Culture is my competitive advantage
Mark Coad, CEO of PHD, contemplates what he’d do if he took over a new agency. And in doing so, he shares his tips for a competitive advantage, because “the industry needs it”. The churn rate is too high. As is the perennial vacancy rate. And culture, he says, is the answer.
Last week, a close colleague asked me a question: How do you create a great culture, one that makes people feel supported and frees them up to think clearly and push for innovation and high performance? And then, this follow up: What three things would you do immediately if you took over a new agency?
Pretty good question, I thought. It takes more than three things, I said. But here goes…
1. Vision and values
I’d spend a lot of time defining our vision, purpose, values, and the things we are going to work on to achieve all of this. In other words – our what, why and how.
Culture is defined by a shared sense of direction and values. It galvanises teams, and should be developed by the executive team with a great deal of thought on how we share, articulate, communicate, and bring this to life with the whole company.
Congratulations Mark. The grapevine tells me you’re certainly getting it right at PHD. Well done.
Great piece!
Well said Mark.
Nice one Coads. One of the few CEO’s who has been able lead an agency to consistently perform and see the business thrive over time. I suspect the above has a lot to do with it.
Well done Mark – You have consistently delivered on these values.
Great piece Mark.
Mark is 1 of the finest leaders in the industry whatever side you are on – media, agency, client etc. To my knowledge he walks the walk not talks the talk. What seals the deal as a top bloke is he is a Geelong supporter.
Mark Coad. One of the real good guys of the business.
Good to deal with, good to work for, good to have as a friend.
Any vacancies going Mark?
Hi Like It,
Glad you asked! Due to growth resulting from regular new business wins and staff being promoted internally we’re always open to engaging with the best available talent in market so we can keep that vacancy rate close to 0%. If you’d like to share your CV with Fraser Rix (fraser.rix@omnicommediagroup.com) in Sydney or me (daniel.stockdale@omnicommediagroup.com) in Melbourne we’ll roll out the purple carpet and connect you with any relevant opportunities.
Cheers, Daniel
Hi Mark
Great article but what about ‘brand’. Where does the success of the PHD brand sit in your success?
The brand has been built on very smart people doing truely innovative things from inception. PHD is about the only traditional brand in media that stands for something.
I’d give that as much importance if not more than culture (which is probably next most importance
Ps brand is not just purpose and values.
Mice….[Edited under Mumbrella’s comment moderation policy] ….poor wages….
Mark, so true, easier said than done but doing nevertheless has to be the key. I dip my hat to you.
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Good read and well said Coady!