If your company is in the market for a new executive, you'll probably want to recruit not just among candidates who are actively looking for jobs, but also among so-called passive candidates, who are currently employed but might be convinced to make the switch. In order to understand why these candidates would want to change things up and join your organization, it's important to have a sense of why people change jobs in general.
A new global study from LinkedIn, one of the largest that has ever been conducted, recently aimed to answer this question. The company analyzed the job changes of 7 million people who use its website, not counting internal promotions or transfers. It then conducted a survey of 10,536 people, asking them what motivates them to change jobs.
The number one reason that people changed jobs was in order to advance their careers. 45 percent of respondents said they left their employers because they didn't see opportunities for advancement, while 59 percent said they chose their new employer based on their ability to advance their career while working there. Pay was the second-most common cause of a job switch, with 54 percent accepting a new job due to a pay increase.
So what does this mean for recruiting a new executive? Your company must give candidates the impression that they will be able to do meaningful work and move forward in their careers, even if they're already at the top level in their current organization. Offering substantial compensation packages can't hurt either.
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