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www.execunet.com — July 7, 2009 — Despite the economic downturn, or perhaps in part because of it, a recent survey conducted by ExecuNet, a private network of business leaders, reveals job satisfaction among employed executives earning more than $150,000 annually increased for the third consecutive year. However, not all professionals are equally happy at work during these challenging times.
According to the survey of 3,187 employed executives with an average annual survey of $206,000, 70% are satisfied or very satisfied with their current job — up from 61% in 2008 and 47% in 2006. In spite of these gains, professional fulfillment continues to vary by function with Sales, Engineering and MIS/IT executives among the most likely to be unhappy at work.
Profession
Percentage of Executives Satisfied With Current Job
Marketing
76%
HR
75%
Consulting
75%
Finance
73%
Business Development
71%
General Management
67%
MIS/IT
64%
Engineering
60%
Sales
59%
"In light of the current downturn, the number of executives who believe the grass is greener somewhere else has fallen significantly during the past year," says Mark Anderson, President and Chief Economist at ExecuNet. "Leading up to the recession, we saw companies put a greater emphasis on the retention of key talent, which also helps to explain the steady increase in overall satisfaction during the past three years."
Among the executives who are dissatisfied with their current job, most point toward limited advancement, compensation, and a lack of challenge as problem spots.
Top Reasons Executives Are Unhappy At Work
1.
Limited advancement opportunities
(11.2%)
2.
Compensation
(11%)
3.
Lack of challenge/personal growth
(9.5%)
4.
Job Security
(7.1%)
T4.
Unfavorable Company Prospects
(7.1%)
"Often, the reasons an executive becomes dissatisfied at work are well within the control of the company," says Lauryn Franzoni, Executive Director at ExecuNet. "When companies deemphasize attention to details in role, responsibilities and development assignments to focus on operational issues, they are guaranteeing turnover will increase as the economy improves."
Founded in 1988, ExecuNet is a private network for business leaders who believe that the right connections can produce extraordinary results in their careers and organizations. A recognized authority in executive recruiting and human capital, ExecuNet provides members access to confidential six-figure job opportunities, proprietary research, and pragmatic advice. For more information, visit www.execunet.com.
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