Loyalty has gone out of the window for most Midlands managers.
Organisations across the region are struggling to hold on to their employees, despite rising bonus payment bungs.
The 2005 National Management Salary Survey also shows that benefits packages have improved as companies battle to attract staff.
The survey, launched by the Chartered Management Institute and Remuneration Economics, reveals 71.4 per cent of executives in the Midlands received a bonus in the year to January compared to
70.3 per cent across the country.
But in spite of the high number bonus payments, 45.4 per cent of companies are reporting retention problems - the worst for 15 years.
Asked why their employees leave, 62 per cent blamed competition from other organisations and 45.4 per cent admitted they offered little in the way of career progression or training. Salaries (43.2 per cent) and job security (40.9 per cent) were also cited as reasons for job changes.
The findings reveal that the average total earnings for managers in the Midlands are £40,126, putting the area in last place in the UK 'earnings league table' - a drop of four places from 2004.
Managers' salaries account for a large proportion of 'guaranteed take home pay' because at £3,545 for those in the Midlands their bonus is worth just 8.8 per cent of total income.
Directors, in contrast, rely on bonuses for 38.6 per cent of total earnings.
The survey, of 20,989 individuals, also shows that signing on bonuses have almost doubled over the last year to 14.1 per cent and many businesses offer referral payments to staff recommending potential recruits.
Some 43.4 per cent of firms said they had experienced recruitment difficulties, up from 30.9 per cent last year. Lack of candidates with specialised skills, especially those in IT management, engineers and sales people, were blamed.
Mary Chapman, chief executive of the Chartered Management Institute, said: "Many organisations admit that they fail to provide adequate development initiatives, even though it is a major reason for leaving. If employers are serious about reversing the current recruitment and retention trend, they must address this issue."
Pensions, life assurance and health checks are the sorts of things demanded by managers. However the Midlands appears to be catching up very slightly on pay packages.
Salaries for all managers in the Midlands rose by 5.3 per cent in 2005, against a national average of 4.3 per cent. Combined earnings in the Midlands rose by 5.9 per cent, compared to 5.0 per cent across the country.