they are satisfied with their jobs, while more than a quarter (27 percent) say they are dissatisfied.
Other key findings:
- The most satisfied are corporate managers and events staff - 85 percent and 82 percent, respectively.
- The least satisfied are finance and sales staff - 60 percent and 66 percent, respectively.
- 80 percent of respondents said training and education are key to job satisfaction.
- Yet 70 percent said they spent less than 10 hours on job-related training in the previous 12 months.
- Fear of job loss is most prominent among mass/consumer and B2B magazines: 26 percent and 25 percent of their workforces, respectively, say they fear losing their job.
- 68 percent said their companies had not downsized in the previous 12 months; 32 percent said there has been downsizing.
- 22 percent said their companies have changed hands in the past two years
- More than one-third - 38 percent - of those that changed ownership were acquired by private equity firms.
- 74 percent of those acquired by PE firms said the impact was positive; 26 percent said it was not.
- 40 percent said they believe the industry's future is bright; 39 percent said it isn't (and blamed digital media).
- However, 64 percent said print remains the area of the company that has the most status.
(Folio: has many more findings and charts here, here and here.)
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