With the executive employment market off to a strong start in 2006, a recent survey conducted by ExecuNet, the executive job search and recruiting network, suggests companies will be facing an uphill battle to retain their top talent in the year ahead.
According to the survey of 1,805 executives with an average salary of $193,000, 54 percent of men and 47 percent of women are not satisfied or somewhat unsatisfied with their current job. When coupled with an improving employment market, this unhappiness appears to have many corporate leaders looking for greener pastures. Nearly three-in-four male executives (74 percent) said they plan to change companies in the next six months, and while female executives reported higher job satisfaction levels, the majority (62 percent) are also looking to move on.
ìSoaring demand for executive talent has put the candidate back in the driverís seat,î says Dave Opton, CEO and Founder of ExecuNet. ìGiven the number of executives looking to make the most of recent job growth, 2006 is shaping up to be a very difficult year for companies that have taken their eye off retention.î
The top three reasons male executives are looking to making a job change include:
Limited advancement opportunities (17%);
Lack of challenge/personal growth (13%); and
Poor company prospects (13%).
The top three reasons why women are looking to change jobs were similar, but not identical to their those cited by their male counterparts, they include:
Limited advancement opportunities (21%);
Compensation (14%); and
Poor company prospects (14%)
ìIn light of the well-documented pay differences between men and women, itís not surprising to see compensation cited by a larger percentage of female executives,î says Lauryn Franzoni, Vice President of ExecuNet. ìIn the next six-to-twelve months, the companies that best meet the needs of their workforce will clearly be in a position to gain a competitive advantage over their peers.î
ExecuNet, a career management and recruiting network for top executives and recruiters, is a recognized authority in executive hiring and recruiting trends. ExecuNet helps members identify career opportunities and attain professional success by providing exclusive job postings, opportunities and tactics designed to expand personal and professional networks, and career advancement strategies.
Founded in 1988, ExecuNet also serves recruiters and corporations as a leading source of top-tier executive talent and proprietary research. For more information on ExecuNet visit:
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