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New Year's Resolutions Include Finding a New Job
ST. LOUIS (SLFP.com), January 4, 2009 - Even with slower hiring predicted for 2009, 19 percent of workers say finding a new job is on their list of New Year's resolutions and the same amount say they actually plan to leave their current job before the end of the year, according to CareerBuilder.com's latest survey.
The survey, titled "2009 Job Forecast," was conducted from November 12 through December 1, 2008, and included more than 8,800 workers. Additionally, six-in-ten workers say the economy and the tightening job market are not making them hold off on their plans to change jobs.
Workers cited a variety of reasons for wanting to leave their jobs in the new year, with the most workers, 49 percent, reporting that better pay and/or career advancement opportunities are the primary reasons they plan to leave their current positions. Fourteen percent are looking for an environment where they feel more appreciated and 10 percent want to work for a company that is making a difference. Seven percent of workers are electing to change careers entirely, while 3 percent say they are leaving their jobs because they want more flexibility or plan to go back to school.
Looking at key factors that influence job satisfaction and company loyalty, workers reported the following:
Pay - A quarter of workers are dissatisfied or very dissatisfied with their pay. Thirty-five percent of workers did not receive a raise in 2008. Of those that did receive one, 25 percent were given an increase of 2 percent or less. Sixty-three percent of workers did not receive a bonus.
Career Advancement - Twenty-six percent of workers are dissatisfied or very dissatisfied with the career advancement opportunities provided by their current employers. Eighty percent did not ask for or receive a promotion in 2008 and 20 percent felt they were overlooked.
Work/Life Balance - Eighteen percent of workers are dissatisfied with work/life balance and 54 percent report their workloads have increased over the last six months.
Training/Learning - Twenty-three percent of workers are dissatisfied or very dissatisfied with training and learning opportunities provided by their current employers.
When applying for new positions, workers say the most important attributes they look for in employers are:
-- Company's stability and longevity in the market (32 percent)
-- Good career advancement opportunities (20 percent)
-- Good work culture (14 percent)
-- Ability to offer flexible schedules (12 percent)
"January is typically one of the busiest job search months of the year and this year should be no exception with increased unemployment combined with workers who are putting their New Year's resolutions into action," said Rosemary Haefner, Vice President of Human Resources at CareerBuilder.com.
"Although seven-in-ten workers say they are satisfied with their jobs, some are always on the lookout for a greener pastures. In fact, 82 percent of workers said while they are not actively looking for a new position, they would be open to one if they came across the right opportunity."
Planning Ahead May Be Just As Risky As Rewarding
ST. LOUIS, (PRNewswire), January 11, 2009 - In the wake of big investment losses many have turned to Plan B to strategize and rebuild their retirement nest egg, according to Consumer Reports latest retirement survey. There is a lot of ground to recover: 51 percent of retired readers and 55 percent of those just short of retirement are facing investment losses of at least 20 percent in the past 12 months.
The Consumer Reports National Research Center surveyed more than 19,000 Consumer Reports online subscribers between the ages of 55-75 and found about half have already made strides to generate more cash, including eating out less and cutting back on entertainment. About one-third have cut their credit card use and spent less on groceries and household goods.
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"When bad investments happen to good people, they have to work harder to slash debt, cut spending and save more. Switching to Plan B means seizing the reins in every areas of your financial life over which you have control," said Noreen Perrotta, Consumer Reports Money editor.
The Consumer Reports Retirement Survey also found that consumers who planned ahead were more satisfied with their retirement prospects, even in the current economic climate. Among pre-retirees 90 percent planned ahead by reading books or articles, consulting professionals, using online software, taking courses or conversing with family and friends. The more planning methods used, the more satisfied the respondents were.
However, pre-retirees who had done more planning reported worse losses, on average, than those who hadn't planned. Retirement planning strategies encourage investors to diversify beyond safe vehicles such as bonds and CDs. Respondents who had planned were less conservative, in general than those who didn't. Before the meltdown, this strategy was much more beneficial according to Consumer Reports' 2007 Retirement Survey. But it proved punishing during the unusually severe market downturn of recent months.
The 2008 report also found that using financial pros gave planners no edge. Unlike last year's survey, those who reported using financial planners this year said they were no more satisfied than those who educated themselves. Both groups said they lost money at about the same rate. Respondents who had financial planners had a net worth that was about $230,000 greater than those who didn't. But CR doesn't know if they were wealthier to begin with.
Forty-three percent of respondents that did four or more planning activities said they would now delay retirement a year, compared with 28 percent of those who had done nothing. Greater losses might have forced the decision.
Archived Stories:
 Missouri Department of Labor Hires More Workers to Assist the Unemployed
Slower, More Cautious Hiring Expected in New Year
Labor Grant to Assist Missouri Workers
Young Jobseekers Say Job Security More Important During Tough Economic Times
Employers and Employees Prepare for Revisions to Americans with Disabilities Act
America's Career Coach Tells How to Find a Job in Today's Market
2009 Career Guide Released Online to Help with Job Success During Recession
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