The Majority of Workers Consider Changing Careers Post-pandemic

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Catherine Tilke

Money Savings Advice Majority of Workers Consider Changing Careers Post-pandemic

The number of workers planning career changes has risen by 7% as a result of the pandemic, with 3 in 5 now eyeing different career opportunities.

According to new research from insurer Aviva, some 10% of the workforce is hunting for roles that will allow them to work from home, while the same number are making plans to retrain completely.

Compared to July 2020, this represents more than 700,000 workers who have decided to take the plunge and embark on an entirely new career.

A similar number of people said they had been inspired by the events of the last 12 months to pack in their current role and look for a job that allows them to help others.

As the pandemic has continued, an increasing number of people have given thought to what they want from their careers, and now three-fifths of people would like to make changes to their working lives.

said the managing director of Personal Lines, Gareth Hemming.

However, the insurer's survey suggests that someone's changes are highly dependent on the life stage.

People under age 25 are the most likely to be considering a career change, with a remarkable 87% rethinking their career choices; whether it's finding a job that lets them work from home (13%), looking for a way to help others through their work (13%) or obtaining new academic qualifications (17%).

Meanwhile, millennials (aged 25-40) are 50% more likely than all other age groups to want to switch careers completely as a result of the pandemic.

Fast forward to those aged 55 years and older and 1 in 7 say they have brought their retirement plans forward and hope to retire in the next year, compared to just 1 in 10 last July.

But what will these mid-career shuffles look like?

According to Aviva's findings, for many people, turning hobbies into side-hustles is an obvious career re-route, with some 15% of workers (around 10.8 million adults!) planning to earn money from their hobby after rethinking their options during the pandemic.

Just over a third of these people hope to make their hobby a full-time job, while two-thirds plan to top-up their regular pay-check with an extra bit of income.

With change clearly afoot for millions of Brits, Gareth Hemming cautioned home workers not to forget about some of the less exciting- but undeniably important- parts of making the switch:

For those who plan to become home-workers, it's always sensible to check that they have suitable cover for their circumstances. Many home insurance policies include cover for office equipment. However, a standard home insurance policy may not be adequate if someone wishes to run a business from their home, particularly if they have stock on site or customers visiting their property. To be absolutely certain, it's always best for people to check with their insurance provider.

 

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Catherine Tilke

Catherine is our specialist financial news journalist. With over 7 years of experience and a raft of contacts in the financial world, she prides herself on delivering the most relevant and up-to-date financial news for our readers.

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