From Computerworld Philippines
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More than half of female business professionals around the world – and a similar percentage of their male counterparts – report that they are dissatisfied with their jobs. At the same time, however, a significant number plan to stay with their companies and create new opportunities, according to new research from Accenture.
The research, which surveyed more than 3,400 professionals in 29 countries, compared responses of equal numbers of women and men and found that fewer than half (43% of women and 42% of men) of all respondents are satisfied with their current jobs, but nearly three-quarters (70% of women and 69% of men) plan to stay with their companies.
However, Philippine respondents differed significantly from their global counterparts. Most of them (80%) are dissatisfied with their jobs and are willing to seek better opportunities elsewhere,(56% of women and 72% of men).
The study, which was conducted as part of Accenture’s 2011 celebration of International Women’s Day, found that overall, the top reasons for respondents’ dissatisfaction are: being underpaid (cited by 47% of women versus 44% of men); a lack of opportunity for growth (36% versus 32%); no opportunity for career advancement (33% versus 34%); and feeling trapped (29% versus 32%). Despite this, more than half of respondents (59% of women and 57% of men), say that, this year, in an effort to enhance their careers, they will work on developing their knowledge and/or a skill set to achieve their career objectives.
Philippine-specific findings indicated that the Filipino workforce is looking for better compensation, benefits and work-life balance. Philippine employers would do well, therefore, to focus on efforts addressing these three key employee retention and engagement drivers.
“Employers need to work with its employees to find opportunities for them to grow both on a professional and personal level. That is why Accenture, in addition to the numerous training programs made available, encourages our more than 21,000 employees in the Philippines to participate and play active roles in various internal special interest clubs and activities,” country managing director Manolito Tayag said.
Despite a low job satisfaction, 65% of the Philippine workforce surveyed want to increase their knowledge and develop their skill sets. More than half of the respondents also consider career planning a major priority this year. In fact, 60% of respondents are still not satisfied with their current career levels and 15% target to hold C-level positions in the future.
According to Adrian Lajtha, chief leadership officer at Accenture, “Today’s professionals are not job hunting, despite expressing dissatisfaction. Instead, they are focused on their skill sets and on seeking the training, the resources and the people that can help them achieve their goals. Leading companies should support these efforts by listening to employees and providing them with innovative training, leadership development and clearly-defined career paths.”
The global survey found that responses to some questions were similar among women and men. For example:
– Women overall were somewhat less likely than men to say they have asked for pay raises (44% versus 48%) and promotions (28% versus 39%).
– Fewer than one-third of respondents from both groups (32% of women and 31% of men) report that they have a formal or informal mentor.
– While more than half of respondents (55% of women and 57% of men) are satisfied with the career levels they’ve reached, more women report that their careers are not fast tracked (63% of women versus 55% of men). At the same time, fewer women say they aim to reach C-level or equivalent positions (14% of women versus 22% of men).
– When asked about factors that help women advance in their organizations, more than two-thirds of women (68%) but only about half of men (55%) cited hard work and long hours
– Among top factors that would make respondents want to pursue career advancement, women and men cited better compensation (65% versus 67%); new, challenging assignments (44% versus 48%); flexible work arrangements (39% versus 34%); and leadership positions within their companies (22% versus 28%)
“Executives should view the insights emerging from this research as an opportunity to engage their employees and help them become more successful,” commented Nellie Borrero, Inclusion & Diversity lead at Accenture. “As those employees look to reinvent opportunity, companies can help them by creating a culture of mentoring, developing diverse teams that provide new experiences and offering volunteer opportunities that engage their people and expand employee networks.”
The research also identified differences among generations, particularly in terms of mentors. Just one-quarter (25%) of Baby Boomer respondents (those born before 1964) worked with a mentor, compared with 32% of Generation X respondents (those born between 1965 and 1978) and 37% of Generation Y respondents (those born after 1979). Of these respondents, having a mentor help plan career moves was most popular among Generation X, compared to Baby Boomers or Generation Y (reported by 51%, 40% and 43%, respectively).
Additionally, while all groups cited higher pay as the top reason for pursuing career advancement, the youngest participants – Generation Y – were significantly more motivated by pay than Generation X respondents or Baby Boomers (cited by 73%, 67% and 58%, respectively).