Pay scores low on reasons for leaving.

• Author: Marshall, Jeffrey
• Position: Careers

Is it pay? No way! Only 5 percent of global executives surveyed cite inadequate or inconsistent compensation as the primary reason for leaving their last job, according to a recent Executive Quiz from search firm Korn/Ferry International. Topping the list of responses was lack of challenges or career growth (33 percent), followed by ineffective leadership (20 percent) and attractive job market alternatives (17 percent).

Further, when asked which improvement would make the biggest difference in organizations' ability to retain talent, 42 percent of the respondents said it was empowering employees to make decisions. Other suggestions included more opportunities for advancement and career development (32 percent) and better work/life quality (16 percent). Just 6 percent of respondents cited more attractive compensation packages. Executives from more than 80 countries took part in the survey.

"Executives don't leave jobs for better money, they leave jobs for better opportunities," said Jack MacPhail, managing director, Americas, for Leadership Development Solutions at Korn/Ferry. "Formalizing talent management processes and placing more emphasis on identifying and developing top performers are essential steps in retaining talent. Effective leadership is often the difference between organizational success and failure."

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The survey also explored what executives seek...