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Lack of a challenge is top reason professionals seek new jobs, survey finds

January 24, 2017

The top reason professionals would hunt for a new job is to seek a more challenging position, while the quest for greater compensation comes in almost dead last as a reason to leave, according to a survey released today by executive search firm Korn Ferry International Inc. (NYSE: KFY).

Nearly three-quarters professionals surveyed, 73%, said that if they plan on being in the job market this year, it’s because they’re looking for a challenge. Trailing far behind, 9%, said they are looking because they either don’t like their company or their efforts aren’t being recognized, 5% said their compensation is too low, and 4% said they don’t like their boss.

“These results mirror study after study Korn Ferry has done that show money is not the key motivator for employees,” said Korn Ferry Senior Partner Kevin Cashman. “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 continually learning new skills.”

The survey also found most professionals think 2017 is going to be a good year for extra compensation, as 75% of respondents reported they expect to get a bonus this year and 55% think it will be bigger than in 2016.

“While the survey shows compensation is not on the top of the list for personal drivers in the workplace, it is still critical to retention,” Cashman said. “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.”

The Korn Ferry survey was conducted in early January 2017 and garnered 1,958 responses.