It Ain't Easy Being the Boss June 30, 2008 Edited by Jeremy Cohen
Facing increasing competition for leadership talent, America's top companies have been investing in new efforts to retain their executives. But according to a recent survey conducted by ExecuNet, an executive business, career and recruiting network, the results of their efforts have been decidedly mixed.
According to the survey of 1,597 employed executives—average annual salary in excess of $206,000—some 61% are happy with their current jobs. Nonetheless, professional fulfillment is shown to vary significantly by function, with only 53% of MIS/IT executives and 54% of their counterparts in sales describing themselves as satisfied. Decidedly cheerier were CFOs and comptrollers (68%), as well as executives in HR (65%), marketing (63%) and those not identifying with specific industries (61%).
"The increase in overall job satisfaction from 52% last year is particularly striking when you take into consideration the demands and challenges executives have faced over the past year," says Dave Opton, CEO and founder of ExecuNet. "Clearly, sustained job growth at the top of the employment market has many companies rethinking their approach to executive retention."
Among the 39% of corporate leaders who are dissatisfied with their current job, a lack of advancement opportunities (12.8%) and boredom (12.3%) head up the complaints. Compensation (11.7%), stress (7.7%) and job security (7.7%) round out the list.
"While stress and job security concerns are mounting, boredom and a shortage of opportunities for advancement remain key drivers of voluntary executive turnover," explains Mark Anderson, ExecuNet’s president. "Given the current outlook for the executive employment market, companies capable of keeping their leaders engaged will be well positioned for strong growth."
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