Caroline Johnson, director and co-founder of The Business Model Company, talks to editor-in-chief Omar Oakes about why media agencies are no longer fit for purpose and need to get rid of charging models based on employees' time.

Agencies that provide media, advertising and marketing services are having to work harder than ever while hiring increasingly expensive talent to stay relevant. Johnson argues that agencies need to reposition themselves as consultants and start charging based on the outcomes they provide for advertisers, not just units of time spent working on an account.