A new survey has found the average worker thinks they will go through seven jobs by the time they retire – and they are likely to move on once every seven years
UK workers reckon they’ll rack up a tally of seven different roles before calling it a day on their careers, with job-hopping every seven years on average, research reveals. A survey involving 2,000 employees highlighted the lure of a better salary (56%), improved work-life balance (42%) and chances for advancement (26%) as top factors for a career move. Additional causes for jumping ship include superior workplace perks (26%) and escaping unhealthy office dynamics (24%). Moreover, the appeal of a snug 9 to 5 gig is undeniable, with 95% cherishing the predictability and stability it offers.
The insights suggest that 76% of respondents believe millennials and younger are more prone to switch careers frequently than their older counterparts. This generational split is underlined by 39% of the entire poll willing to consider a job change – driven by an eager 65% from Generation Z and only 32% from Generation X.
Almost half of Generation Z respondents confess to job-hopping every few years in search of progress, whereas a sturdy 60% of baby boomers tend to stick it out long-term with one employer. Spanning all age brackets, 44% have had experience working in various industries during their professional life.
Speaking about the findings, Alexander Allen from Funding Circle mentioned: “Our research shows that people value passion over money when pursuing a job.”
He went on to say, “It’s been interesting to find out how perceptions compare between different generations when it comes to changing jobs or starting a completely new career. It’s heartening to note that amidst the numerous job openings, organisational culture is held in high regard, with 50% of respondents considering a job switch due to unsavoury work environments or better perks.”
He said that although monetary rewards will always be a significant draw, flexible working schedules allowing employees to have a better work-life balance hold almost equal value. Highlighting the importance of expert guidance, the spokesperson continued, “Knowing what support small businesses need comes through years of experience, and making sure they have the right tools available to succeed is crucial.”
Laura Daly, a thriving small business owner from Essex, attributed the success of her bridal shop, Bellissima Weddings, to the vital assistance provided by Funding Circle. Her enterprising spirit, honed by diverse roles such as being a professional singer, dancer, and model, eventually led her to start her business alongside her husband Michael over two decades ago.
Laura’s early years of employment played a pivotal role in laying the groundwork for the business skills she employs today. The engaging entrepreneur shared: “When I worked in a supermarket, my task was to engage customers and promote whatever offers there were each day. I learned very quickly that if you engage people in conversation and let them tell you something about themselves first, you can sell something to them much easier than if you jump straight into a sales pitch.”
“In my 20s I was dancing – and I loved every minute of it. The self-discipline and ability to take personal criticism without being offended were lessons that have stuck with me for life.”
Thanks to Funding Circle’s support, which provides small businesses with the finance they need to expand and enhance their enterprises, Laura has successfully grown her business.
She explained: “I knew what we wanted, and realised it would take a huge lump of money to do what we wanted to do. We had got to the point where we desperately needed to refurbish the whole shop. I started to look at where we could borrow and I loved the minute we started looking at Funding Circle.
“I said to my husband Michael if we’re going to take money from anyone, it’s going to be them. I never felt like I’d sold my soul to the bank. It was a completely different way of thinking and it filled me with confidence into actually taking the money.”
The study, carried out by OnePoll, revealed that 73% of Generation Z are open to embarking on a radically new career – but only 33% of Baby Boomers feel the same. Over a third, or 35%, of those aged between 60-78 believe their generation values stability over change, contrary to just 18% of 18 to 28 year olds.
Conversely, 37% of the younger demographic see frequent job swaps as ‘normal’ – this is in stark contrast to a mere four percent of Boomers.
The OnePoll.com survey has uncovered that 36% of those aged between 60 and 78 believe the job market is tougher for the younger generation now than it was when they began their careers. A total of 30% of respondents attribute this to the current economic climate, particularly affecting young individuals who are keen to switch career paths.
Laura offered pearls of wisdom to youthful job hunters braving the competitive job scene, urging them to “choose a career path that gives you joy or feeds a passion”.
She continued: “It really is true that if you do a job that you love, it will never feel like work. Scope out organisations and companies that offer upward mobility and in-house training to get you there, there’s never any shame in starting at the bottom – some of the best CEO’s have done just that.”