Executive Exodus in a New Economy

Companies should prioritize executive retention before key business leaders depart, reports a new study conducted by ExecuNet, a private business network, and Finnegan Mackenzie, The Retention Firm.

The 2009 Executive Retention Report finds that while job satisfaction varies by level of management, with CEOs (63%) and other C-level officers (52%) more likely to be “satisfied” or “very satisfied” with their current positions than vice presidents (41%) and directors (44%), more than 90% of all executives would listen to an executive recruiter about new opportunities with another company. Also, more than 50% of those surveyed are actively looking for a new job now, and 40% plan on heightening their job search as the economy improves.

Furthermore, the cost of losing a top executive inhibits a company’s ability to capitalize on new opportunities, as well as increases the risk of losing other business leaders. The study also reveals that professionals at all levels of management are misjudging the percentage of direct reports interested in pursuing new opportunities.

Posted by RecruitingTrends.com on November 30, 2009. Filed under Data Watch, Human Resources, Recruiting, Retention, Sourcing. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry