Market Overview

Breaking Boredom: Job Seekers Jumping Ship for New Challenges in 2018, According to Korn Ferry Survey

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- Respondents Say Networking is Best First Step in Job Search -

- Nearly Half Say They Didn't Get a Job Because an Interviewer Didn't
Understand their Qualifications -

No longer content with a passionless career (which can make getting jury
duty look great), nearly 5,000 professionals surveyed by Korn
Ferry
(NYSE:KFY) say that being bored and needing a challenge would
be the top reason for seeking a new job in 2018.

When asked what their typical first step is when looking for a new job,
the largest response was networking at 44 percent. The vast majority (89
percent) said networking at every point in their career is key, not just
when they are in job search mode.

"Networking is a contact sport and really the most critical part of a
job search -- but many people don't do it well," said Gary D. Burnison,
Korn Ferry CEO and author of the upcoming book, Lose
the Resume, Land the Job.
, which will be available in mid-February.

"The truth is, networking is not about you—actually, it's the
opposite. Networking is about relationship-building, and relationships
are not one-way streets," said Burnison. "The best approach is to make
networking a natural part of ongoing interactions with people, by
focusing first on how you can help them."

In Burnison's book, he outlines common mistakes made by job seekers in
all industries and levels, from new grads to CEOs, including putting too
much focus on their resumes.

"Many job searchers spend an inordinate amount of time perfecting a
resume, but that alone won't land them the job," said Burnison. "Given
that an average of 250 resumes are received for every corporate job
opening, blindly sending out resumes is patently passive and illogical."

While 23 percent of respondents said updating their resume is their
first step to landing a new role,19 percent said their first step is
taking an inventory of what kind of job would make them the happiest.

"Long before job seekers look ‘out there' for a job, they need to begin
inward—with who they are and what they have to offer," said Burnison.
"With this clear understanding, candidates can target their search to
where they will be most satisfied and make the greatest contribution."

The survey also highlights the role of the interviewer in a job search.
More than half (53 percent) of respondents said that people who
interviewed them for a job were only "somewhat prepared," "ill-prepared"
or "very ill-prepared," and nearly half (46 percent) said they were
turned down for a job because the interviewer did not take the time to
fully understand their qualifications.

There is some good news in the survey about how authentic job candidates
are during the process. Only 7 percent said they portrayed themselves as
different than they actually were with the hope of landing a role.

"During each part of the job seeking process and throughout their
career, people need to understand how they ACT – an acronym that means
being authentic, creating a connection and
giving prospective bosses and colleagues a taste of who
they are, what they do and the contributions they can make," said
Burnison.

About the Survey

The survey of 4,900 professionals took place in December 2017.

Survey results

If you are planning on looking for a new job in 2018, what is
the top reason?

I'm bored, need new challenge           33 percent
Culture doesn't fit with me/my values 24 percent
I have either lost my job or expect that I will 21 percent
Higher salary 19 percent
Company politics 3 percent

When you consider looking for a new job, what is your typical
first step?

Professional networking

         

44 percent

Updating my resume 23 percent
Taking inventory on what kind of job would make me the happiest 19 percent
Reviewing online job postings 12 percent
Social media activity 2 percent

When interviewing for a job, on average, how well-prepared are
the interviewers?

Very well prepared           47 percent
Somewhat prepared 47 percent
Somewhat ill prepared 5 percent
Very ill prepared 1 percent

If you've not been offered a job, have you ever felt like it
was because the interviewer didn't take time to understand your
qualifications?

Yes           46 percent
No 54 percent

During a job interview, have you ever tried to portray yourself
as different from what you actually are in hopes of landing the
role?

Yes           7 percent
No 93 percent

At what periods in your career is it most important to network?

All of the time           89 percent
When I have a job but am considering other options 7 percent
When I am out of work and looking for a new job 3 percent
After college graduation 1 percent

What is the top way you network?

LinkedIn           31 percent
Networking events 9 percent
Reconnecting with current and former friends/colleagues 33 percent
Asking current friends/colleagues to introduce
me to others in their network 27 percent

About Korn Ferry
Korn Ferry is a global organizational
consulting firm. We help companies design their organization – the
structure, the roles and responsibilities, as well as how they
compensate, develop and motivate their people. We also help
organizations select and hire the talent they need to execute their
strategy. Our approximately 7,000 colleagues serve clients in more than
50 countries.

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