I have always had a bit of an issue with agency league tables, which are very prevalent at this time of the year. Not in a bad way as we have been fortunate to have been treated kindly in many of them over the years.
 
But while they celebrate, record and report on fee income and growth (or I guess, contraction), I’ve always felt that they miss out on the most important stat in my book and in doing so fail to celebrate some of the unsung heroes of this industry.

In terms of what’s missing, it is the all-important commercial success measurement, profit.

“Size matters not” as Yoda said rather wisely in Star Wars. And in terms of the people that help make this happen I’ve always felt that we should doff our caps more often to the financial brains of the PR industry.
 
How often do you see a financial director quoted in the trade media? How many FDs do you spot at awards ceremonies (we always take ours by the way, and he eats a lot, believe me)? How many awards recognise commercial success? Does the industry properly acknowledge the role the finance people play? I would argue “not really“.
 
While Frank is known as an ideas agency, the commercial side of the business is just as important, if not more so. We’re focused on the bottom line and over the years, the FD has always been a key person in our business. Just as important as all the fantastic PR people that bring the ideas to life.
 
I’ve always spent a big part of my working time with the FD. I think the CEO/FD relationship in a PR agency is a key dynamic.  Not only going through the numbers for the month and year, but in assessing and calculating various options within the business. A good CEO can then apply his or her creativity to their PR business and a strong and respected FD can knock it into shape, or say it just doesn’t make commercial sense, or take that thinking, reshape it and steer everything off on a new and even better course.
 
And it’s not only the profit-and-loss account and balance sheet where a good working relationship with an FD can make a difference. We’ve always been keen on the relationship side of the business with clients and other stakeholders and the contractual aspects of that. Again, with the right encouragement and involvement, an FD can make a huge impact on that.
 
At many agencies, the FD and team are shoved away in a back office, perceived as just the “number crunchers“. They are kept separate from the other PR staff and it is no surprise that a them-and-us pattern develops internally, which I think is detrimental to developing a commercial culture in agencies. Here we have no separate offices, with the accounts guys as connected to the business as everyone else. Indeed, the finance guys are the first people you’ll see as you come into our open-planned offices.
 
However, judging by the picture taken of Frank’s FD just the other day, this might not be such a good idea!