New data reveals that 57% of adults have switched careers in their lifetime. But younger generations are more prone to switch careers more than once. A new study looks into this phenomenon and the FI looks at how it can be applied to a freelance career
- A new survey reveals that 57% of adults have switched careers
- 28% of those making a career change do so in their early twenties
From the #QuitTok trend to Bare Minimum Mondays, ‘The Great Resignation’ shows no sign of slowing down in 2023, according to survey data from FutureLearn, a micro-credential course site.
The study revealed up-to-date career changer statistics, including why people are quitting their jobs and the most valued skills for finding a new one.
While career changes have become more common in recent years, taking this leap is still a daunting prospect – especially if you’re entering a new field of work or diverging from your acquired degree. The hesitance that comes with leaving your job can be evidenced in the rise of workplace trends, including ‘quiet-quitting’ and more recently, ‘loud-quitting’.
”In our daily lives, we spend more time working than any other activity. Thank goodness we live in a world and society today where it’s okay to switch your job more regularly,” says Yvonne Chien, Chief Growth Officer at FutureLearn. “Given the majority of people will have to work for a significant chunk of their lives, being able to continue to develop and try different things can be liberating and keep life interesting,” she says.
Daniella Genas, Entrepreneur, Career Coach and Founder of Be the Boss, has teamed up with Yvonne to discuss the cultural and personal reasons behind why we change careers. As well as taking a deeper dive into the survey data, here the two experts share their top tips for upskilling.
The changing nature of work is leading many people to seek out careers and opportunities that better align with their personal values and lifestyle
Daniella Genas, Founder, Be The Boss
Can ‘#QuitTok’ explain why more people are changing careers?
While it was once thought that choosing a career was a fixed decision, our working lives have become more unpredictable than ever, and new research from FutureLearn has found that the majority of adults (57%) will now switch professions in their lifetimes.
This trend is likely to increase with AI rising in prominence across many spaces, bringing with it the need for our skills and careers to evolve at a more constant pace than ever before.
Transparency around resignations is also becoming increasingly relevant, says FutureLearn’s report, with social media trends around the topic bringing in huge amounts of views. Take the TikTok hashtag #QuitTok for example, drawing in over 41 million views alone.
Daniella says, “The changing nature of work is leading many people to seek out careers and opportunities that better align with their personal values and lifestyle.”
“Rather than sticking to traditional career paths, people are placing a preference on industries that offer high levels of flexibility and autonomy.”
Yvonne adds, “#QuitTok is highlighting a generation who are actively switching. Unlike what it might have been like for previous generations, it’s great that people today don’t feel the first career choice is what you have to stick with forever. Career paths today are a zig-zag and it’s great that there are so many more resources accessible to help you build new skills.”
The survey also shows that career changes are most common during adults’ younger years, with 28% of respondents revealing that they switched career paths during their early twenties.
Why do people switch careers?
Digging deeper into the data, the researchers took a closer look at why people want to make a career change. With themes around new challenges and work-life balance coming out on top, it seems people are looking for a bit more excitement in their 9-5s.
Main factors driving people to switch careers
- Personal development / seeking a new challenge (65%)
- Work-life balance (63%)
- Lack of fulfilment or job satisfaction (63%)
- Salary concerns or seeking higher pay (60%)
- Workplace culture & environment (e.g. benefits, flexibility & ways of working) (56%)
The number one reason why people made a career change is to seek personal development (65%). Perhaps unsurprisingly, work-life balance and lack of job fulfilment (63%) tied for the second biggest reasons why workers jumped into a new field.
On why people are looking for more satisfying careers in 2023, Daniella says: “The increase in mental health awareness and work-life balance has contributed to the growing trend of seeking more fulfilling and satisfying careers.”
“Another factor contributing to career change is the growing desire to make a positive environmental impact. This has become more necessary for many people due to an increased awareness of social and environmental issues. Issues like climate change, social inequality and political instability have led to many individuals feeling a greater sense of responsibility to take action and make a positive impact through the work they are doing.”
Pros of stackable credits and micro-credentials
With switching careers becoming increasingly popular across many industries, there are now more ways than ever to gain qualifications that are also achievable around your existing lifestyle.
From microcredentials that offer stackable credits, to online degrees that allow you to study from home – the traditional path of education is being disrupted by this rise of new flexible alternatives, making career transitioning more prevalent than ever before. Once you have these new skills in the bag you can promote them in your professional profile and engage in discussions about them on social media, illustrating your proficiency in the subject. That’s a great way to attract new clients or customers.
Interestingly, learning a second language has been revealed as the most in-demand skill, with 40% of people keen to become bilingual.
It seems that the evolving nature of work has vastly broadened career horizons regardless of your educational background. Venturing into a completely new field, from business and management to teaching, is a path that has been made much more accessible for workers today.
The data also reveals the industries people stay in from graduation to retirement. Those who work in IT and telecoms are the most likely to still work in the same industry as their degree (56%) whereas those who have a degree in HR are more likely to work in a different industry to their degree now compared to those working in other industries (38%).
The three skills which were cited as most vital to making a career change were teamwork, communication and problem-solving skills – proving the value of transferable skills.
What skills are needed to make a career change?
Yvonne says the skills you have in your toolkit can be both your strength and your weakness when it comes to making a career change.
“One of the main benefits of job-hopping is the adaptable skills acquired from past roles. However, skills gaps can cause significant blockers, deterring people from jumping into a new field,” she says.
The three skills which were cited as most vital to making a career change were teamwork, communication and problem-solving skills – proving the value of transferable skills.
If you’re feeling anxious about your qualifications, upskilling is a great way to gain new expertise and revitalise your career prospects.
Yvonne Chien, Chief Growth Officer at FutureLearn
Despite the world becoming increasingly tech-focused and the ever-advancing progression of AI intelligence, less than a quarter of respondents cited digital skills as vital for a career change.
Interestingly, learning a second language has been revealed as the most in-demand skill, with 40% of people keen to become bilingual.
Want to switch careers but unsure where to start?
Daniella advises a good first step to take when thinking about switching careers is to research different career options. “Identify roles that align with your interests, skills and personal values,” she says.
She continues, “Use this to create a development plan for acquiring any necessary skills or education that will make it easier to transition into a new career.”
Yvonne says that if you’re feeling anxious about your qualifications, upskilling is a great way to gain new expertise and revitalise your career prospects.
“The variety of online learning opportunities available today makes it easier to build in-demand career skills, wherever and whenever suits you,” she says.