The talent war is pushing employers to more frequently resort to promotions to retain their top talent. According to a survey by Korn/Ferry, the talent management specialist, more than one-third of executives surveyed reported having been promoted by their current employer within the past two years.
This upsurge of promotions hides job title inflation in about half of cases—46% of recently promoted executives stated that their responsibilities had remained roughly unchanged despite their new titles.
More than 40% observed a trend in companies of inflating job titles in order to keep their best employees. Executives are not fooled by this strategy, however and 85% of them consider it ineffective.
Among the inflated job titles noted by Korn/Ferry, some show a certain lack of imagination: Director of Decisions, Process Change Manager, Chief Inspiration Officer and General Manager Reporting to the General Manager…
This survey was conducted online at www.ekornferry.com from June 23 to 29, 2006. 279 respondents from several dozen countries, representing a wide spectrum of industries and functional areas, participated.