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Professional Growth Trumps Compensation as Top Change Motivator for Payments Professionals
Executive search firm surveys professionals for top reason they would consider a new role.
Forty-seven percent of respondents indicated that the opportunity for professional growth is the top reason for considering a new role, surpassing any other option by more than half. Tied at 20% is the desire for a better work life balance and an increase in pay. Ten percent stated that not being on the same page with their boss and/or peers is the top reason for making a change, and 3% would make a move based on the success or size of the hiring company.
Larry Lebofsky, Vice President of TopGrading Solutions, sees the priorities of his candidates beginning to shift. “For the past two years job stability has been the top concern for candidates. During the recession, people were just happy they had a job. They survived layoffs and pay cuts but still weren’t going to take a chance on a new employer, scared they would be last-in, first-out,“ stated Lebofsky. “Now that the economy is rebounding, people are building the confidence to move their career to that next level. Employees want to learn, want to enhance their skills and want access to training and development programs. If they can't find those growth opportunities within their current company, they'll seek it elsewhere. Any employer not providing these opportunities has not learned the lessons of past post-recession cycles.”
In the second quarter of 2010, more people quit their jobs than were laid off, the first time this has happened since 2008. It is estimated that the cost of replacing one employee ranges from 29% to 46% of that person’s salary. “Sourcing and training new employees will cost you time and money, so it’s smart to keep your top players, for example, to learn their goals and offer courses that will help them reach those milestones.”
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About TopGrading Solutions:
TopGrading Solutions, Inc. is an MRINetwork® affiliate with offices in Florida and Massachusetts. MRINetwork has more than 600 offices in over 35 countries. TopGrading Solutions builds business by helping our clients locate and place Impact Players – that top 10% of the workforce that accounts for 90% of business impact. Its industry specialties include Payments, Prepaid, Wireless, Retail Store Systems, and Supply Chain Planning. Visit TopGrading Solutions at www.topgradingsolutions.com.