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Millions of workers plan to switch their current careers

09 May 2018

first direct research reveals 40% of Brits plan to switch careers in the next two years

  • Learning new skills and having a better work-life balance are the top factors driving the desire for career change 
  • first direct ’s switcher gift includes opportunities for new customers to gain a qualification and take their first steps in a different field of work  

A new study from first direct has found millions of British workers are planning a career change within the next two years.

Almost half (47%) of workers find their careers unfulfilling. As many as four out of ten aren’t happy with their current careers and are planning not just to switch employers but to change careers completely.

The survey of more than 2,000 UK adults in employment was commissioned by first direct following the launch of its new current account switching incentive. The incentive allows new customers to choose from online self-development courses, Expedia vouchers or a range of electronic gadgets, such as a Fitbit Charge 2 Special Edition or Bose Soundsport wireless headphones.

Age no barrier to a change in direction

The research revealed the idea of a career switch is most popular with the over-55s (49%), and 43% of Millennials said they planned to change their career in the next two years. 

A quarter of Millennials are keen to switch careers in order to learn a new skill, and more than a fifth (21%) want a career with more flexibility.

One in five of this age group have already made one career swap, with more than one in four (27%) making the change to achieve a better work-life balance.

Joe Gordon, Head of first direct , said: “It’s easy to associate career switching with the early years of your working life, but our research found the desire to do something completely different spans every age and generation. Even 42% of over-45s plan to change careers in the next two years.

“Money isn’t the driving factor behind a career switch. People are keen to learn new skills, or to do something they find more personally satisfying. Almost one in five are considering teaching, nursing or charity work as an alternative career.”

Key career switching stats:

  • Starting a business or working for yourself is the top choice for British workers planning to switch career (18%).
  • One in six Millennials would like to start their own business, 11% would like to work with animals, and one in ten would like a career in social media.
  • Among all age groups surveyed, one in four workers have already made a career switch. 15% of these started their own business, 12% changed to a career working with children – such as teaching – and one in ten began a career in healthcare.
  • Although 37% of adults say it’s ‘never too late’ to switch careers, only 30% of those aged 44 and under believe 45 is the oldest to consider a career change. 

Joe added: “Whether you’re a Millennial, Generation X or a Baby Boomer, there are more opportunities than ever before to learn a new skill or to take a hobby and turn it into a career.

“That’s why our new switching incentives to move your current account to first direct include a wide range of high-quality online self-development courses. If you want to make a fresh start by learning a new skill or getting a qualification, now’s your chance.”

Ends

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Recent research* by first direct, winner of the 2013 uSwitch Best Account Opening Service and Overall Best Current Account Provider Awards, has found that 44% of UK adults have never switched their current account and a further 27% have only moved their banking once.


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Britons switched off to current account change┬á Nearly nine in ten Brits (87%) are unaware or confused about the changes being brought in to improve current account services and make it easier for them to switch┬╣, according to first direct.


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