Posted by fmba
on Jun 3, 2003 in MBA Job Search
| 0 comments
MBACareers.com Asks, "What do companies need to do to retain MBA's?"
According to a poll released today by MBACareers.com, over two-thirds of MBA qualified employees are not satisfied with their current jobs and are seeking new positions. The results of the poll reveal that MBAs' criteria for job satisfaction are challenging work, competitive compensation, and respect from their employers.
"Companies spend thousands of dollars recruiting MBAs, yet employers may risk losing these valuable employees by not offering challenging work and advancement opportunities," said JillXan Donnelly of MBACareers.com. "Losing employees - especially top notch MBAs - almost always results in significant costs to the corporation. Companies can't afford to lose these talented resources."
MBACareers.com viewers were asked why their current position is "uninspiring." The results are:
|Lack of advancement opportunities||64%|
|Lack of "fit"||62%|
|Not intellectually challenging||39%|
|Weakness of direction on behalf of Senior management||18%|
What do companies need to do to engage their MBA's? According to MBACareers.com, companies need to focus on finding challenging and fulfilling employment opportunities for these fast-track employees.
- MBAs are almost always over-achievers. They have been challenged academically, they have excelled and they expect the same in their professional environments. Give your MBAs responsibility for impacting the bottom line, challenge them to stretch their boundaries and reward their progress.
- Meet with your MBAs on a regular basis to ascertain their career expectations and learn if their needs are being met.
- Broad management experience is a must for fast-track candidates. Make sure that your corporation offers a variety of experiences, advancement opportunities and responsibilities.
- Job satisfaction is a key factor in employee retention. These MBAs are your future business leaders. Allow them to prove their worth to your corporation. If you don't your competition will.