More Than a Third of Executives Would Consider Taking an Overseas Assignment, Korn/Ferry Survey Finds
- Switching Industries and Opening a Business Are Also Popular Career Changes -
Los Angeles, February 22, 2005 – More than a third of 2,700 global executives surveyed would consider taking an overseas assignment, according to the latest Executive Quiz from Korn/Ferry International (NYSE:KFY), a premier global provider of talent management solutions.
When asked to identify one major career change they would consider making, 37 percent of executives selected “take an overseas assignment.” Other responses included “change industries” (33 percent), “open a business” (19 percent), “take a year off” (five percent) and “work part time” (two percent). Just four percent indicated they “would not consider any of these.”
“As the economy continues to improve, we find that executives are increasingly willing to take some career risk and tackle new challenges,” said Bob Damon, President, North America for Korn/Ferry. “Our firm is seeing improved demand for talent across nearly all regions – particularly emerging nations such as India and China – so it follows suit that executives would be more eager to consider overseas assignments.”
The survey also explored what respondents consider to be the minimum acceptable amount of time to stay at a single company. Nearly half (47 percent) of executives said “two years,” while 42 percent said “five years.” A limited number of executives selected “less than one year” (two percent) or “more than seven years” (four percent). When asked for how many companies they have worked during their professional careers, the majority (56 percent) of respondents answered “four to seven.” The second-largest percentage of respondents (31 percent) said “two to three.”
“In business today, it is a fact that the average amount of time an employee spends at any one company is decreasing,” said Damon. “While many employees do think of their jobs as stepping stones rather than career-long commitments, it is encouraging to see that such a large percentage of executive-level employees have worked for a relatively small number of companies. To me, that suggests some degree of correlation between employee tenure and success at the executive level.”
Separately, executives were asked whether they would ever consider returning to work for a former employer. Nearly three-fourths (74 percent) of respondents said they would or likely would; only four percent indicated they absolutely would not.
Findings from the Korn/Ferry International Executive Quiz:
In your opinion, what is the minimum acceptable amount of time for a senior executive to stay at one company? (Number of respondents: 2,189)
Less than one year - 2%
Two years - 47%
Five years - 42%
Seven years - 4%
More than seven years - 4%
Which of the following major career changes would you consider? Pick only one. (Number of respondents: 2,704)
Take a year off - 5%
Work part-time - 2%
Take an overseas assignment - 37%
Change industries - 33%
Open a business - 19%
I would not consider any of these - 4%
How many different companies have you worked for in your professional career?(Number of respondents: 2,091)
One - 5%
Two to three - 31%
Four to seven - 56%
Eight to ten - 6%
More than ten - 2%
Would you ever consider returning to work for a former employer? (Number of respondents: 4,029)
Yes - 64%
Likely - 10%
Not sure - 10%
Unlikely - 12%
No - 4%
Methodology
The Korn/Ferry International Executive Quiz is based on a global survey of executives registered with the firm’s online Executive Center, www.ekornferry.com. Respondents from nearly 100 countries, representing a wide spectrum of industries and functional areas, participated in the most recent Executive Quiz between October 2004 and January 2005.
About Korn/Ferry International
Korn/Ferry International, with 70 offices in 35 countries, is the premier provider of executive search 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 middle management recruitment 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.
