The research explored career satisfaction, aspirations and factors for career advancement, examined how professionals are creating new opportunities to achieve job satisfaction and sought better understanding of what companies need to do to attract, develop and retain high-performing employees.

The study was conducted in November 2010 and surveyed 3,400 business executives from medium to large organizations across 29 countries, including 100 from India. There was an equal representation of men and women across various generations i.e. Baby Boomers (born before 1964); Generation X (Born between 1965-1978); Generation Y (born after 1979).

The research showed that fewer than half of female business professionals - and a similar percentage of their male counterparts (43 per cent of women, 42 per cent of men) - are satisfied with their current jobs. According to those surveyed in India, 38 per cent are satisfied and not looking for new job opportunities and a close 37 per cent are looking for job opportunities outside the company. Germany ranked highest with 64 per cent satisfied with their current job. Also countries like China (40 per cent); Brazil (41 per cent); US (47 per cent) and UK (38 per cent) of those surveyed were satisfied with their current jobs and not looking out for new opportunities.

Survey respondents attributed their lack of satisfaction to a variety of issues, ranging from being underpaid and a lack of opportunity for growth to a lack of opportunity for career advancement and feeling trapped. They were variety of reasons for being not satisfied with current job situation. In India, 50 per cent stated the reason that there was no opportunity for growth within their position while another 39 per cent stated they feel like they are being underpaid. Interestingly Japan scored the highest (70 per cent), for feeling underpaid. China (55 per cent) ; US (46 per cent) and UK (44 per cent) also scored high in feeling underpaid for their work. Also, India (50 per cent) and China (47 per cent) rank high in no opportunity for growth in their position.

While talking about most important factors in their career, in India and China, 32 per cent of the respondents stated ‘Moving up/climbing up the corporate ladder’ was the most important factor in their career . 29 per cent in India and 32 per cent in China said, ‘Interesting work’ was an important factor.

However respondents in the more developed countries like US (30 per cent) and UK (34 per cent) stated work-life balance as an important factor for their careers.

Barriers to career advancement: 43 per cent of the respondents from India and China stated lack of management support as a reason for encountering barriers in their career advancement and a close 41 per cent in India and China stated ‘Additional training /education as a need for advancement. In countries like US (27 per cent) and UK (32 per cent), respondents felt an unclear or no career path were barriers to their careers.

When it comes to pay raise, in India, 57 per cent have stated ‘Yes’ they have negotiated for a pay raise. In Japan, the highest number of respondents (77 per cent) said they have never asked or negotiated for a pay raise. In India, 42 per cent stated they received a raise and it was as expected whereas 28 per cent stated that they received a raise and it was less than expected. In China 38 per cent of the respondents said they had received a raise on expected levels.

In India, 27 per cent said they received a new role when asked for a promotion and it was expected when they asked for a promotion and 24 per cent stated they did not receive a new role but received additional responsibilities. However in China (38 per cent) said that they received a new role, but it was not the role expected.

Motivations for career advancement: In India, 66 per cent stated that new, challenging assignments would be a key factor in pursuing advancement and 58 per cent stated better compensation. However, countries like Brazil (85 per cent); China (71 per cent); US ( 67 per cent) and UK (53 per cent) ranked ‘Better compensation’ as their key factor in pursuing advancement.

(Source: Accenture study: Looking Through a New Lens)