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www.execunet.com November 26, 2007 — With many companies already struggling to recruit top talent in a competitive marketplace, a recent survey conducted by ExecuNet, the executive career and business networking organization, reveals that retention strategies designed to reduce voluntary executive turnover may be losing ground.
According to a survey of 151 executives with any average annual salary of $197,000, 76% report that they are not satisfied or somewhat dissatisfied with their current job, and among those who are unhappy at work, 75% 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 keep management teams engaged and intact, companies need to acknowledge that better opportunities motivate far more executives than bigger paychecks."
The top five reasons why executives are not satisfied with their current jobs include:
Lack of challenge/personal growth (14%)
Limited advancement opportunity (13%)
Boss not a good match (12%)
Restricted managerial responsibility (9%)
Differences in culture (9%)
Fewer than half (46%) of all executives who are preparing to search for a new opportunity report that they would consider staying with their current company if they could transition into a new role, department or business unit.
Founded in 1988, ExecuNet brings C-level executives together online and in face-to-face meetings to discuss business challenges, solutions, opportunities, and share job leads. A recognized authority in executive recruiting and human capital, ExecuNet also provides members access to confidential six-figure jobs listings, proprietary research, and pragmatic advice. For more information on ExecuNet visit www.execunet.com
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