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Job Satisfaction Improves, But Turnover Poised To Rise
www.execunet.com — August 7, 2006 — With surging job growth fueling increased voluntary turnover during the first half of 2006, a recent survey conducted by ExecuNet, the executive job search and recruiting network, finds that while the number of disgruntled executives is shrinking, corporations can expect to continue to struggle with retention.
According to the survey of 163 employed executives, 53% are not satisfied with their job – down from 67% in December 2005, and of those who are currently unhappy at work, 75% are planning to leave their company within the next six months.
"Job satisfaction often improves during periods of economic expansion," says Dave Opton, CEO and Founder of ExecuNet. "However, the high percentage of unhappy executives that are actively looking for greener pastures presents a serious problem for companies in all industries."
The most common reasons why employed executives are not happy with their current jobs include:
Limited opportunity for advancement (18%);
Lack of challenge or personal growth (16%);
Unfavorable company prospects (12%);
Compensation (11%); and
Poor corporate culture (10%).
"It has become increasingly evident that bigger paychecks are not a panacea for voluntary turnover," says Opton. "In an age when the average executive tenure is less than four years, corporations that fail to provide room for the development and growth of their best talent will be constantly battling turnover."
ExecuNet, the leading executive-level career building, business and recruiting network, provides exclusive access to confidential six figure job listings, expert advice, and high-level business connections for professionals while helping corporate and search firm recruiters find qualified executive candidates. Founded in 1988, ExecuNet helped transform the executive recruiting industry by launching the first website designed to bring senior-level professionals and search firms together in a cooperative and confidential environment.
Based in Norwalk, Connecticut, ExecuNet is a recognized authority in executive recruiting trends and proprietary employment market research. For more information, visit www.execunet.com.
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