The value business

Last week, The Bookseller reported on the findings of a first ever Female Leadership in Publishing workforce survey supported by this magazine and The Women’s Prize. Based on 749 responses, that survey paints a mixed picture of the sector: it found that 77% of respondents enjoyed their work – one described it as privilege to be part of the “knowledge industry” – but the flip-side was the wear and tear: 41% said their tasks exceeded their job description, while 97% admitted to having felt burnout.

Those from traditionally underrepresented backgrounds were more likely to feel their workloads were unsustainable, with career progression also underwhelming with just 25% of the overall survey cohort feeling that they had a clear understanding of what this might look like. That, combined with the low rates of pay, raised questions over how committed book publishers were to retaining a young and diversified workforce.

The results are not out of step with previous surveys undertaken by The Bookseller and others. In 2022, emerging from the pandemic, a study we ran showed high levels of stress and burnout, with 38% of the 230 respondents wishing to leave their jobs. The topic is now a regular discussion point at our conferences (and beyond), while in 2022 the agent Nelle Andrew remarked that agents were feeling the pressure too: “I have a ‘sheet of shame’ colour coded in all the varying rainbows of guilt for what I am waiting on, have not done and need to do.”

The common theme is that we put books before people, and while the books endure, the people do not

The common theme is that we put books before people, and while the books endure, in truth sometimes the people do not. Some announce their departures on social media, or in The Bookseller; some, such as former Penguin Random House editor Katy Loftus, write about it – “I was once told to fake it ’til you make it. Now that I’ve made it out of the well, I can tell you with certainty that that advice is Bad Advice.” Others just disappear, an email unanswered, or a name change on the contacts database.

Corporate publishers are often in the firing line when such surveys come around. They employ more staff, and often in departments that can appear a long way from the end product. Yet it is these bigger enterprises that are the ones with HR departments, and the means to set the direction of travel that others might follow.

In his interview, marking Simon & Schuster’s centenary, c.e.o. Jonathan Karp talks about “inclusive capitalism”, in that case giving staff a financial stake in the business. We won’t know for a while who this really benefits – private equity parent KKR is the shareholder that really matters here, and staff may require their benefits sooner rather than later – but nevertheless rewarding owner mentality is a smart move for a business that is reliant on staff going above and beyond to fulfil their roles.

S&S co-founder Max Schuster once said: “Don’t pass judgement on a manuscript as it is, but as it can be made to be.” He is right. There is value in that work and therefore the follow-up is that we need to appreciate those who do the graft as much as we do the result of their endeavours.