Jobs for life become thing of the past #FutureofEmployment
A job for life is a thing of a past, a new survey has revealed, with the average millennial having already had as many jobs as those aged 55 have in their entire career.
A new poll has revealed those aged 25-34 have already had an average of six different roles so far.
But older adults approaching retirement have only had a total of seven jobs throughout their entire working life.
The research, conducted among 2,000 working adults, shows that while over-55s stay in the same role for more than seven years before moving on, young adults switch jobs after less than four years.
It also emerged 47 per cent of millennials have already completely changed careers since getting their first job in order to chase a better salary, improved work-life balance or for a new challenge.
Samantha Rutter, CEO at distance learning provider Open Study College, which commissioned the research, said:
“For a long time now we have seen a gradual change within the job market, with people prepared to move around more, rather than settling down into a role that they intend to stay in for their working life.
“But, it’s surprising to think millennials, who are still early on in their careers have already had around the same number of roles as those who are nearing the end of their working life.
“There are many contributing factors, but we know thanks to the introduction of options including distance learning, it’s now much easier to take a step back and completely change careers if you feel your current one isn’t right for you.
“As a result, younger people are able to make the life-changing decision to change their path even once their career is underway by retraining and entering another field altogether.”
The study also found the average adult has applied for 23 jobs so far in their career, attending nine interviews.
And with the typical worker staying in the same role for around five-and-a-half years, this means they can currently expect to work in eight jobs before the age of 65.
Wanting more money is the most common reason for deciding to change jobs, followed by wanting better career progression and to work in a new location.
But others look for a new role in order to have a bigger challenge, something less stressful or for better training opportunities.
More than half of the employees polled have even moved to a completely different career, ditching their previous profession at the tender age of 31.
Those working in retail are most likely to have changed careers, followed by those in the banking and finance sector, public services and hospitality.
A bigger salary is the main draw for retraining, but one in three were on the lookout for a better work-life balance.
More than one in ten said there was too much pressure in their first career, while 17 per cent felt there were no more opportunities for them.
The study also revealed 66 per cent think having a job for life is a thing of the past, with 32 per cent admitting they can’t see themselves working in the same career for their entire working lifetime.
In an attempt to get into a new career, 28 per cent of those polled, via OnePoll, have a side hustle on the go, with 86 per cent saying this is completely different to their current career.
One in four of those with a job on the side started doing it in order to build up skills and contacts which they can then turn into a job.
And another 35 per cent wanted to gain some more experience in the field before taking the plunge.
Samantha added: “Changing professions can be a life-changing decision, impacting your family and much more than just your professional life. So, it’s no surprise to see the side hustle is becoming more popular as people experiment in a new field before taking the plunge.
“Undertaking a new training course is also a good way to test a new profession and put yourself in a much better position to move to a new career. It’s also a great way to get ahead of the curve when it comes to changing jobs – even within the same career path.”
Top 10 reasons for wanting to change jobs
- For more money
- For career progression
- To work in another location
- For a bigger challenge
- To do something less stressful
- For better training opportunities
- After being made redundant
- Not getting on with the boss
- After having children
- To change careers completely
Top 10 reasons for wanting to change careers
- For a better salary
- For a better work-life balance
- For a new challenge
- Becoming bored in current career
- To better oneself
- There were no more opportunities in current career
- To better balance work with caring for children
- An opportunity came up couldn’t be turned down
- Better progression opportunities
- Too much stress or pressure
Responses