FEW AMERICANS CHOSE TO CHANGE 
EMPLOYMENT IN THIRD QUARTER

Nationwide Survey Shows Decline in Voluntary Career Moves, Retirement

WOODCLIFF LAKE, NJ - Just 9.9% of working Americans voluntarily changed their job status during the third quarter of 2001, down from 14.9% in the second quarter, according to the latest "Lee Hecht Harrison Career Mobility Index." The Index is based on a quarterly telephone survey commissioned by global career services company Lee Hecht Harrison.

"Given the economic uncertainty that pervaded the quarter and sense of vulnerability that followed September 11, it's not surprising that more people were reluctant to make career moves," said Lee Hecht Harrison EVP Bernadette Kenny. The biggest decline, Kenny said, was in people who retired over the past quarter: down from 3.2% to just .4%. "Certainly with retirement accounts taking a beating, it makes sense that people who can are putting off retirement until the markets rebound," Kenny said.

According to the survey, the percentage of people who took a new job with their same employer also dropped, from 4.6% in the second quarter to 2.6% in the third. There was a more modest decline in those who left their employer voluntarily for a new position: 6.0% to 5.6%. Kenny noted that the only area where career mobility inched up was in self-employment, which was pursued by 1.3% of third-quarter respondents, compared to 1.1% in the second quarter.

Kenny said that the prospect of more layoffs is clearly influencing people's career decisions. "There's a widespread expectation that the downsizings that began in earnest this year are going to continue into 2002. Although a no-fault termination may happen to any one at any time, many people understandably fear being the last one in, and therefore the first one out when cuts are announced.

"The EXCEL^sm Telephone Omnibus Survey of 1,010 adult Americans was conducted by ICR (International Communications Research) October 4-8 and has a margin of error of +/- 3.1%.

Established in 1974, Lee Hecht Harrison is the leading global career services company specializing in outplacement, career development, leadership development and executive coaching. Its focus is helping organizations and their employees deal with career transitions, career management and the effect of change on careers, work and employability. With worldwide office locations, Lee Hecht Harrison's experience includes helping companies of all sizes effectively manage change, downsizing and internal career mobility. Lee Hecht Harrison is a division of Adecco S.A.,the world's largest employment services company with more than 5,000 offices in 55 countries.