How many of us foresaw the meltdown and prepared ourselves to fight the depressed economic conditions without layoffs? Well, Contract Advertising did and took steps to counter the effects of the slowdown well on time, in fact as far back as May 2008. exchange4media takes a look at how the agency is faring today.
In an exclusive conversation with exchange4media, Surajit Roy, Senior VP and Branch Head, Contract Advertising Delhi, said, “Ours was one of the first agencies to realise that demand is going to fall for most categories, resulting in lower activities on our clients’ business. We read this very early on, say some time in May, and discussed the same with our clients. As a result, we were much better prepared to handle the conditions.”
According to Roy, to deal with such a scenario, effective communication was indispensable. He added, “The first thing we did was to communicate the same to all our people, requesting them for their support and cooperation in order to handle the impending scenario. We had made plans on resources and expenditure, and as a result, we do not have to lay off people or impact their remuneration/ compensation in a scenario where lots of people are doing this. This fact has come as an indication of our stability and solidness and has boosted the confidence of people in our organisation.”
Roy also made it clear that he stood by their people. “The regular course of increments/ promotions, though delayed, is being implemented, which has again resulted in a feeling of wellbeing and business as usual for our people, and because we anticipated things on time, we have not cut out on any of our regular activities – celebrations, birthdays, having parties, going for movies as an office, etc.,” he added.
He affirmed, “All this has been possible because people working in Contract are a spirited lot with tremendous belief in the organisation and as a result, people have taken the current scenario as a challenge to be overcome.”