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Not receiving an expected bonus or raise in 2006 was the top reason
75 percent of 5,331 employed U.S. adults would look for a new job
in 2007, according to a Yahoo! HotJobs survey.
However, while money is a factor, it’s
not the number one way workers measure job success. Ninety percent
said they need a strong work/life balance and a sense of fulfillment
to feel successful, according to the Yahoo! survey conducted
the last two weeks of October 2006.
While two-thirds of the Yahoo! respondents
said they might not actively seek a new job this year—mostly because of procrastination—they
would be open to a new job if the right one came along.
Aside from feeling empty-handed at raise and bonus time, reasons
for changing jobs included:
• More than half said they work on their
days off at least one per month.
• More than one-third said they perform
some aspect of work every day, including weekends.
• 27 percent think they can score better
salaries elsewhere.
• 19 percent don’t see any potential
for career growth in their current job.
• 19 percent want a better benefits package.
More than one-third would “absolutely not” or “possibly
not” recommend their employer to others.
Among those not looking to change jobs in 2007,
the chief reason was because they had a good benefits package,
followed by the availability of a flexible work schedule and—in a time of high gas prices—a
convenient commute.
“Employers need to take the time to evaluate their working
environment to address employee engagement and retention,” said
Libby Sartain,Yahoo!’s senior vice president of HR and chief
people Yahoo, in a press release.
“Employees are looking for meaningful
work, and they want to advance their careers; however, they want
to enjoy a balanced life at the same time.”
And although more than two-thirds (68 percent) of 6,169 workers
surveyed for CareerBuilder.com said they are satisfied with their
jobs, 20 percent of workers plan to change jobs this year and 48
percent will be seeking better pay and advancement opportunities.
“January is one of the busiest job search months of the
year as workers put their New Year's resolutions into action,” said
Rosemary Haefner, CareerBuilder.com’s vice president of HR,
in a press release.
Its online survey, conducted between Nov.17 and Dec. 11, 2006,
also included responses from 2,627 hiring managers. The margin
of error was 1 percent for worker responses and 2 percent for hiring
manager responses.
Among its findings:
• 33 percent of workers are dissatisfied
with their pay.
• 35 percent are dissatisfied with the
advancement opportunities their current employer provides.
• 45 percent said their workloads have
increased over the past six months.
• 33 percent are dissatisfied with training
and job learning opportunities their current employer provides.
• 85 percent did not receive a promotion
in 2006; 26 percent felt they were overlooked.
• 27 percent are dissatisfied with their
work/life balance.
Workers cited work culture (20 percent), working for a stable
company with market longevity (23 percent), advancement opportunities
(23 percent) and the ability to have a flexible schedule (11 percent)
as important factors they will be looking at when considering other
employers.
2007 could shape up as a job seeker’s market—at least
in some fields—according to CareerBuilder.com’s 2007
Job Forecast.
It found that 40 percent of U.S. employers plan to add full-time,
permanent employees in 2007. Eight percent expect to decrease headcount;
40 percent expect no change; 12 percent are unsure.
As reported in other surveys, areas likely to be recruiting include
health care (24 percent), administrative/clerical (19 percent),
sales (17 percent), accounting/financial operations (17 percent),
customer service (13 percent), information technology (13 percent),
management (12 percent) and engineering (9 percent), according
to CareerBuilder.com.
Forty-two percent of Canadian employers plan to add full-time,
permanent employees in 2007; 4 percent plan to cut jobs. The Canadian
survey findings are based on responses from 225 hiring managers.
U.S. and Canadian employers will become more competitive in recruitment
and retention by offering higher salaries, better training and
opportunities for career advancement, and more flexible work cultures,
CareerBuilder.com predicts.
1. Fatter paychecks: 81 percent of employers said they will increase
salaries for existing employees; 65 percent will raise pay levels
by 3 percent or more; 17 percent will raise their pay levels by
5 percent or more; 49 percent will increase initial salary offers.
2. Diversity targeted: 9 percent plan to recruit African-Americans;
8 percent will target women; one in 10 will target Hispanic workers.
3. More flexible schedules: 19 percent are very or extremely willing
to provide such work arrangements as job sharing and alternate
schedules; 31 percent are fairly willing to do so.
4. Retirees desirable: One in five employers plan to rehire retirees
from other companies or provide incentives to keep employees approaching
retirement age from leaving.
5. More promotions: 35 percent plan to provide more promotions
and advancement opportunities to staff.
6. Overseas hiring: 13 percent will expand operations and hire
employees in other countries. Nine percent are considering it;
23 percent will hire the most workers overseas in China and 22
percent will hire the most in India.
“Job seekers may have more negotiating power as employers
offer sweeter deals to fill productivity gaps and headcount quotas
impacted by the baby boomers' exit from the workforce,” Haefner
said.
“Bigger paychecks and promises of career
advancement and flexible schedules are expected to be offered
on a wider scale this year.”
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