Is a job move inevitable?
Is the 30 year career with one organisation a thing of the past?
It is reasonably rare today to meet people who have spent their whole career with one organisation. Those that have tend to be with the utilities (Severn Trent for example), financial institutions (banks, insurance) and in professional services such as architects, lawyers and accountants. One exception would be the public sector where you can stay in the same department for your whole career…
Does this mean then that these people are unambitious, lucky not to have been made redundant or just happy in their work?
For most of us the ebb and flow of business and our lives means that change is inevitable. The 21st century employee also appears to lack the loyalty to their employer that previous generations had, particularly younger employees who see it as normal that they move companies on a regular basis to get a better deal or promotion.
Recent research has suggested that 35% of us are currently exploring career options, mainly to bolster our finances in the face of the cost-of-living crisis. This rises to over 50% in the creative sector!
The research also shows that around 30% of employees have seen changes in their career over the last three years – moving jobs, retiring or going back to education – which is probably a fair reflection of the post pandemic world.
It has also shown that those under 35 are more likely to change jobs, being more proactive in doing so, with half having done so in the last three years.
So, what is motivating these changes?
It seems that, not unnaturally, remuneration is the key driver, with people either moving for a bigger salary or more earnings potential in the future and one in ten saying their current pay did not meet their monthly bills.
However, new research by HiBob, has highlighted job burnout and stress, coupled with a need for a better work-life balance as the reason a staggering 70% of UK employees are thinking about changing jobs this year. Worrying figures indeed for employers.
Which sectors are seeing change?
Those industries with the highest rate of career change are the creative ones, such as advertising, marketing and PR; the energy and utility sector, charity sector (surprisingly) and the environment sector. Those in HR are also on the move…
What sectors are due to grow?
- Technology and Digital Services
- Renewable Energy
- Healthcare and Life Sciences
- Financial Services
- Construction and Real Estate
- E-commerce and Retail Technology
- Sustainable and Green Technologies
- Biotechnology
- Food and Beverage