- Three in Five Anticipate Making a Major Career Change Before Retirement -

Los Angeles, October 10, 2005 – More than half (51 percent) of more than 1,700 global executives surveyed would likely choose a different field could they start their career over again, according to the latest Executive Quiz from Korn/Ferry International (NYSE:KFY), a premier global provider of talent management solutions.

When posed the question, the most popular responses by executives were “highly likely” (21 percent) and “likely” (30 percent). Other responses included “maybe” (24 percent), “unlikely” (17 percent) and “highly unlikely” (8 percent). Further, when asked if they anticipate making a major career change before retirement, more than three in five respondents (62 percent) consider this “highly likely,” with another 26 percent indicating it is “likely.” 

Despite these findings, two-thirds of respondents (67 percent) reportedly feel they have “absolutely” or “somewhat” reached the level of success they would have anticipated when they began their professional careers. Additionally, more than half (62 percent) would “definitely” recommend their profession to somebody embarking on his or her career.

“It is certainly encouraging that so many executives feel they have reached their career goals and would recommend their professions to others,” said Gary C. Hourihan, president of Global Leadership Development for Korn/Ferry International, “but at the same time, these findings do reinforce certain assumptions about today’s executives, specifically, decreased tenure, less employer loyalty and more mobility than previous generations.”

“Leading organizations can best address this shift and retain key talent by better understanding the career motives of their executives and creating professional development plans for emerging executives that support these motives. For example, we are finding that more and more executives are motivated by the opportunity to expand their knowledge base. Hence, programs that involve the executive in different facets of the organization or promote further education can be powerful retention tools.”

The survey also examined the professions today’s executives aspired to as children. The profession most commonly cited by respondents was business executive (18 percent), although athlete (15 percent), astronaut (11 percent) and doctor/nurse (10 percent) were also popular responses. Additionally, executives were asked to select how closely their career is related to the area of their college/university degree. Nearly half (46 percent) of respondents answered “very closely related,” with 39 percent answering “somewhat related” and 15 percent answering “not at all related.” Finally, an overwhelming number of respondents (84 percent) reported that “street smarts” is more important in business than an advanced degree.

Methodology
The Korn/Ferry International Executive Quiz is based on a global survey of executives registered within the firm’s online Executive Center, ekornferry.com. Respondents from 96 countries, representing a wide spectrum of industries and functional areas, participated in the most recent Executive Quiz between July and September 2005.

About Korn/Ferry International
Korn/Ferry International, with more than 70 offices in 35 countries, is the premier provider of executive search, outsourced recruiting and leadership development solutions. Based in Los Angeles, the firm partners with clients worldwide to deliver unparalleled senior-level search, management assessment, coaching and development, and recruitment outsourcing services through its Futurestep subsidiary. For more information, visit the Korn/Ferry International Web site at www.kornferry.com or the Futurestep Web site at www.futurestep.com.

Media Contacts                                                                                                                           
Asia/Pacific
Marta Grutka, + 65 6231 6215
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Europe and the Americas
Stephanie Cohen, + 1 310 226 2645
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Middle East
Mare Elston, + 971 50 652 1236
m.elston@asdaa.com  
                                                                               
UK
Sarah Tovey, + 44 (0) 20 7404 5959
kornferry@brunswickgroup.com