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Nearly Half Of All Executives Unhappy At Work: MIS/IT Executives Are Among The Least Satisfied, CFOs and HR Execs The Most Content
www.execunet.com — July 12, 2007 — Despite larger compensation packages and a greater emphasis on retention sweeping across Corporate America, a recent survey conducted by ExecuNet, the leading executive career, business, and recruiting network reveals executive job satisfaction levels remain dangerously low as companies struggle to keep their management teams intact.
According to a survey of 2,149 executives with an average salary of $221,000, 48 percent report they are not satisfied or somewhat unsatisfied with their current job. Among those who are unhappy at work, more than half (52 percent) are preparing to leave their company within the next 12 months.
"Given the pace at which companies are hiring executive-level talent this year, disgruntled executives won't have to look far in search of greener pastures," says Dave Opton, CEO and Founder of ExecuNet.
The survey reveals job satisfaction levels vary considerably across professions:
Profession
Percentage of Executives Satisfied With Current Job
Human Resources
67%
CFO/Comptroller
63%
General Management
47%
Marketing
44%
Sales
42%
MIS/IT
41%
"A very tight employment market has many companies focused on talent management and its role in shaping the firm's future," says Opton. "In addition to presenting new challenges, this trend has provided Human Resource executives with increased access to resources and a louder voice in the organization, which have clearly improved job satisfaction levels for these professionals. On the other end of the spectrum, many IT executives continue to find themselves struggling to gain the proverbial seat at the table."
Across all functions, the top five reasons why executives are not happy with their current jobs include:
1. Limited advancement opportunities (13%)
T1. Lack of challenge/personal growth (13%)
3. Differences with culture (10%)
T3. Boss not a good match (10%)
5. Compensation (9%)
"While executive compensation continues to grab headlines, there are a host of other issues creating retention problems across Corporate America," adds Opton.
"To be effective, initiatives designed to lower turnover at this level must take into account the drive and ambition that fuel the development of most executives."
Additional Findings
A simultaneous survey of 121 Human Resources executives reveals that 76 percent are concerned about retention and 66 percent believe their company is working harder to retain executive talent than they did one year ago – yet just 32 percent of employed executives agree.
More than one-in-three (36 percent) HR executives do not expect their company's current leadership team to be in place in one year.
Nearly three-in-four (70 percent) HR executives believe that the war for executive talent has grown more intense in the past twelve months.
ExecuNet, the leading executive career, business and recruiting network, provides exclusive access to high-level business connections for professionals, confidential six-figure job listings, expert advice and proprietary research 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, confidential environment to understand how to meet their human capital needs.
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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"Just a note to let you know that Job #115474 has been filled by one of your
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