CIOs' Job Satisfaction Increases Despite Recession
Despite having to cope with massive budget cuts, salary freezes and demoralized staffs, most employed IT executives are more satisfied with their jobs this year than they have been in previous years, according to the results of a job satisfaction survey conducted by ExecuNet. Nearly two-thirds (64 percent) of the 306 IT executives who responded to the survey said they were satisfied with their jobs. That's an 11 percent increase over 2008, when 286 IT leaders responded to the survey. In 2007, only 41 percent of IT executives reported being happy with their jobs even though the economy was arguably much stronger then than it is now.
IT executives cited work they enjoy (checked by 13 percent), a good relationship with their bosses (12.5 percent), and a comfy fit with their employers (10.2 percent) as the primary reasons for job satisfaction. Among the 36 percent of IT leaders who indicated that they aren't happy with their jobs, their top reasons were limited advancement opportunities (noted by 14 percent), compensation (11.3 percent) and lack of challenge (10 percent). Source: CIO Magazine
Pay Raises Expected to Rebound in 2010
Pay raises for U.S. workers are expected to rebound in 2010, following a year in which many companies slashed raises in the wake of the recession, according to a new survey by Watson Wyatt. Companies are projecting median merit increases of 3.0 percent for 2010, according to the Watson Wyatt 2009/2010 U.S. Strategic Rewards survey report. The survey includes responses from 235 large U.S. employers gathered in May 2009.
Last year, before the onset of the recession, companies projected 3.5 percent merit increases for 2009. Now, companies say median merit pay increases will be 2 percent in 2009. Additionally, fewer companies plan to eliminate pay raises in 2010. According to a separate survey of nearly 900 companies conducted by Watson Wyatt Data Services, a subsidiary of Watson Wyatt, only 10 percent of companies are planning no pay raises for workers in 2010 compared to 25 percent this year.
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