Around 73 per cent of the respondents of a survey in January said they would look for a new job for the sake of challenging roles.
According to a survey done by Korn Ferry last month among 2000 professionals, 73 per cent of the respondents said they would look for a new job in their quest for challenging roles. Another nine per cent said that they did not like their present organisations as their efforts were not recognised.
Only five per cent and four per cent of respondents gave normally popular reasons, such as low compensation or dislike for boss, respectively.
Kevin Cashman, senior partner, Korn Ferry, says, “These results are mirrored in study after study by Korn Ferry, that show money is not the key motivator for employees.”
“Professionals who have progressed in their careers have done so for a reason. They’re passionate about what they do and need to feel that they are being pushed professionally and are continually learning new skills,” Cashman adds.
In another survey by Korn Ferry in October 2016, 63 per cent of professionals admitted they would prefer a promotion with no raise over a raise with no promotion.
82 per cent of respondents plan to participate independently in professional development or career advancement programmes, this year and 67 per cent say they plan to participate in employer-sponsored professional development programmes.
However, it will be totally incorrect to discount the impact of compensation. Around 75 per cent of respondents expect to get a bonus this year, while 55 percent expect the bonus amount to be bigger than in 2016.
Cashman opines, “While the survey shows compensation is not on the top of the list of personal drivers in the workplace, it is still critical to retention”.
“Bonuses are a tangible way to reward professionals for a job well done, and should be considered in addition to promotions, development and a challenging work environment.”