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One-Third of FTSE Execs Consider Quitting Jobs, says finance survey

One-third of executives who work for companies contained in the FTSE 350 Index

One-third of executives who work for companies contained in the FTSE 350 Index started considering leaving their positions within 90 days of taking the job, according to a finance survey.

The poll, which was conducted by a global recruitment consultancy and involved close to 300 senior executives working at firms contained in the FTSE 350 as well as other large corporations, stated that another one-third of participants have plans to remain for less-than one year or are currently looking for their next position, The Telegraph reports.

Improper information

The results of the survey bring the efficacy of existing executive recruitment practices into question, with these top officials frequently being provided with overly-rosy descriptions of their new positions to entice them to join the organizations, according to the news source.

Bad fit

Nearly 40 percent of executives want to leave their new job within the first 90 days because they dislike it so much, The Financial Times reports. Since a lot of them believe they have been provided a depiction of their current role that was either inaccurate or was lacking information, they feel that they do not fit in.

"Part of the problem may be a misrepresentation of both the business and the role in the wooing process that is executive selection," the report stated, according to The Telegraph. One-quarter stated that their role was not described adequately when they interviewing, and only 20 percent stated that the position was in line with their expectations.

The poll found that in addition to the people who are desirous to leave within either one year or 90 days, 73 percent have plans to leave their organization within three years, according to The Financial Times. Only 24 percent indicated that the way they started out at the company was very helpful, and participants indicated that they could have experienced 50 percent more productivity on the average if their start at the new company was more-effectively organized.

Lucy McGee, director of leadership services at Harvey Nash, said that "the quality of the first 90 days for an executive, and how well they are introduced into the organisation, are crucial to their long-term success and productivity in the business," The Telegraph reports.

She added that "but executives are all too often left to sink or swim. To be effective they need a clear understanding of what they’ll be measured on and how best to work with their boss.