Reply #20: Opening Job Market May Spur Large Corporate Turnover of Frustrated Workers [View All]

[54anickel]

http://www.miami.com/mld/miamiherald/business/national/8339507.htm

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Career stagnation and backsliding go hand in hand with the worst job market in decades. The US economy generated a paltry 21,000 jobs in February -- the March unemployment report comes out today -- while Massachusetts lost 9,500. For the growing numbers of employees who are unhappy, unchallenged or unsettled at work, it is difficult to escape to a new job and a fresh start that will put their careers back on track.

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But the nation's corporate offices teem with dissatisfied workers. Their feelings of frustration, recruiters say, are heightened by vivid memories of the late-1990s boom, when employment opportunities were plentiful. If hiring picks up this year, as President Bush predicts, corporate turnover is expected to rise.

"There will be an incredible number of job moves by American professionals once the economy and the job market opens up again," said Joseph Daniel McCool, editor of Executive Recruiter News, a monthly newsletter.

An unusually high number of US managerial and executive employees -- 83 percent -- said they would likely seek new employment when the job market improves, and 56 percent of employers said they expect their turnover rates to rise, according to a 2003 survey by the Society for Human Resource Management, a professional organization.

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People "are going to make the move because they've had it," said Jack Mohan, president of Management Recruiters International in Boston. Employees often are "doing the jobs of two, three, four people," said David Sanford, executive vice president of Winter, Wyman & Co., a New England recruiter. "When they say to their bosses, 'I'm underloved and underappreciated," they say, 'tough." "

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