High-flier schemes do not guarantee loyalty, says study

Citation

(2003), "High-flier schemes do not guarantee loyalty, says study", Career Development International, Vol. 8 No. 1. https://doi.org/10.1108/cdi.2003.13708aab.007

High-flier schemes do not guarantee loyalty, says study

High-flier schemes do not guarantee loyalty, says study

Managerial high fliers making career decisions look for flexible working arrangements, individually tailored development and varied career opportunities, including postings abroad. They also want to work for organizations whose culture and values they identify with.

However, these individuals are so motivated by new challenges and change that even employers satisfying these criteria may not hold on to their talents in the longer term, according to a study by occupational psychologists Pearn Kandola.

The survey looked at the needs, motivations and career aspirations of MBA students in business schools across Europe, in terms of their requirements now and in five years' time.

Around half of respondents wanted flexible working arrangements such as flexible hours, home working and, as their career progressed, the option to take a sabbatical. In addition to the standard benefits of a company car and pension, 90 per cent indicated that they would value medical insurance and 60 per cent could be attracted by gym membership and, in future, concierge services and an entertainment allowance.

However, the sample was no more driven by financial and material rewards than the general population. People sampled were motivated by producing high-quality work, achieving positions of influence and power, and receiving recognition from others.

New challenges and change were also key factors. The overwhelming majority (93 per cent) wanted to work abroad for between two and five years early in their careers, and many also appreciated the opportunity to experience different roles and various learning opportunities. However, meeting these needs did not guarantee their long-term loyalty, as two-thirds of those surveyed envisaged moving to another employer within two to five years.

Binna Kandola, of Pearn Kandola, said: "Given the overall cost of recruiting and developing top talent, organizations will clearly be concerned about maximizing the return on their investment. Employers who take these issues into account in their general marketing, recruitment campaigns and development programmes will have an edge in attracting high fliers and may prolong the time they stay. But they should also be spreading the recruitment net wider and developing other talented individuals."

Mentoring was rated the most useful development method participants had experienced, followed by job rotation and 360-degree feedback. Commonly used processes, such as career-development resources and technical training, were viewed unfavourably by a significant proportion.

Participants in the survey were particularly attracted to the finance, consultancy and technology sectors, because of their perceived values (69 per cent), culture (38 per cent) and market position (34 per cent).