In recognition of the difficulties faced by many due to COVID-19, The Real Media Collective has announced additional member benefits for the new financial year including case-by-case fee reviews, monthly payment options and access to IR and industry training at no additional cost.
In a bid to maintain the retained earnings of the association so it can best support members during the coming year, the Collective’s CEO Kellie Northwood has also agreed to a 45 per cent pay cut for the 2021 financial year without a change in hours.
Staff at the TRMC have also dropped back to three or four day working weeks. Rental negotiations on the Collective’s office space in Melbourne have also been conducted with the result being zero rent due for the next six months with no payment deferral.
Additional cost saving measures to ensure maximum retention of earnings and strong cash flow include a reduction in license costs across campaigns.
“This period has been extremely challenging for our industry and whilst many members are communicating that they are seeing the recovery period begin with an increase in activity over the past four weeks, we know cash is king and they need our support more than ever,” Northwood said.
“To that end, we have implemented solutions to maintain our services for our members and the only way we can do that is to ensure our retained earnings are strong to support them through this period.”
TRMC chairman and CEO of IVE Group, Matt Aitken, said Northwood, the Board and the staff at the Collective have worked hard with supply and association partners to develop a strong, future-focused 12 month strategy.
“I want to thank Kellie and the team, on behalf of the Board and our members, for putting this solution forward to the benefit of us all,” Aitken said.
“Anyone who knows Kellie and the team understand how passionate they are about our members and the industry and this position just indicates how committed the Collective is to a strong industry moving forward.”
In addition to these measures, members will also be offered crucial industrial relations support, industry training, and access to government accreditations and partner programmes with other industry associations without having to pay the usual additional fees.
Northwood will oversee case-by-case discussions with members throughout July regarding membership options and fee structures.
“I’ve worked in this industry for twenty years and call many – if not most – members friends,” Northwood said.
“This alone forms a personal commitment to providing as much support as we can.
“The chapter ahead is a critical time for us to recover strongly, it wasn’t an option to simply sit back and not assist our members with our best foot forward.
“We reviewed all activities internally and determined we still needed to deliver the tools, services and advocacy the industry needs now more than ever. This solution provides members with support in the immediate year ahead and also provides stability for the Collective well into the future.”
Northwood said the move aligns with other businesses that have implemented remuneration reviews, shift reductions and commercial tenancy arrangements balanced with JobKeeper and other economic stimulus uptakes.
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