Has a decline in loyalty to one’s company, common today among lower-level employees, now spread to the upper ranks as well?
When Wharton management professor Peter Cappelli and Monika Hamori of IE Business School analyzed job search data from a leading executive search firm, they found that more than half of the high-level executives contacted by the firm — 52% — agreed to be candidates for positions outside their company.
The number of executives who responded to the search firm’s initial call was “higher than I expected,” says Cappelli, director of Wharton’s Center for Human Resources. “I thought that most executives would be more committed to their organizations, that they wouldn’t be interested in moving. People have family ties and work projects they have invested time and energy in, and yet more than half of those contacted basically said, ‘Yes, I’m interested.’”