100% aligned on the approach, but I think the post overlooks the complex set of considerations when looking at swapping FTEs and media budget. Applying unused churn is relatively easy, but making full swaps between FTEs and media budget needs a longer view as new, high quality FTEs aren't easy to find, and more importantly, laying people off to expand working dollars - while it may be financially efficient - isn't something to do on the regular. And if one finds themselves doing it, it's probably time to revisit the annual planning process.
Definitely in agreement. Though I will say, when it comes to swapping FTEs, sometimes it's actually best to head in the other direction. One of the best ways to increase working dollars - if you can pull it off - is migrating to an in-house agency model, increasing your FTEs while decreasing your agency expense, and applying the difference to your working dollars. So there's also the scenario where increasing your FTE can lead to increased investment in-market.
100% aligned on the approach, but I think the post overlooks the complex set of considerations when looking at swapping FTEs and media budget. Applying unused churn is relatively easy, but making full swaps between FTEs and media budget needs a longer view as new, high quality FTEs aren't easy to find, and more importantly, laying people off to expand working dollars - while it may be financially efficient - isn't something to do on the regular. And if one finds themselves doing it, it's probably time to revisit the annual planning process.
Definitely in agreement. Though I will say, when it comes to swapping FTEs, sometimes it's actually best to head in the other direction. One of the best ways to increase working dollars - if you can pull it off - is migrating to an in-house agency model, increasing your FTEs while decreasing your agency expense, and applying the difference to your working dollars. So there's also the scenario where increasing your FTE can lead to increased investment in-market.