Money or Opportunity: What Makes Executives Stay?
So you're considering giving a whopping pay increase to entice one of your executives to stay? Think again. According to a survey by Korn Ferry, the reason executives leave companies often has nothing to do with the money.
According to the survey cited in Workforce Management, "...only 5 percent of global executives say that inadequate or inconsistent compensation is the main reason they left their last job. Rather, they cite lack of challenges or opportunity for career growth (33 percent) as the top reason they left. Twenty percent of respondents pointed to ineffective leadership, while 17 percent said the attractive job market was why they left their last jobs."
The answer: give people more career development, work/life balance and empower them to make decisions.
