Rise in Executive Turnover Looms
Executives may be having a hard time getting up in the morning, as the majority work at jobs they don’t like.
According to an ExecuNet survey of 151 executives with an average annual salary of $197,000, 76 percent report that they are not satisfied or somewhat dissatisfied with their current job; and among those who are unhappy at work, 75 percent are actively searching or preparing to search for a new opportunity.
“Executive job satisfaction levels are reaching historic lows,” says Dave Opton, CEO and founder of ExecuNet. “To reverse this trend and keep management teams engaged and intact, companies need to better acknowledge that opportunities and challenges motivate far more executives than bigger paychecks.”
Top 5 Reasons Why Executives are Not Satisfied with their Current Jobs
- Lack of challenge/personal growth
- Limited advancement opportunity
- Boss not a good match
- Restricted managerial responsibility
- Differences in culture
Source: ExecuNet, 2007
Nearly half (46 percent) of all executives preparing to search for a new opportunity report they would consider staying with their current company if they could transition into a new role, department or business unit.
